Means Investment CO. Inc. lowered its position in shares of Lam Research Corporation (NASDAQ:LRCX – Free Report) by 5.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,072 shares of the semiconductor company’s stock after selling 3,166 shares during the quarter. Lam Research accounts for approximately 1.2% of Means Investment CO. Inc.’s investment portfolio, making the stock its 19th biggest holding. Means Investment CO. Inc.’s holdings in Lam Research were worth $17,106,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Paladin Partners LLC bought a new stake in shares of Lam Research in the 2nd quarter worth approximately $26,000. William Mack & Associates Inc. purchased a new position in shares of Lam Research in the third quarter valued at $25,000. Dakota Community Bank & Trust NA purchased a new position in shares of Lam Research in the third quarter valued at $33,000. Quintet Private Bank Europe S.A. raised its stake in shares of Lam Research by 100.0% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 100 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 50 shares during the period. Finally, Bravera Wealth purchased a new stake in Lam Research during the 2nd quarter worth about $46,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.
Lam Research Stock Performance
Shares of LRCX opened at $200.44 on Monday. The company has a market cap of $250.38 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 0.74 and a beta of 1.97. The company has a current ratio of 2.48, a quick ratio of 1.86 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average price of $284.37 and a 200-day moving average price of $283.67. Lam Research Corporation has a 12-month low of $135.50 and a 12-month high of $438.50.
Lam Research (NASDAQ:LRCX – Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.02. The company had revenue of $8.22 billion for the quarter, compared to analysts’ expectations of $8.14 billion. Lam Research had a net margin of 32.34% and a return on equity of 72.15%. Lam Research’s revenue for the quarter was up 54.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.26 earnings per share. As a group, equities analysts forecast that Lam Research Corporation will post 9.59 earnings per share for the current fiscal year.
Lam Research announced that its Board of Directors has initiated a stock buyback program on Thursday, November 5th that permits the company to repurchase $25 billion in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 9% of its shares through open market purchases. Share buyback programs are typically an indication that the company’s management believes its stock is undervalued.
Lam Research Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 6th. Shareholders of record on Wednesday, December 2nd will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, December 2nd. Lam Research’s payout ratio is currently 19.67%.
More Lam Research News
Here are the key news stories impacting Lam Research this week:
- Positive Sentiment: The authorization allows Lam Research to repurchase up to about 9% of its shares. Investors may view the plan as a sign of management confidence and a potential source of support for per-share earnings. Lam Research Shares Gain on $25 Billion Buyback Authorization
- Positive Sentiment: The company also declared a quarterly dividend of $0.33 per share, payable January 6 to shareholders of record December 2. Lam Research Corporation Announces $25 Billion Share Repurchase Authorization and Declares Quarterly Dividend
- Neutral Sentiment: The buyback has drawn attention to LRCX’s significant presence in semiconductor, technology and Nasdaq-100 funds; overlapping holdings could amplify the stock’s effect on investors’ portfolios in either direction. Own a Semiconductor ETF? Lam Research’s Buyback Move Affects You
- Negative Sentiment: Broader chip-sector volatility remains a risk: recent coverage cited concerns about AI-related spending, possible capital-expenditure slowdowns, regulation and investor profit-taking. Those worries could temper gains if they persist. Chip Stocks Just Had Their Second-Worst Day on Record
Insider Buying and Selling
In other news, insider Ava Harter sold 5,000 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $302.46, for a total value of $1,512,300.00. Following the transaction, the insider owned 42,462 shares of the company’s stock, valued at $12,843,056.52. This represents a 10.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bethany Mayer sold 9,557 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the sale, the director owned 20,995 shares in the company, valued at approximately $6,607,966.30. This trade represents a 31.28% decrease in their position. The SEC filing for this sale provides additional information. 0.31% of the stock is owned by insiders.
Analyst Ratings Changes
LRCX has been the subject of several analyst reports. Morgan Stanley set a $339.00 target price on Lam Research and gave the stock an “overweight” rating in a research note on Thursday, October 22nd. UBS Group reissued a “buy” rating and issued a $400.00 price target (down from $425.00) on shares of Lam Research in a report on Thursday, October 22nd. HSBC restated a “hold” rating and issued a $333.00 price objective on shares of Lam Research in a research report on Monday, July 27th. Bank of America reaffirmed a “buy” rating and set a $345.00 price objective on shares of Lam Research in a research note on Thursday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $375.00 target price on shares of Lam Research in a report on Monday, October 19th. Twenty-six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and a consensus target price of $360.23.
Read Our Latest Analysis on LRCX
Lam Research Profile
Lam Research is a global supplier of equipment and services used to manufacture semiconductors. Its products help chipmakers create and process the microscopic structures that form integrated circuits.
The company’s wafer fabrication equipment is used for processes including etch, thin-film deposition and wafer cleaning. Lam also provides services such as equipment maintenance, upgrades, spare parts and other support for chip manufacturing operations.
Founded in 1980 and headquartered in Fremont, California, Lam Research serves semiconductor manufacturers around the world.
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