Ladenburg Thalmann Financial Services Inc. Has $2.61 Million Stake in Lam Research Co. (LRCX)
Ladenburg Thalmann Financial Services Inc. lifted its position in Lam Research Co. (NASDAQ:LRCX) by 60.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,113 shares of the semiconductor company’s stock after acquiring an additional 5,300 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in Lam Research were worth $2,610,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Wetherby Asset Management Inc. lifted its holdings in Lam Research by 0.7% during the 2nd quarter. Wetherby Asset Management Inc. now owns 1,789 shares of the semiconductor company’s stock valued at $253,000 after buying an additional 12 shares in the last quarter. Fiduciary Trust Co. lifted its holdings in Lam Research by 1.0% during the 2nd quarter. Fiduciary Trust Co. now owns 2,044 shares of the semiconductor company’s stock valued at $289,000 after buying an additional 20 shares in the last quarter. Hanseatic Management Services Inc. lifted its holdings in Lam Research by 1.0% during the 2nd quarter. Hanseatic Management Services Inc. now owns 2,242 shares of the semiconductor company’s stock valued at $317,000 after buying an additional 22 shares in the last quarter. ETRADE Capital Management LLC increased its position in Lam Research by 0.5% during the 2nd quarter. ETRADE Capital Management LLC now owns 5,833 shares of the semiconductor company’s stock valued at $825,000 after purchasing an additional 28 shares during the period. Finally, Cutter & CO Brokerage Inc. increased its position in Lam Research by 0.8% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 4,635 shares of the semiconductor company’s stock valued at $656,000 after purchasing an additional 35 shares during the period. Institutional investors own 93.80% of the company’s stock.
A number of research analysts have commented on LRCX shares. Deutsche Bank raised their target price on shares of Lam Research to $230.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. KeyCorp reissued a “buy” rating and set a $225.00 target price on shares of Lam Research in a research report on Sunday, November 19th. Credit Suisse Group reissued a “buy” rating on shares of Lam Research in a research report on Tuesday, August 29th. DA Davidson reissued a “buy” rating and set a $215.00 target price on shares of Lam Research in a research report on Thursday, October 12th. Finally, Royal Bank of Canada raised their target price on shares of Lam Research from $210.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, November 15th. Four research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $212.99.
Lam Research Co. (LRCX) opened at $182.10 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.31 and a quick ratio of 2.83. Lam Research Co. has a 12-month low of $104.01 and a 12-month high of $219.70. The stock has a market cap of $29,404.57, a P/E ratio of 15.64, a PEG ratio of 0.83 and a beta of 1.57.
Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. Lam Research had a net margin of 22.85% and a return on equity of 30.19%. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the firm earned $1.81 EPS. The company’s quarterly revenue was up 51.8% compared to the same quarter last year. research analysts forecast that Lam Research Co. will post 14.74 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Wednesday, December 6th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.10%. This is an increase from Lam Research’s previous quarterly dividend of $0.45. Lam Research’s payout ratio is presently 18.28%.
Lam Research announced that its board has approved a share repurchase program on Tuesday, November 14th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
In related news, Director Stephen G. Newberry sold 750 shares of Lam Research stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $180.00, for a total value of $135,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Timothy Archer sold 15,638 shares of Lam Research stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $175.65, for a total transaction of $2,746,814.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,247 shares of company stock worth $12,162,864. Insiders own 0.41% of the company’s stock.
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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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