Lam Research Corporation (LRCX) Shares Sold by 361 Capital LLC
361 Capital LLC decreased its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 50.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 15,285 shares of the semiconductor company’s stock after selling 15,321 shares during the period. 361 Capital LLC’s holdings in Lam Research Corporation were worth $2,828,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Vantage Financial Partners Ltd. Inc. bought a new stake in shares of Lam Research Corporation during the 2nd quarter worth about $254,000. Bollard Group LLC bought a new stake in shares of Lam Research Corporation during the 3rd quarter worth about $130,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Lam Research Corporation during the 3rd quarter worth about $134,000. Odey Holdings AG boosted its holdings in shares of Lam Research Corporation by 9.9% during the 2nd quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock worth $115,000 after buying an additional 73 shares during the period. Finally, BDO Wealth Advisors LLC bought a new stake in shares of Lam Research Corporation during the 2nd quarter worth about $118,000. 93.05% of the stock is owned by institutional investors and hedge funds.
In related news, Director Stephen G. Newberry sold 750 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $170.00, for a total transaction of $127,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Timothy Archer sold 8,691 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $171.76, for a total transaction of $1,492,766.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,419 shares of company stock worth $7,167,497. 0.41% of the stock is owned by insiders.
Lam Research Corporation (NASDAQ:LRCX) traded up $5.36 during trading hours on Friday, hitting $213.22. 2,259,400 shares of the stock were exchanged, compared to its average volume of 2,081,593. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.83 and a current ratio of 3.31. Lam Research Corporation has a 12 month low of $97.79 and a 12 month high of $214.72. The company has a market cap of $34,820.00, a price-to-earnings ratio of 17.90, a P/E/G ratio of 0.97 and a beta of 1.63.
Lam Research Corporation (NASDAQ:LRCX) last issued its earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.27 by $0.19. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.46 billion. Lam Research Corporation had a net margin of 22.85% and a return on equity of 30.19%. Lam Research Corporation’s revenue was up 51.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.81 earnings per share. equities analysts expect that Lam Research Corporation will post 14.45 EPS for the current year.
Lam Research Corporation declared that its board has authorized a stock buyback program on Tuesday, November 14th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Wednesday, December 6th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 5th. This is a positive change from Lam Research Corporation’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 0.94%. Lam Research Corporation’s dividend payout ratio is currently 16.44%.
A number of analysts have issued reports on the stock. B. Riley reissued a “buy” rating and issued a $250.00 price objective on shares of Lam Research Corporation in a report on Tuesday. Royal Bank Of Canada boosted their price objective on shares of Lam Research Corporation from $210.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday. Deutsche Bank AG boosted their price objective on shares of Lam Research Corporation to $230.00 and gave the company a “buy” rating in a report on Wednesday. Needham & Company LLC boosted their price objective on shares of Lam Research Corporation from $220.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 19th. Finally, Berenberg Bank reissued a “buy” rating and issued a $240.00 price objective on shares of Lam Research Corporation in a report on Thursday, October 19th. Five analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Lam Research Corporation has an average rating of “Buy” and an average target price of $212.89.
TRADEMARK VIOLATION WARNING: “Lam Research Corporation (LRCX) Shares Sold by 361 Capital LLC” was reported by Watch List News and is the property of of Watch List News. If you are accessing this story on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright laws. The legal version of this story can be read at https://www.watchlistnews.com/lam-research-corporation-lrcx-shares-sold-by-361-capital-llc-2/1709761.html.
Lam Research Corporation 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.
Want to see what other hedge funds are holding LRCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lam Research Corporation (NASDAQ:LRCX).
Receive News & Ratings for Lam Research Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lam Research Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.