State of Wisconsin Investment Board lessened its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 14.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 208,070 shares of the semiconductor company’s stock after selling 34,476 shares during the period. State of Wisconsin Investment Board’s holdings in Lam Research were worth $38,299,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Krilogy Financial LLC increased its stake in Lam Research by 91.6% during the 3rd quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock worth $102,000 after acquiring an additional 263 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Lam Research by 144.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock worth $122,000 after acquiring an additional 392 shares during the period. Bollard Group LLC bought a new position in Lam Research during the 3rd quarter worth $130,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Lam Research during the 3rd quarter worth $134,000. Finally, Fuller & Thaler Asset Management Inc. bought a new position in Lam Research during the 3rd quarter worth $185,000. Hedge funds and other institutional investors own 92.49% of the company’s stock.
A number of equities research analysts have weighed in on LRCX shares. Vetr downgraded Lam Research from a “strong-buy” rating to a “buy” rating and set a $218.49 target price on the stock. in a report on Wednesday, January 17th. Nomura raised Lam Research from a “neutral” rating to a “buy” rating and raised their target price for the company from $103.01 to $215.00 in a report on Thursday, December 7th. Instinet raised Lam Research from a “neutral” rating to a “buy” rating in a report on Thursday, December 7th. BidaskClub downgraded Lam Research from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Finally, KeyCorp reaffirmed a “buy” rating and issued a $225.00 target price on shares of Lam Research in a report on Sunday, November 19th. Two investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $232.41.
Shares of Lam Research Co. (LRCX) opened at $187.91 on Friday. The company has a current ratio of 2.47, a quick ratio of 2.09 and a debt-to-equity ratio of 0.29. Lam Research Co. has a twelve month low of $113.20 and a twelve month high of $219.70. The firm has a market capitalization of $30,620.31, a price-to-earnings ratio of 13.71, a P/E/G ratio of 0.76 and a beta of 1.47.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.68 by $0.66. Lam Research had a return on equity of 36.08% and a net margin of 17.60%. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter last year, the business posted $2.24 EPS. Lam Research’s revenue for the quarter was up 37.1% on a year-over-year basis. research analysts forecast that Lam Research Co. will post 16.74 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 7th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Tuesday, March 6th. Lam Research’s dividend payout ratio (DPR) is 22.05%.
Lam Research declared that its Board of Directors has initiated a stock buyback program on Tuesday, November 14th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
In related news, VP Patrick J. Lord sold 264 shares of the firm’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $216.08, for a total transaction of $57,045.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Seshasayee Varadarajan sold 25,453 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $215.00, for a total value of $5,472,395.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,767 shares of company stock worth $5,540,141. 0.41% of the stock is currently owned by company insiders.
About Lam Research
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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