Institute for Wealth Management LLC. bought a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,786 shares of the semiconductor company’s stock, valued at approximately $1,247,000.
Several other hedge funds have also made changes to their positions in LRCX. Janus Henderson Group PLC boosted its stake 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 purchasing an additional 271,546 shares in the last quarter. Nordea Investment Management AB boosted its stake in Lam Research by 66.0% in the 3rd quarter. Nordea Investment Management AB now owns 1,575,269 shares of the semiconductor company’s stock worth $291,488,000 after purchasing an additional 626,034 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Lam Research by 16.3% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,568,123 shares of the semiconductor company’s stock worth $288,644,000 after purchasing an additional 219,479 shares in the last quarter. Old Mutual Global Investors UK Ltd. boosted its stake in Lam Research by 16.4% in the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 1,055,653 shares of the semiconductor company’s stock worth $194,314,000 after purchasing an additional 148,375 shares in the last quarter. Finally, Alkeon Capital Management LLC boosted its stake in Lam Research by 1.2% in the 3rd quarter. Alkeon Capital Management LLC now owns 827,493 shares of the semiconductor company’s stock worth $153,119,000 after purchasing an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.
LRCX has been the topic of a number of analyst reports. BidaskClub cut shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Susquehanna Bancshares upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and upped their price target for the stock from $200.00 to $250.00 in a research note on Tuesday, January 16th. Zacks Investment Research upgraded shares of Lam Research from a “hold” rating to a “buy” rating and set a $234.00 price target on the stock in a research note on Tuesday, January 23rd. DA Davidson reissued a “buy” rating and issued a $235.00 target price on shares of Lam Research in a research report on Monday, January 22nd. Finally, JPMorgan Chase & Co. boosted their target price on Lam Research from $230.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Two research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $232.41.
Shares of Lam Research Co. (LRCX) opened at $193.47 on Wednesday. Lam Research Co. has a 52-week low of $116.40 and a 52-week high of $219.70. The company has a market cap of $32,334.66, a PE ratio of 14.47, a PEG ratio of 0.80 and a beta of 1.47. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.09 and a current ratio of 2.47.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.68 by $0.66. Lam Research had a net margin of 17.60% and a return on equity of 36.08%. The firm had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the prior year, the firm earned $2.24 EPS. The business’s revenue for the quarter was up 37.1% compared to the same quarter last year. sell-side analysts expect that Lam Research Co. will post 16.74 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Wednesday, March 7th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Tuesday, March 6th. Lam Research’s payout ratio is currently 22.05%.
Lam Research announced that its board has initiated a stock buyback program on Tuesday, November 14th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.
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Lam Research Company 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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