Rainier Investment Management LLC reduced its position in shares of Lam Research Co. (NASDAQ:LRCX) by 22.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,970 shares of the semiconductor company’s stock after selling 4,800 shares during the quarter. Rainier Investment Management LLC’s holdings in Lam Research were worth $3,124,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Janus Henderson Group PLC grew its holdings in shares of Lam Research by 5.7% during the 3rd quarter. Janus Henderson Group PLC now owns 5,014,215 shares of the semiconductor company’s stock valued at $927,828,000 after acquiring an additional 271,546 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Lam Research by 66.0% in the third quarter. Nordea Investment Management AB now owns 1,575,269 shares of the semiconductor company’s stock worth $291,488,000 after purchasing an additional 626,034 shares in the last quarter. Old Mutual Global Investors UK Ltd. boosted its holdings in Lam Research by 3.2% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 907,278 shares of the semiconductor company’s stock worth $167,882,000 after purchasing an additional 28,318 shares in the last quarter. Alkeon Capital Management LLC boosted its holdings in Lam Research by 1.2% in the third quarter. Alkeon Capital Management LLC now owns 827,493 shares of the semiconductor company’s stock worth $153,119,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in Lam Research by 2.0% in the third quarter. Legal & General Group Plc now owns 820,678 shares of the semiconductor company’s stock worth $151,850,000 after purchasing an additional 15,912 shares in the last quarter. 92.49% of the stock is currently owned by institutional investors.
Lam Research Co. (NASDAQ:LRCX) opened at $165.87 on Monday. Lam Research Co. has a 52-week low of $113.20 and a 52-week high of $219.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.47 and a quick ratio of 2.09. The stock has a market cap of $26,860.00, a PE ratio of 18.27, a P/E/G ratio of 0.67 and a beta of 1.47.
Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.68 by $0.66. Lam Research had a net margin of 17.60% and a return on equity of 36.08%. The firm had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the prior year, the business posted $2.24 earnings per share. The company’s quarterly revenue was up 37.1% compared to the same quarter last year. analysts expect that Lam Research Co. will post 16.74 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 7th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, March 6th. This represents a $2.00 annualized dividend and a yield of 1.21%. Lam Research’s dividend payout ratio is 22.03%.
Lam Research announced that its Board of Directors has authorized a stock buyback program on Tuesday, November 14th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
LRCX has been the subject of a number of recent research reports. KeyCorp reiterated a “buy” rating and issued a $225.00 price objective on shares of Lam Research in a report on Sunday, November 19th. BidaskClub cut shares of Lam Research from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. B. Riley restated a “buy” rating and set a $250.00 price target on shares of Lam Research in a report on Tuesday, November 14th. Vetr cut shares of Lam Research from a “buy” rating to a “hold” rating and set a $218.49 price target for the company. in a report on Tuesday, January 23rd. Finally, Berenberg Bank restated a “buy” rating and set a $240.00 price target on shares of Lam Research in a report on Thursday, October 19th. Two equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $232.41.
In other Lam Research news, VP Patrick J. Lord sold 264 shares of the company’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $216.08, for a total transaction of $57,045.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael R. Cannon sold 9,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $212.43, for a total transaction of $1,911,870.00. The disclosure for this sale can be found here. Insiders have sold 56,722 shares of company stock worth $12,088,028 over the last ninety days. Insiders own 0.41% of the company’s stock.
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Lam Research Company Profile
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.
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