Lam Research Co. (LRCX) Holdings Lifted by Krilogy Financial LLC
Krilogy Financial LLC grew its position in Lam Research Co. (NASDAQ:LRCX) by 91.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 550 shares of the semiconductor company’s stock after purchasing an additional 263 shares during the period. Krilogy Financial LLC’s holdings in Lam Research were worth $102,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Signature Estate & Investment Advisors LLC lifted its stake in Lam Research by 15.2% during the third quarter. Signature Estate & Investment Advisors LLC now owns 3,986 shares of the semiconductor company’s stock valued at $738,000 after purchasing an additional 527 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Lam Research by 5.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 560,705 shares of the semiconductor company’s stock valued at $79,301,000 after buying an additional 28,662 shares during the period. Putnam FL Investment Management Co. acquired a new position in shares of Lam Research during the 3rd quarter worth $15,390,000. Pacad Investment Ltd. increased its stake in shares of Lam Research by 252.5% during the 2nd quarter. Pacad Investment Ltd. now owns 36,369 shares of the semiconductor company’s stock worth $5,144,000 after purchasing an additional 26,052 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its stake in shares of Lam Research by 0.9% during the 3rd quarter. Epoch Investment Partners Inc. now owns 64,708 shares of the semiconductor company’s stock worth $11,974,000 after purchasing an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 93.80% of the company’s stock.
In other Lam Research news, Director Stephen G. Newberry sold 750 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $175.00, for a total transaction of $131,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Patrick J. Lord sold 264 shares of the business’s stock in a transaction dated Friday, November 24th. The stock was 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 quarter, insiders sold 62,247 shares of company stock worth $12,162,864. Corporate insiders own 0.41% of the company’s stock.
Lam Research Co. (NASDAQ LRCX) opened at $185.56 on Tuesday. The company has a quick ratio of 2.83, a current ratio of 3.31 and a debt-to-equity ratio of 0.24. Lam Research Co. has a one year low of $103.01 and a one year high of $219.70. The firm has a market cap of $30,196.49, a P/E ratio of 16.06, a price-to-earnings-growth ratio of 0.85 and a beta of 1.57.
Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share (EPS) 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 the consensus estimate of $2.46 billion. Lam Research had a net margin of 22.85% and a return on equity of 30.19%. The firm’s revenue was up 51.8% compared to the same quarter last year. During the same period last year, the company earned $1.81 earnings per share. equities research analysts expect that Lam Research Co. will post 14.74 EPS for the current year.
Lam Research declared that its board has initiated a stock buyback plan on Tuesday, November 14th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Wednesday, December 6th will be issued a $0.50 dividend. This is an increase from Lam Research’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Tuesday, December 5th. Lam Research’s payout ratio is currently 18.28%.
LRCX has been the topic of several analyst reports. Needham & Company LLC restated a “buy” rating and set a $220.00 price target (up previously from $200.00) on shares of Lam Research in a research note on Friday, October 13th. KeyCorp restated a “buy” rating and set a $225.00 price target on shares of Lam Research in a research note on Sunday, November 19th. BidaskClub lowered shares of Lam Research from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. B. Riley restated a “buy” rating and set a $250.00 price target on shares of Lam Research in a research note on Tuesday, November 14th. Finally, Berenberg Bank restated a “buy” rating and set a $240.00 price target on shares of Lam Research in a research note on Thursday, October 19th. Four analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $212.99.
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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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