Neuberger Berman Group LLC lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 5.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 191,649 shares of the semiconductor company’s stock after buying an additional 9,785 shares during the quarter. Neuberger Berman Group LLC owned about 0.12% of Lam Research worth $35,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fiduciary Trust Co. grew its holdings in Lam Research by 1.0% in the second quarter. Fiduciary Trust Co. now owns 2,044 shares of the semiconductor company’s stock worth $289,000 after purchasing an additional 20 shares during the period. Hanseatic Management Services Inc. grew its holdings in Lam Research by 1.0% in the second quarter. Hanseatic Management Services Inc. now owns 2,242 shares of the semiconductor company’s stock worth $317,000 after purchasing an additional 22 shares during the period. ETRADE Capital Management LLC grew its holdings in Lam Research by 0.5% in the second quarter. ETRADE Capital Management LLC now owns 5,833 shares of the semiconductor company’s stock worth $825,000 after purchasing an additional 28 shares during the period. Cutter & CO Brokerage Inc. grew its holdings in Lam Research by 0.8% in the second quarter. Cutter & CO Brokerage Inc. now owns 4,635 shares of the semiconductor company’s stock worth $656,000 after purchasing an additional 35 shares during the period. Finally, KCM Investment Advisors LLC grew its holdings in Lam Research by 2.5% in the second quarter. KCM Investment Advisors LLC now owns 2,248 shares of the semiconductor company’s stock worth $318,000 after purchasing an additional 54 shares during the period. Institutional investors own 93.37% of the company’s stock.

In related news, COO Timothy Archer sold 11,590 shares of the stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $181.76, for a total transaction of $2,106,598.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Patrick J. Lord sold 264 shares of the stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $216.08, for a total transaction of $57,045.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,859 shares of company stock worth $9,284,799. 0.41% of the stock is owned by insiders.

LRCX has been the topic of a number of recent research reports. Argus initiated coverage on shares of Lam Research in a report on Tuesday, September 12th. They issued a “buy” rating and a $196.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and issued a $200.00 price objective on shares of Lam Research in a report on Friday, September 1st. ValuEngine downgraded shares of Lam Research from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Credit Suisse Group reiterated a “buy” rating on shares of Lam Research in a research note on Tuesday, August 29th. Finally, DA Davidson reiterated a “buy” rating and issued a $215.00 target price on shares of Lam Research in a research note on Thursday, October 12th. Four analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Lam Research currently has an average rating of “Buy” and a consensus price target of $212.99.

Lam Research Co. (NASDAQ LRCX) opened at $188.83 on Thursday. The firm has a market cap of $30,580.00, a P/E ratio of 16.28, a P/E/G ratio of 0.86 and a beta of 1.57. Lam Research Co. has a 52-week low of $105.30 and a 52-week high of $219.70. The company has a current ratio of 3.31, a quick ratio of 2.83 and a debt-to-equity ratio of 0.24.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share 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 for the quarter was up 51.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.81 earnings per share. equities analysts expect that Lam Research Co. will post 14.74 EPS for the current year.

Lam Research announced that its Board of Directors has approved a share buyback plan on Tuesday, November 14th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the semiconductor company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Wednesday, December 6th will be given a dividend of $0.50 per share. This is an increase from Lam Research’s previous quarterly dividend of $0.45. The ex-dividend date is Tuesday, December 5th. This represents a $2.00 dividend on an annualized basis and a yield of 1.06%. Lam Research’s dividend payout ratio is 18.26%.

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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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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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