Kalos Management Inc. increased its position in Lam Research Co. (NASDAQ:LRCX) by 14.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,197 shares of the semiconductor company’s stock after acquiring an additional 913 shares during the quarter. Kalos Management Inc.’s holdings in Lam Research were worth $1,331,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Whale Rock Capital Management LLC increased its holdings in Lam Research by 19.8% in the 3rd quarter. Whale Rock Capital Management LLC now owns 480,753 shares of the semiconductor company’s stock worth $88,959,000 after acquiring an additional 79,414 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Lam Research by 5.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,014,215 shares of the semiconductor company’s stock worth $927,828,000 after acquiring an additional 271,546 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its holdings in Lam Research by 2.5% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 143,807 shares of the semiconductor company’s stock worth $26,610,000 after acquiring an additional 3,510 shares during the last quarter. Carret Asset Management LLC increased its holdings in Lam Research by 56.5% in the 3rd quarter. Carret Asset Management LLC now owns 12,139 shares of the semiconductor company’s stock worth $2,246,000 after acquiring an additional 4,380 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in Lam Research by 3.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 298,089 shares of the semiconductor company’s stock worth $54,983,000 after acquiring an additional 9,626 shares during the last quarter. 93.80% of the stock is owned by institutional investors.
Several equities research analysts recently weighed in on the company. Nomura raised Lam Research from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $103.01 to $215.00 in a report on Thursday. Instinet raised Lam Research from a “neutral” rating to a “buy” rating in a report on Thursday. BidaskClub lowered Lam Research from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. KeyCorp restated a “buy” rating and issued a $225.00 target price on shares of Lam Research in a research note on Sunday, November 19th. Finally, Deutsche Bank raised their target price on Lam Research to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, November 15th. 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 presently has a consensus rating of “Buy” and a consensus price target of $212.99.
Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results 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 firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.46 billion. Lam Research had a return on equity of 30.19% and a net margin of 22.85%. The company’s revenue for the quarter was up 51.8% on a year-over-year basis. During the same quarter last year, the company posted $1.81 EPS. sell-side analysts forecast that Lam Research Co. will post 14.74 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Wednesday, December 6th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Tuesday, December 5th. This is an increase from Lam Research’s previous quarterly dividend of $0.45. Lam Research’s dividend payout ratio (DPR) is 18.28%.
Lam Research declared that its Board of Directors has authorized a share buyback plan on Tuesday, November 14th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
In other news, insider Martin B. Anstice sold 21,955 shares of Lam Research stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $211.16, for a total transaction of $4,636,017.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Timothy Archer sold 8,691 shares of Lam Research stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $171.76, for a total value of $1,492,766.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,938 shares of company stock valued at $13,655,630. Corporate insiders own 0.41% of the company’s stock.
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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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