Cambridge Investment Research Advisors Inc. Buys 5,006 Shares of Lam Research Corporation (LRCX)
Cambridge Investment Research Advisors Inc. boosted its stake in Lam Research Corporation (NASDAQ:LRCX) by 38.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,928 shares of the semiconductor company’s stock after acquiring an additional 5,006 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Lam Research Corporation were worth $3,317,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of LRCX. Odey Holdings AG increased its position in Lam Research Corporation by 9.9% in the 2nd quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock valued at $115,000 after acquiring an additional 73 shares during the period. BDO Wealth Advisors LLC acquired a new position in Lam Research Corporation in the 2nd quarter valued at about $118,000. Bollard Group LLC acquired a new position in Lam Research Corporation in the 3rd quarter valued at about $130,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Lam Research Corporation in the 2nd quarter valued at about $134,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Lam Research Corporation in the 3rd quarter valued at about $134,000. Hedge funds and other institutional investors own 93.05% of the company’s stock.
Several equities analysts have issued reports on the company. B. Riley reiterated a “buy” rating and set a $220.00 target price on shares of Lam Research Corporation in a research report on Tuesday, August 1st. Cowen and Company reiterated an “outperform” rating and set a $185.00 target price (up previously from $150.00) on shares of Lam Research Corporation in a research report on Thursday, July 27th. Argus assumed coverage on Lam Research Corporation in a research report on Tuesday, September 12th. They set a “buy” rating and a $196.00 target price on the stock. ValuEngine upgraded Lam Research Corporation from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 3rd. Finally, DA Davidson reiterated a “buy” rating on shares of Lam Research Corporation in a research report on Wednesday, October 18th. Five research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $212.89.
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Lam Research Corporation (NASDAQ:LRCX) traded down $2.75 during mid-day trading on Friday, reaching $210.47. The company had a trading volume of 1,907,328 shares, compared to its average volume of 2,081,047. Lam Research Corporation has a 12-month low of $97.79 and a 12-month high of $217.00. 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 stock has a market cap of $34,530.00, a price-to-earnings ratio of 17.97, a P/E/G ratio of 0.97 and a beta of 1.63.
Lam Research Corporation (NASDAQ:LRCX) last posted its earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. Lam Research Corporation had a return on equity of 30.19% and a net margin of 22.85%. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the prior year, the company earned $1.81 EPS. Lam Research Corporation’s revenue was up 51.8% on a year-over-year basis. analysts anticipate that Lam Research Corporation will post 14.45 EPS for the current year.
Lam Research Corporation declared that its Board of Directors has authorized a share repurchase program on Tuesday, November 14th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Wednesday, December 6th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, December 5th. This represents a $2.00 dividend on an annualized basis and a yield of 0.95%. This is a positive change from Lam Research Corporation’s previous quarterly dividend of $0.45. Lam Research Corporation’s dividend payout ratio is presently 16.44%.
In related news, Director Michael R. Cannon sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $212.43, for a total value of $1,911,870.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stephen G. Newberry sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $195.09, for a total value of $146,317.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,419 shares of company stock worth $9,079,367. 0.41% of the stock is owned by corporate insiders.
Lam Research Corporation 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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