Redpoint Investment Management Pty Ltd Grows Stock Position in Lam Research Co. (NASDAQ:LRCX)


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Redpoint Investment Management Pty Ltd raised its holdings in Lam Research Co. (NASDAQ:LRCX) by 17.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,324 shares of the semiconductor company’s stock after acquiring an additional 655 shares during the quarter. Redpoint Investment Management Pty Ltd’s holdings in Lam Research were worth $2,042,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Heritage Trust Co raised its stake in Lam Research by 23.0% in the third quarter. Heritage Trust Co now owns 7,494 shares of the semiconductor company’s stock valued at $2,485,000 after buying an additional 1,399 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of Lam Research in the fourth quarter valued at about $70,134,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Lam Research by 7.9% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 25,174 shares of the semiconductor company’s stock valued at $8,351,000 after purchasing an additional 1,851 shares during the period. Huntington National Bank increased its holdings in shares of Lam Research by 13.9% in the fourth quarter. Huntington National Bank now owns 104,966 shares of the semiconductor company’s stock valued at $49,573,000 after purchasing an additional 12,777 shares during the period. Finally, Greenleaf Trust increased its holdings in shares of Lam Research by 2.0% in the third quarter. Greenleaf Trust now owns 2,035 shares of the semiconductor company’s stock valued at $675,000 after purchasing an additional 40 shares during the period. Institutional investors own 76.86% of the company’s stock.

In other news, CEO Timothy Archer sold 15,793 shares of the firm’s stock in a transaction that occurred on Tuesday, December 29th. The stock was sold at an average price of $475.66, for a total value of $7,512,098.38. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Leslie F. Varon sold 225 shares of Lam Research stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $406.45, for a total value of $91,451.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,758 shares of company stock worth $26,985,698. Company insiders own 0.34% of the company’s stock.

A number of brokerages have recently weighed in on LRCX. Morgan Stanley increased their price objective on Lam Research from $420.00 to $553.00 and gave the company an “overweight” rating in a report on Monday, December 14th. UBS Group increased their price objective on Lam Research from $400.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Mizuho increased their price objective on Lam Research from $410.00 to $530.00 and gave the company a “buy” rating in a report on Monday, December 28th. The Goldman Sachs Group raised their target price on Lam Research from $451.00 to $557.00 and gave the stock a “buy” rating in a report on Monday, December 14th. Finally, Needham & Company LLC lowered Lam Research from a “buy” rating to a “hold” rating in a report on Friday, January 8th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $412.96.

NASDAQ LRCX opened at $526.50 on Thursday. The company has a market cap of $75.82 billion, a PE ratio of 29.86, a price-to-earnings-growth ratio of 1.34 and a beta of 1.33. The stock’s 50 day simple moving average is $485.38 and its 200-day simple moving average is $388.56. Lam Research Co. has a 1-year low of $181.38 and a 1-year high of $537.86. The company has a debt-to-equity ratio of 0.92, a current ratio of 3.31 and a quick ratio of 2.68.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 21st. The semiconductor company reported $5.67 earnings per share for the quarter, beating the consensus estimate of $5.17 by $0.50. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.10 billion. Lam Research had a return on equity of 55.82% and a net margin of 23.60%. During the same quarter last year, the business posted $3.18 earnings per share. On average, equities research analysts anticipate that Lam Research Co. will post 22.31 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 6th. Stockholders of record on Wednesday, December 9th were given a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, December 8th. This represents a $5.20 annualized dividend and a dividend yield of 0.99%. Lam Research’s dividend payout ratio (DPR) is presently 32.60%.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits in the United States, China, Europe, Japan, Korea, Taiwan, and the southeast Asia. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.

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

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