Stifel Financial Corp Acquires 13,604 Shares of Lam Research Co. (LRCX)

Stifel Financial Corp increased its position in Lam Research Co. (NASDAQ:LRCX) by 15.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 104,590 shares of the semiconductor company’s stock after buying an additional 13,604 shares during the quarter. Stifel Financial Corp owned about 0.06% of Lam Research worth $19,359,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of LRCX. Vantage Financial Partners Ltd. Inc. purchased a new position in Lam Research in the second quarter valued at about $254,000. Bollard Group LLC purchased a new position in Lam Research in the third quarter valued at about $130,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Lam Research during the third quarter valued at about $134,000. Odey Holdings AG grew its stake in shares of Lam Research by 9.9% during the second quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock valued at $115,000 after acquiring an additional 73 shares in the last quarter. Finally, BDO Wealth Advisors LLC acquired a new stake in shares of Lam Research during the second quarter valued at about $118,000. 93.37% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Martin B. Anstice sold 21,955 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $211.16, for a total transaction of $4,636,017.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stephen G. Newberry sold 750 shares of the business’s stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $190.00, for a total value of $142,500.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,769 shares of company stock worth $6,904,451. 0.41% of the stock is owned by corporate insiders.

Several analysts have recently weighed in on LRCX shares. Vetr downgraded Lam Research from a “buy” rating to a “hold” rating and set a $196.77 target price for the company. in a research note on Monday, October 16th. DA Davidson restated a “buy” rating and set a $215.00 target price on shares of Lam Research in a research note on Thursday, October 12th. Citigroup raised their target price on Lam Research from $175.00 to $200.00 and gave the company a “neutral” rating in a research note on Wednesday, October 18th. KeyCorp reiterated a “buy” rating and issued a $225.00 price target (up from $202.00) on shares of Lam Research in a research note on Wednesday, October 18th. Finally, Needham & Company LLC lifted their price target on Lam Research from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 19th. Four research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Lam Research presently has a consensus rating of “Buy” and an average target price of $212.99.

Lam Research Co. (LRCX) traded down $1.47 on Friday, hitting $184.07. The stock had a trading volume of 1,378,301 shares, compared to its average volume of 3,006,420. The company has a market capitalization of $30,047.50, a PE ratio of 16.83, a PEG ratio of 0.85 and a beta of 1.57. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.83 and a current ratio of 3.31. Lam Research Co. has a 52 week low of $105.30 and a 52 week high of $219.70.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.27 by $0.19. The company had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.46 billion. Lam Research had a return on equity of 30.19% and a net margin of 22.85%. The business’s revenue for the quarter was up 51.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.81 earnings per share. equities analysts forecast that Lam Research Co. will post 14.74 earnings per share for the current fiscal year.

Lam Research announced that its Board of Directors has approved 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 buy shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Wednesday, December 6th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Tuesday, December 5th. This is a boost from Lam Research’s previous quarterly dividend of $0.45. Lam Research’s payout ratio is 18.28%.

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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.

Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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