Trust Investment Advisors cut its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 29.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,305 shares of the semiconductor company’s stock after selling 950 shares during the quarter. Trust Investment Advisors’ holdings in Lam Research were worth $314,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. We Are One Seven LLC acquired a new stake in shares of Lam Research during the 4th quarter worth approximately $26,000. Duncker Streett & Co. Inc. boosted its position in shares of Lam Research by 100.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 200 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 100 shares in the last quarter. Csenge Advisory Group acquired a new stake in shares of Lam Research during the 3rd quarter worth approximately $35,000. IMS Capital Management acquired a new stake in shares of Lam Research during the 3rd quarter worth approximately $38,000. Finally, Parkside Financial Bank & Trust boosted its position in shares of Lam Research by 44.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 347 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 107 shares in the last quarter. 89.11% of the stock is currently owned by institutional investors.
In related news, Director Christine Heckart sold 2,050 shares of Lam Research stock in a transaction on Friday, February 1st. The shares were sold at an average price of $172.98, for a total transaction of $354,609.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kevin Jennings sold 1,692 shares of Lam Research stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $180.00, for a total transaction of $304,560.00. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by insiders.
Shares of NASDAQ:LRCX traded up $0.74 during mid-day trading on Wednesday, reaching $179.99. 22,803 shares of the company’s stock were exchanged, compared to its average volume of 3,124,957. The firm has a market cap of $27.46 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 1.05 and a beta of 1.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.61 and a current ratio of 3.39. Lam Research Co. has a twelve month low of $122.64 and a twelve month high of $234.88.
Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 23rd. The semiconductor company reported $3.87 EPS for the quarter, topping analysts’ consensus estimates of $3.67 by $0.20. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.50 billion. Lam Research had a net margin of 26.69% and a return on equity of 48.08%. Lam Research’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.34 earnings per share. Sell-side analysts forecast that Lam Research Co. will post 13.9 EPS for the current year.
Lam Research declared that its Board of Directors has authorized a share repurchase program on Wednesday, January 23rd that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the semiconductor company to buy up to 23% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
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About Lam Research
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.
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