Exxonmobil Investment Management Inc. TX Reduces Stake in Lam Research Co. (LRCX)

Exxonmobil Investment Management Inc. TX trimmed its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 13.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,750 shares of the semiconductor company’s stock after selling 3,917 shares during the quarter. Exxonmobil Investment Management Inc. TX’s holdings in Lam Research were worth $4,740,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Lam Research by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 16,162,079 shares of the semiconductor company’s stock valued at $2,285,802,000 after acquiring an additional 411,951 shares during the period. Janus Henderson Group PLC increased its position in Lam Research by 5.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,014,215 shares of the semiconductor company’s stock valued at $927,828,000 after acquiring an additional 271,546 shares during the period. Nordea Investment Management AB increased its position in 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 valued at $291,488,000 after acquiring an additional 626,034 shares during the period. UBS Asset Management Americas Inc. increased its position in Lam Research by 9.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 977,791 shares of the semiconductor company’s stock valued at $138,289,000 after acquiring an additional 84,912 shares during the period. Finally, Old Mutual Global Investors UK Ltd. increased its position in Lam Research by 3.2% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 907,278 shares of the semiconductor company’s stock valued at $167,882,000 after acquiring an additional 28,318 shares during the period. Institutional investors and hedge funds own 93.37% of the company’s stock.

Several research firms recently commented on LRCX. Zacks Investment Research upgraded Lam Research from a “sell” rating to a “hold” rating and set a $221.00 target price on the stock in a research report on Friday, October 13th. KeyCorp restated a “buy” rating and issued a $225.00 target price on shares of Lam Research in a research report on Sunday, November 19th. Argus raised their target price on Lam Research from $196.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, October 19th. Needham & Company LLC restated a “buy” rating and issued a $220.00 target price (up from $200.00) on shares of Lam Research in a research report on Friday, October 13th. Finally, Berenberg Bank restated a “buy” rating and issued a $240.00 target price on shares of Lam Research in a research report on Thursday, October 19th. Three equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $213.83.

Shares of Lam Research Co. (LRCX) opened at $191.66 on Thursday. The firm has a market capitalization of $31,040.00, a price-to-earnings ratio of 17.50, a PEG ratio of 0.90 and a beta of 1.57. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.83 and a current ratio of 3.31. Lam Research Co. has a one year low of $106.80 and a one year high of $219.70.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.19. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.46 billion. Lam Research had a return on equity of 30.19% and a net margin of 22.85%. The company’s revenue was up 51.8% compared to the same quarter last year. During the same period last year, the company posted $1.81 EPS. research analysts anticipate that Lam Research Co. will post 14.74 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Wednesday, December 6th were paid a dividend of $0.50 per share. The ex-dividend date was Tuesday, December 5th. This is a positive change from Lam Research’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 1.04%. Lam Research’s dividend payout ratio (DPR) is currently 18.26%.

Lam Research announced that its Board of Directors has approved a stock buyback program on Tuesday, November 14th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

In other news, insider Martin B. Anstice sold 21,955 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $211.16, for a total value of $4,636,017.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Patrick J. Lord sold 264 shares of the firm’s stock in a transaction on Friday, November 24th. The stock was 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. Over the last three months, insiders have sold 32,769 shares of company stock valued at $6,904,451. Corporate insiders own 0.41% of the company’s stock.

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

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