Shelton Capital Management Buys 15,800 Shares of Lam Research Co. (LRCX)

Shelton Capital Management increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 91.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,168 shares of the semiconductor company’s stock after buying an additional 15,800 shares during the quarter. Shelton Capital Management’s holdings in Lam Research were worth $6,137,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of LRCX. Janus Henderson Group PLC grew its stake in Lam Research by 23,238.8% during the 2nd quarter. Janus Henderson Group PLC now owns 4,742,669 shares of the semiconductor company’s stock worth $670,756,000 after buying an additional 4,722,348 shares during the last quarter. Old Mutual Global Investors UK Ltd. grew its stake in Lam Research by 1,696.5% during the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 878,960 shares of the semiconductor company’s stock worth $124,311,000 after buying an additional 830,034 shares during the last quarter. Schroder Investment Management Group grew its stake in Lam Research by 3,248.5% during the 3rd quarter. Schroder Investment Management Group now owns 703,625 shares of the semiconductor company’s stock worth $127,933,000 after buying an additional 682,612 shares during the last quarter. Nordea Investment Management AB grew its stake in Lam Research by 66.0% during the 3rd quarter. Nordea Investment Management AB now owns 1,575,269 shares of the semiconductor company’s stock worth $291,488,000 after buying an additional 626,034 shares during the last quarter. Finally, GQG Partners LLC bought a new position in Lam Research during the 2nd quarter worth $87,726,000. Hedge funds and other institutional investors own 93.80% of the company’s stock.

In other news, VP Patrick J. Lord sold 264 shares of the company’s 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 filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen G. Newberry sold 750 shares of the company’s 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 90 days, insiders sold 62,247 shares of company stock valued at $12,162,864. Insiders own 0.41% of the company’s stock.

LRCX has been the subject of a number of recent research reports. Credit Suisse Group restated a “buy” rating on shares of Lam Research in a research note on Tuesday, August 29th. ValuEngine cut Lam Research from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Needham & Company LLC reissued a “buy” rating and issued a $200.00 price target on shares of Lam Research in a research note on Friday, September 1st. Argus initiated coverage on Lam Research in a research note on Tuesday, September 12th. They issued a “buy” rating and a $196.00 price target for the company. Finally, KeyCorp reissued an “outperform” rating and issued a $202.00 price target on shares of Lam Research in a research note on Saturday, September 16th. Four research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $212.99.

Shares of Lam Research Co. (NASDAQ:LRCX) opened at $182.10 on Friday. The company has a quick ratio of 2.83, a current ratio of 3.31 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $29,404.57, a price-to-earnings ratio of 15.64, a PEG ratio of 0.83 and a beta of 1.57. Lam Research Co. has a twelve month low of $104.01 and a twelve month high of $219.70.

Lam Research (NASDAQ:LRCX) last announced 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 during the quarter, compared to analyst estimates 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 was up 51.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.81 earnings per share. analysts forecast that Lam Research Co. will post 14.74 EPS for the current year.

Lam Research announced that its Board of Directors has approved a stock repurchase plan on Tuesday, November 14th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually 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. Stockholders of record on Wednesday, December 6th will be issued a $0.50 dividend. This is a positive change from Lam Research’s previous quarterly dividend of $0.45. The ex-dividend date is Tuesday, December 5th. This represents a $2.00 annualized dividend and a dividend yield of 1.10%. Lam Research’s dividend payout ratio is 18.28%.

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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.

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

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