Sciencast Management LP acquired a new stake in shares of Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,249 shares of the semiconductor company’s stock, valued at approximately $886,000.
A number of other hedge funds and other institutional investors have also modified their holdings of LRCX. Schroder Investment Management Group lifted its holdings 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 lifted its holdings 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. KBC Group NV lifted its holdings in Lam Research by 732.8% during the 4th quarter. KBC Group NV now owns 316,776 shares of the semiconductor company’s stock worth $58,309,000 after buying an additional 278,737 shares during the last quarter. Graticule Asia Macro Advisors LLC bought a new position in Lam Research during the 3rd quarter worth approximately $51,400,000. Finally, Janus Henderson Group PLC lifted its holdings in Lam Research by 5.7% during the 3rd quarter. Janus Henderson Group PLC now owns 5,014,215 shares of the semiconductor company’s stock worth $927,828,000 after buying an additional 271,546 shares during the last quarter. Hedge funds and other institutional investors own 90.06% of the company’s stock.
In related news, insider Richard A. Gottscho sold 16,866 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $210.02, for a total value of $3,542,197.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Timothy Archer sold 6,465 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $214.28, for a total value of $1,385,320.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,619 shares of company stock worth $10,790,107. 0.41% of the stock is owned by insiders.
Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 EPS for the quarter, beating the consensus estimate of $3.68 by $0.66. Lam Research had a return on equity of 36.08% and a net margin of 17.60%. The firm had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same period last year, the firm earned $2.24 EPS. The firm’s revenue was up 37.1% compared to the same quarter last year. analysts forecast that Lam Research Co. will post 16.74 earnings per share for the current year.
Lam Research announced that its board has approved a stock repurchase plan on Tuesday, November 14th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 7th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Tuesday, March 6th. Lam Research’s dividend payout ratio is currently 22.05%.
A number of research analysts have commented on LRCX shares. KeyCorp reaffirmed a “buy” rating and set a $225.00 target price on shares of Lam Research in a report on Sunday, November 19th. BidaskClub downgraded Lam Research from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. B. Riley reaffirmed a “buy” rating and set a $250.00 target price on shares of Lam Research in a report on Tuesday, November 14th. Vetr downgraded Lam Research from a “buy” rating to a “hold” rating and set a $218.49 target price on the stock. in a report on Tuesday, January 23rd. Finally, Zacks Investment Research raised Lam Research from a “hold” rating to a “buy” rating and set a $234.00 target price on the stock in a report on Tuesday, January 23rd. Twenty-five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Lam Research has a consensus rating of “Buy” and a consensus price target of $239.28.
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.
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 Co. (NASDAQ:LRCX).
Receive News & Ratings for Lam Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lam Research and related companies with MarketBeat.com's FREE daily email newsletter.