Teachers Retirement System of The State of Kentucky lessened its position in Lam Research Co. (NASDAQ:LRCX) by 8.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 100,742 shares of the semiconductor company’s stock after selling 9,260 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Lam Research were worth $18,543,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in LRCX. Krilogy Financial LLC increased its stake in Lam Research by 91.6% during the 3rd quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock valued at $102,000 after buying an additional 263 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Lam Research by 144.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock worth $122,000 after purchasing an additional 392 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Lam Research in the 3rd quarter worth approximately $134,000. Focused Wealth Management Inc acquired a new position in shares of Lam Research in the 4th quarter worth approximately $140,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in shares of Lam Research in the 3rd quarter worth approximately $185,000. 90.06% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Richard A. Gottscho sold 16,866 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $210.02, for a total transaction of $3,542,197.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Seshasayee Varadarajan sold 25,453 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $215.00, for a total transaction of $5,472,395.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,619 shares of company stock worth $10,790,107. Insiders own 0.41% of the company’s stock.
Shares of Lam Research Co. (LRCX) opened at $228.65 on Tuesday. The company has a current ratio of 2.47, a quick ratio of 2.09 and a debt-to-equity ratio of 0.29. The company has a market cap of $36,656.16, a P/E ratio of 25.21, a P/E/G ratio of 0.90 and a beta of 1.43. Lam Research Co. has a fifty-two week low of $120.00 and a fifty-two week high of $230.00.
Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 EPS for the quarter, topping the consensus estimate of $3.68 by $0.66. The business had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Lam Research had a net margin of 17.60% and a return on equity of 36.08%. The firm’s quarterly revenue was up 37.1% compared to the same quarter last year. During the same period last year, the company posted $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 approved a share buyback plan on Tuesday, November 14th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 7th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.87%. The ex-dividend date is Tuesday, March 6th. Lam Research’s payout ratio is presently 22.05%.
About Lam Research
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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