Envestnet Asset Management Inc. lowered its position in shares of Lam Research Co. (NASDAQ:LRCX) by 9.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,379 shares of the semiconductor company’s stock after selling 5,075 shares during the period. Envestnet Asset Management Inc.’s holdings in Lam Research were worth $8,952,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Signature Estate & Investment Advisors LLC increased its holdings in shares of Lam Research by 15.2% in the third quarter. Signature Estate & Investment Advisors LLC now owns 3,986 shares of the semiconductor company’s stock worth $738,000 after buying an additional 527 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Lam Research by 5.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 560,705 shares of the semiconductor company’s stock worth $79,301,000 after buying an additional 28,662 shares during the period. Putnam FL Investment Management Co. purchased a new position in shares of Lam Research in the third quarter worth about $15,390,000. Pacad Investment Ltd. increased its holdings in shares of Lam Research by 252.5% in the second quarter. Pacad Investment Ltd. now owns 36,369 shares of the semiconductor company’s stock worth $5,144,000 after buying an additional 26,052 shares during the period. Finally, Chicago Equity Partners LLC purchased a new position in shares of Lam Research in the second quarter worth about $4,251,000. 93.80% of the stock is owned by hedge funds and other institutional investors.

Shares of Lam Research Co. (NASDAQ:LRCX) opened at $184.23 on Thursday. The company has a current ratio of 3.31, a quick ratio of 2.83 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $29,236.15, a P/E ratio of 15.55, a price-to-earnings-growth ratio of 0.82 and a beta of 1.57. Lam Research Co. has a 12-month low of $102.69 and a 12-month high of $219.70.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.27 by $0.19. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.46 billion. Lam Research had a return on equity of 30.19% and a net margin of 22.85%. The business’s revenue was up 51.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.81 EPS. equities research analysts anticipate that Lam Research Co. will post 14.74 earnings per share for the current year.

Lam Research announced that its Board of Directors has approved a share repurchase program on Tuesday, November 14th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Wednesday, December 6th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.09%. This is a boost from Lam Research’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, December 5th. Lam Research’s payout ratio is presently 18.28%.

In other news, COO Timothy Archer sold 8,691 shares of the business’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 value of $1,492,766.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Martin B. Anstice sold 21,955 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $211.16, for a total value of $4,636,017.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,688 shares of company stock worth $13,783,130. Insiders own 0.41% of the company’s stock.

Several research analysts have recently commented on the company. KeyCorp reiterated a “buy” rating and issued a $225.00 price objective on shares of Lam Research in a report on Sunday, November 19th. B. Riley reiterated a “buy” rating and issued a $250.00 price objective on shares of Lam Research in a report on Tuesday, November 14th. Royal Bank Of Canada lifted their price objective on Lam Research from $210.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, November 15th. Deutsche Bank boosted their price target on Lam Research to $230.00 and gave the company a “buy” rating in a report on Wednesday, November 15th. Finally, Needham & Company LLC boosted their price target on Lam Research from $220.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 19th. Four research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $212.89.

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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.

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

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