Stifel Financial Corp lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 15.0% in the 3rd quarter, according to its most recent disclosure 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 period. Stifel Financial Corp owned approximately 0.06% of Lam Research worth $19,359,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Odey Holdings AG increased its holdings in Lam Research by 9.9% in the second quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 73 shares in the last quarter. BDO Wealth Advisors LLC purchased a new position in Lam Research in the second quarter valued at $118,000. Bollard Group LLC purchased a new position in Lam Research in the third quarter valued at $130,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Lam Research in the second quarter valued at $134,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Lam Research in the third quarter valued at $134,000. Institutional investors and hedge funds own 93.80% of the company’s stock.
In related news, Director Stephen G. Newberry sold 750 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $170.00, for a total transaction of $127,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Timothy Archer sold 8,691 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $171.76, for a total transaction of $1,492,766.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,688 shares of company stock worth $13,783,130. Company insiders own 0.41% of the company’s stock.
LRCX has been the subject of a number of recent analyst reports. B. Riley reaffirmed a “buy” rating and issued a $220.00 price objective on shares of Lam Research in a report on Thursday, August 10th. Morgan Stanley reissued an “overweight” rating and set a $176.00 target price on shares of Lam Research in a research note on Monday, August 14th. Credit Suisse Group reissued a “buy” rating on shares of Lam Research in a research note on Tuesday, August 29th. ValuEngine cut shares of Lam Research from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $200.00 target price on shares of Lam Research in a research note on Friday, September 1st. Four investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $212.89.
Lam Research Co. (NASDAQ LRCX) opened at $184.23 on Thursday. The company has a quick ratio of 2.83, a current ratio of 3.31 and a debt-to-equity ratio of 0.24. The firm has a market cap of $29,236.15, a PE ratio of 15.55, a price-to-earnings-growth ratio of 0.82 and a beta of 1.57. Lam Research Co. has a fifty-two week low of $102.69 and a fifty-two week high of $219.70.
Lam Research (NASDAQ:LRCX) last posted its earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.19. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.46 billion. Lam Research had a net margin of 22.85% and a return on equity of 30.19%. Lam Research’s revenue was up 51.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.81 EPS. equities research analysts predict 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 authorized a stock repurchase program on Tuesday, November 14th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Wednesday, December 6th will be issued a $0.50 dividend. This is a positive change from Lam Research’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Tuesday, December 5th. Lam Research’s dividend payout ratio is currently 18.28%.
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Lam Research 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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