Lam Research Co. (LRCX) Holdings Lifted by Geode Capital Management LLC
Geode Capital Management LLC boosted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 4.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,917,899 shares of the semiconductor company’s stock after buying an additional 74,507 shares during the quarter. Geode Capital Management LLC’s holdings in Lam Research were worth $352,365,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of LRCX. Schroder Investment Management Group boosted its stake in Lam Research by 3,248.5% during the third quarter. Schroder Investment Management Group now owns 703,625 shares of the semiconductor company’s stock worth $127,933,000 after buying an additional 682,612 shares during the period. Nordea Investment Management AB boosted its stake in Lam Research by 66.0% during the third quarter. Nordea Investment Management AB now owns 1,575,269 shares of the semiconductor company’s stock worth $291,488,000 after buying an additional 626,034 shares during the period. KBC Group NV boosted its stake in Lam Research by 732.8% during the fourth quarter. KBC Group NV now owns 316,776 shares of the semiconductor company’s stock worth $58,309,000 after buying an additional 278,737 shares during the period. Graticule Asia Macro Advisors LLC purchased a new stake in shares of Lam Research during the third quarter valued at $51,400,000. Finally, Janus Henderson Group PLC boosted its stake in shares of Lam Research by 5.7% during the third quarter. Janus Henderson Group PLC now owns 5,014,215 shares of the semiconductor company’s stock valued at $927,828,000 after purchasing an additional 271,546 shares during the period. 90.28% of the stock is owned by institutional investors.
A number of analysts have recently issued reports on the stock. BidaskClub raised shares of Lam Research from a “hold” rating to a “buy” rating in a research note on Saturday. ValuEngine raised shares of Lam Research from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Deutsche Bank reissued a “buy” rating and set a $240.00 target price on shares of Lam Research in a research note on Thursday, January 25th. Royal Bank of Canada boosted their target price on shares of Lam Research to $245.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Lam Research from $230.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $232.41.
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 consensus estimate of $3.68 by $0.66. The firm had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.57 billion. Lam Research had a return on equity of 36.08% and a net margin of 17.60%. The firm’s quarterly revenue was up 37.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.24 earnings per share. research analysts anticipate that Lam Research Co. will post 16.74 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 7th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $2.00 dividend on an annualized basis and a yield of 1.03%. Lam Research’s dividend payout ratio is presently 22.05%.
Lam Research declared that its Board of Directors has approved a share buyback program on Tuesday, November 14th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
In other Lam Research news, insider Seshasayee Varadarajan sold 25,453 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $215.00, for a total value of $5,472,395.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.41% of the company’s stock.
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Lam Research Company 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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