Emerald Advisers Inc. PA bought a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,659 shares of the semiconductor company’s stock, valued at approximately $489,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Alps Advisors Inc. raised its holdings in Lam Research by 5.9% during the fourth quarter. Alps Advisors Inc. now owns 8,736 shares of the semiconductor company’s stock valued at $1,608,000 after buying an additional 488 shares in the last quarter. Calton & Associates Inc. bought a new position in Lam Research during the fourth quarter valued at about $307,000. American Trust Investment Advisors LLC bought a new position in Lam Research during the fourth quarter valued at about $2,344,000. Claraphi Advisory Network LLC bought a new position in Lam Research during the fourth quarter valued at about $734,000. Finally, Huntington National Bank raised its holdings in Lam Research by 141.3% during the fourth quarter. Huntington National Bank now owns 4,123 shares of the semiconductor company’s stock valued at $759,000 after buying an additional 2,414 shares in the last quarter. Institutional investors own 92.92% of the company’s stock.
In other Lam Research news, insider Seshasayee Varadarajan sold 25,453 shares of Lam Research stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $215.00, for a total transaction of $5,472,395.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Patrick J. Lord sold 264 shares of Lam Research stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $216.08, for a total value of $57,045.12. The disclosure for this sale can be found here. Insiders have sold 56,722 shares of company stock worth $12,088,028 over the last ninety days. Company insiders own 0.41% of the company’s stock.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.68 by $0.66. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.57 billion. Lam Research had a return on equity of 36.08% and a net margin of 17.60%. The company’s quarterly revenue was up 37.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.24 earnings per share. analysts anticipate that Lam Research Co. will post 16.74 EPS for the current year.
Lam Research declared that its board has initiated a share repurchase plan on Tuesday, November 14th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 7th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Tuesday, March 6th. Lam Research’s payout ratio is 22.03%.
Several brokerages have recently issued reports on LRCX. BidaskClub raised Lam Research from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 10th. Royal Bank of Canada raised their price target on Lam Research from $185.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, October 18th. Stifel Nicolaus raised their price target on Lam Research from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. DA Davidson reaffirmed a “buy” rating on shares of Lam Research in a research report on Wednesday, October 18th. Finally, ValuEngine raised Lam Research from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Two equities 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 stock. The stock has a consensus rating of “Buy” and an average target price of $232.41.
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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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