Leavell Investment Management Inc. raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 3.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,350 shares of the semiconductor company’s stock after purchasing an additional 350 shares during the quarter. Leavell Investment Management Inc.’s holdings in Lam Research were worth $1,721,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in LRCX. Janus Henderson Group PLC grew its stake in shares of Lam Research by 23,238.8% in the 2nd quarter. Janus Henderson Group PLC now owns 4,742,669 shares of the semiconductor company’s stock worth $670,756,000 after acquiring an additional 4,722,348 shares in the last quarter. Schroder Investment Management Group grew its stake in shares of Lam Research by 3,248.5% in the 3rd quarter. Schroder Investment Management Group now owns 703,625 shares of the semiconductor company’s stock worth $127,933,000 after acquiring an additional 682,612 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of 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 acquiring an additional 626,034 shares in the last quarter. GQG Partners LLC bought a new stake in shares of Lam Research in the 2nd quarter worth $87,726,000. Finally, Vanguard Group Inc. grew its stake in shares of Lam Research by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 16,162,079 shares of the semiconductor company’s stock worth $2,285,802,000 after acquiring an additional 411,951 shares in the last quarter. Institutional investors and hedge funds own 93.37% of the company’s stock.
LRCX has been the subject of several recent analyst reports. KeyCorp reiterated a “buy” rating and issued a $225.00 target price (up previously from $202.00) on shares of Lam Research in a research note on Wednesday, October 18th. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 target price (up previously from $200.00) on shares of Lam Research in a research note on Friday, October 13th. DA Davidson reiterated a “buy” rating and issued a $215.00 target price on shares of Lam Research in a research note on Thursday, October 12th. Stifel Nicolaus upped their target price on shares of Lam Research from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Finally, B. Riley upped their target price on shares of Lam Research from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, October 16th. Three investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Lam Research currently has an average rating of “Buy” and a consensus target price of $213.83.
Lam Research Co. (LRCX) opened at $189.12 on Friday. The company has a quick ratio of 2.83, a current ratio of 3.31 and a debt-to-equity ratio of 0.24. The firm has a market cap of $30,630.00, a PE ratio of 17.27, a P/E/G ratio of 0.90 and a beta of 1.57. Lam Research Co. has a fifty-two week low of $106.80 and a fifty-two week high of $219.70.
Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.27 by $0.19. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.46 billion. Lam Research had a net margin of 22.85% and a return on equity of 30.19%. The firm’s quarterly revenue was up 51.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.81 EPS. analysts predict that Lam Research Co. will post 14.74 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Wednesday, December 6th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, December 5th. This is an increase from Lam Research’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 1.06%. Lam Research’s dividend payout ratio is 18.26%.
Lam Research announced that its board has approved a stock buyback plan on Tuesday, November 14th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are 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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