Parametric Portfolio Associates LLC Has $88.58 Million Holdings in Lam Research Co. (LRCX)
Parametric Portfolio Associates LLC raised its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 6.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 478,723 shares of the semiconductor company’s stock after acquiring an additional 28,443 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.30% of Lam Research worth $88,583,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC raised its stake in shares of Lam Research by 15.2% during the 3rd 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Lam Research by 5.4% during the 2nd 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 in the last quarter. Putnam FL Investment Management Co. purchased a new position in shares of Lam Research during the 3rd quarter worth approximately $15,390,000. Pacad Investment Ltd. raised 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 buying an additional 26,052 shares in the last quarter. Finally, Epoch Investment Partners Inc. raised 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 buying an additional 600 shares in the last quarter. 93.80% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on LRCX. Zacks Investment Research raised Lam Research from a “sell” rating to a “hold” rating and set a $221.00 target price for the company in a research note on Friday, October 13th. Argus began coverage on Lam Research in a research note on Tuesday, September 12th. They set a “buy” rating and a $196.00 target price for the company. KeyCorp reissued a “buy” rating and set a $225.00 target price on shares of Lam Research in a research note on Sunday, November 19th. Needham & Company LLC reissued a “buy” rating and set a $220.00 target price (up from $200.00) on shares of Lam Research in a research note on Friday, October 13th. Finally, Berenberg Bank reissued a “buy” rating and set a $240.00 target price on shares of Lam Research in a research note on Thursday, October 19th. Four equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $212.99.
Lam Research (NASDAQ:LRCX) last announced its earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. The firm 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%. Lam Research’s quarterly revenue was up 51.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.81 EPS. equities research analysts forecast that Lam Research Co. will post 14.74 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Wednesday, December 6th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Tuesday, December 5th. This is a boost from Lam Research’s previous quarterly dividend of $0.45. Lam Research’s dividend payout ratio is 18.26%.
Lam Research announced that its Board of Directors has approved a share repurchase plan on Tuesday, November 14th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
In other Lam Research news, VP Patrick J. Lord sold 264 shares of the stock in a transaction on Friday, November 24th. The stock was sold at an average price of $216.08, for a total transaction of $57,045.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Stephen G. Newberry sold 750 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $175.00, for a total value of $131,250.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,247 shares of company stock worth $12,162,864. 0.41% of the stock is owned by insiders.
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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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