KAMES CAPITAL plc decreased its stake in Lam Research Co. (NASDAQ:LRCX) by 21.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 199,663 shares of the semiconductor company’s stock after selling 54,819 shares during the quarter. KAMES CAPITAL plc owned 0.12% of Lam Research worth $36,760,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the business. Signature Estate & Investment Advisors LLC increased its holdings in shares of Lam Research by 15.2% in the third quarter. Signature Estate & Investment Advisors LLC now owns 3,986 shares of the semiconductor company’s stock worth $738,000 after acquiring an additional 527 shares in the last quarter. Putnam FL Investment Management Co. bought a new stake in shares of Lam Research in the third quarter worth about $15,390,000. Epoch Investment Partners Inc. increased its holdings in shares of Lam Research by 0.9% in the third quarter. Epoch Investment Partners Inc. now owns 64,708 shares of the semiconductor company’s stock worth $11,974,000 after acquiring an additional 600 shares in the last quarter. Financial Enhancement Group LLC bought a new stake in shares of Lam Research in the third quarter worth about $295,000. Finally, 361 Capital LLC grew its holdings in shares of Lam Research by 55.6% during the second quarter. 361 Capital LLC now owns 30,606 shares of the semiconductor company’s stock worth $4,329,000 after buying an additional 10,938 shares in the last quarter. 93.45% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Michael R. Cannon sold 9,000 shares of Lam Research stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $212.43, for a total value of $1,911,870.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Patrick J. Lord sold 264 shares of Lam Research stock in a transaction on Friday, November 24th. The shares were sold at an average price of $216.08, for a total value of $57,045.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,269 shares of company stock valued at $6,615,633. 0.41% of the stock is currently owned by insiders.
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, topping the Thomson Reuters’ consensus estimate of $3.27 by $0.19. The business had revenue of $2.48 billion during 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 firm’s revenue for the quarter was up 51.8% compared to the same quarter last year. During the same period last year, the firm posted $1.81 EPS. analysts forecast that Lam Research Co. will post 14.74 earnings per share for the current year.
Lam Research declared that its Board of Directors has initiated a stock buyback plan on Tuesday, November 14th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Wednesday, December 6th were issued a dividend of $0.50 per share. This is a boost from Lam Research’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Tuesday, December 5th. Lam Research’s dividend payout ratio (DPR) is presently 18.26%.
A number of research analysts recently issued reports on the company. KeyCorp reiterated a “buy” rating and set a $225.00 price objective on shares of Lam Research in a report on Sunday, November 19th. B. Riley reiterated a “buy” rating and set a $250.00 price objective on shares of Lam Research in a report on Tuesday, November 14th. Royal Bank of Canada increased their price objective on Lam Research from $210.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, November 15th. Deutsche Bank increased their price objective on Lam Research to $230.00 and gave the stock a “buy” rating in a report on Wednesday, November 15th. Finally, Vetr cut Lam Research from a “strong-buy” rating to a “buy” rating and set a $218.49 price target for the company. in a research report on Wednesday. Two analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $220.80.
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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.
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