Jaffetilchin Investment Partners LLC reduced its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 13.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,554 shares of the semiconductor company’s stock after selling 1,194 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Lam Research were worth $1,390,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of LRCX. Janus Henderson Group PLC grew its holdings in shares of Lam Research by 23,238.8% during the second quarter. Janus Henderson Group PLC now owns 4,742,669 shares of the semiconductor company’s stock valued at $670,756,000 after buying an additional 4,722,348 shares during the last quarter. Schroder Investment Management Group boosted its holdings in Lam Research by 3,248.5% during the third quarter. Schroder Investment Management Group now owns 703,625 shares of the semiconductor company’s stock worth $127,933,000 after purchasing an additional 682,612 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Lam Research by 66.0% during the third 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 during the last quarter. GQG Partners LLC purchased a new position in Lam Research during the second quarter worth about $87,726,000. Finally, Vanguard Group Inc. boosted its holdings in Lam Research by 2.6% during the second quarter. Vanguard Group Inc. now owns 16,162,079 shares of the semiconductor company’s stock worth $2,285,802,000 after purchasing an additional 411,951 shares during the last quarter. Hedge funds and other institutional investors own 93.37% of the company’s stock.
Lam Research Co. (NASDAQ:LRCX) traded down $0.31 during midday trading on Wednesday, hitting $197.57. 2,954,000 shares of the stock traded hands, compared to its average volume of 2,379,550. Lam Research Co. has a one year low of $106.80 and a one year high of $219.70. The company has a current ratio of 3.31, a quick ratio of 2.83 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $31,080.00, a price-to-earnings ratio of 18.04, a P/E/G ratio of 0.90 and a beta of 1.57.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Wednesday, December 6th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Tuesday, December 5th. This is a positive change from Lam Research’s previous quarterly dividend of $0.45. Lam Research’s dividend payout ratio is 18.26%.
Lam Research announced that its board has authorized a share buyback program on Tuesday, November 14th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
Several research firms recently weighed in on LRCX. BidaskClub upgraded shares of Lam Research from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Zacks Investment Research cut shares of Lam Research from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 26th. Vetr cut shares of Lam Research from a “strong-buy” rating to a “buy” rating and set a $215.24 price target on the stock. in a report on Wednesday. JPMorgan Chase & Co. restated a “buy” rating and set a $230.00 price target on shares of Lam Research in a report on Wednesday, October 18th. Finally, DA Davidson restated a “buy” rating on shares of Lam Research in a report on Wednesday, October 18th. Three investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $213.83.
In related news, VP Patrick J. Lord sold 264 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $216.08, for a total transaction of $57,045.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Martin B. Anstice sold 21,955 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $211.16, for a total transaction of $4,636,017.80. The disclosure for this sale can be found here. Insiders have sold a total of 32,769 shares of company stock worth $6,904,451 in the last ninety days. 0.41% of the stock is currently owned by insiders.
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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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