BKD Wealth Advisors LLC raised its position in shares of Lam Research Co. (NASDAQ:LRCX) by 13.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,803 shares of the semiconductor company’s stock after purchasing an additional 333 shares during the period. BKD Wealth Advisors LLC’s holdings in Lam Research were worth $516,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Krilogy Financial LLC lifted its stake in shares of Lam Research by 91.6% in the 3rd quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock worth $102,000 after acquiring an additional 263 shares during the period. Bollard Group LLC acquired a new stake in shares of Lam Research in the 3rd quarter worth approximately $130,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Lam Research in the 3rd quarter worth approximately $134,000. Odey Holdings AG lifted its stake in shares of Lam Research by 9.9% in the 2nd quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock worth $115,000 after acquiring an additional 73 shares during the period. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Lam Research in the 3rd quarter worth approximately $185,000. 93.45% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Michael R. Cannon sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $212.43, for a total transaction of $1,911,870.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Patrick J. Lord sold 264 shares of the business’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 disclosure for this sale can be found here. Insiders have sold 31,269 shares of company stock worth $6,615,633 in the last 90 days. 0.41% of the stock is owned by company insiders.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.27 by $0.19. Lam Research had a net margin of 22.85% and a return on equity of 30.19%. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the previous year, the business earned $1.81 earnings per share. The firm’s revenue was up 51.8% compared to the same quarter last year. analysts forecast that Lam Research Co. will post 14.74 EPS for the current fiscal year.
Lam Research announced that its board has initiated a share buyback plan 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. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders 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 represents a $2.00 dividend on an annualized basis and a dividend yield of 0.97%. This is a positive change from Lam Research’s previous quarterly dividend of $0.45. Lam Research’s payout ratio is currently 18.26%.
A number of brokerages have recently weighed in on LRCX. Zacks Investment Research lowered shares of Lam Research from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 26th. BidaskClub raised shares of Lam Research from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 10th. Vetr lowered shares of Lam Research from a “strong-buy” rating to a “buy” rating and set a $215.24 price target for the company. in a research note on Wednesday, January 10th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $230.00 price target on shares of Lam Research in a research note on Wednesday, October 18th. Finally, DA Davidson reaffirmed a “buy” rating on shares of Lam Research in a research note on Wednesday, October 18th. Two analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $220.80.
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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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