Lam Research Co. (LRCX) Holdings Cut by Guggenheim Capital LLC

Guggenheim Capital LLC lessened its holdings in Lam Research Co. (NASDAQ:LRCX) by 14.7% during the fourth quarter, Holdings Channel reports. The fund owned 604,117 shares of the semiconductor company’s stock after selling 104,463 shares during the period. Guggenheim Capital LLC’s holdings in Lam Research were worth $111,198,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in LRCX. Krilogy Financial LLC grew its position in Lam Research by 91.6% in the third quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock valued at $102,000 after acquiring an additional 263 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Lam Research by 144.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock valued at $122,000 after purchasing an additional 392 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Lam Research during the third quarter valued at about $134,000. Focused Wealth Management Inc acquired a new stake in shares of Lam Research during the fourth quarter valued at about $140,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Lam Research during the third quarter valued at about $185,000. Hedge funds and other institutional investors own 89.05% of the company’s stock.

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A number of analysts have recently commented on the company. KeyCorp reissued a “buy” rating and set a $225.00 price target on shares of Lam Research in a research note on Sunday, November 19th. Vetr lowered Lam Research from a “buy” rating to a “hold” rating and set a $218.49 price target on the stock. in a research note on Tuesday, January 23rd. Deutsche Bank lifted their price target on Lam Research to $250.00 and gave the company a “buy” rating in a research note on Wednesday. DA Davidson lifted their price target on Lam Research to $275.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Citigroup reissued a “positive” rating and set a $290.00 price target (up from $260.00) on shares of Lam Research in a research note on Wednesday. Twenty-five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $239.15.

In other Lam Research news, insider Seshasayee Varadarajan sold 25,453 shares of Lam Research stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $215.00, for a total value of $5,472,395.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Sarah A. O’dowd sold 1,835 shares of Lam Research stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $212.64, for a total value of $390,194.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,154 shares of company stock valued at $9,404,787. 0.41% of the stock is currently owned by corporate insiders.

Lam Research Co. (NASDAQ:LRCX) opened at $224.95 on Friday. The company has a quick ratio of 2.09, a current ratio of 2.47 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $34,666.52, a P/E ratio of 24.80, a P/E/G ratio of 0.86 and a beta of 1.43. Lam Research Co. has a 12 month low of $116.94 and a 12 month high of $226.08.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.68 by $0.66. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.57 billion. Lam Research had a return on equity of 36.08% and a net margin of 17.60%. The firm’s revenue for the quarter was up 37.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.24 earnings per share. analysts predict that Lam Research Co. will post 16.74 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 7th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, March 6th. This represents a $2.00 dividend on an annualized basis and a yield of 0.89%. Lam Research’s payout ratio is currently 22.05%.

Lam Research announced that its board has approved a stock buyback plan on Tuesday, November 14th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the semiconductor company to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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

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