Groesbeck Investment Management Corp NJ lifted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 21.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,606 shares of the semiconductor company’s stock after purchasing an additional 2,806 shares during the quarter. Lam Research accounts for about 2.0% of Groesbeck Investment Management Corp NJ’s portfolio, making the stock its 20th biggest position. Groesbeck Investment Management Corp NJ’s holdings in Lam Research were worth $2,873,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC raised its position in shares of Lam Research by 5.7% during the third quarter. Janus Henderson Group PLC now owns 5,014,215 shares of the semiconductor company’s stock worth $927,828,000 after purchasing an additional 271,546 shares during the period. Nordea Investment Management AB raised its position in shares of 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 period. Old Mutual Global Investors UK Ltd. raised its position in shares of Lam Research by 3.2% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 907,278 shares of the semiconductor company’s stock worth $167,882,000 after purchasing an additional 28,318 shares during the period. Alkeon Capital Management LLC raised its position in shares of Lam Research by 1.2% during the third quarter. Alkeon Capital Management LLC now owns 827,493 shares of the semiconductor company’s stock worth $153,119,000 after purchasing an additional 10,000 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Lam Research by 2.0% during the third quarter. Legal & General Group Plc now owns 820,678 shares of the semiconductor company’s stock worth $151,850,000 after purchasing an additional 15,912 shares during the period. 92.92% of the stock is currently owned by institutional investors.

Lam Research Co. (LRCX) opened at $165.87 on Friday. 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 stock has a market capitalization of $27,460.00, a PE ratio of 18.27, a P/E/G ratio of 0.65 and a beta of 1.47. Lam Research Co. has a fifty-two week low of $113.20 and a fifty-two week high of $219.70.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.68 by $0.66. The firm had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.57 billion. Lam Research had a return on equity of 36.08% and a net margin of 17.60%. The business’s revenue was up 37.1% compared to the same quarter last year. During the same period last year, the company earned $2.24 earnings per share. analysts anticipate that Lam Research Co. will post 16.74 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 7th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, March 6th. This represents a $2.00 dividend on an annualized basis and a yield of 1.21%. Lam Research’s dividend payout ratio is 22.03%.

Lam Research declared that its board has authorized a share buyback plan on Tuesday, November 14th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the semiconductor company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

LRCX has been the topic of a number of research analyst reports. Deutsche Bank raised their price target on Lam Research to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Zacks Investment Research lowered Lam Research from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. KeyCorp reaffirmed a “buy” rating and set a $225.00 price target on shares of Lam Research in a research report on Sunday, November 19th. UBS Group raised Lam Research from a “neutral” rating to a “positive” rating in a research report on Tuesday, January 16th. Finally, Royal Bank of Canada raised their price target on Lam Research from $210.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 15th. Two investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $232.41.

In other Lam Research news, insider Seshasayee Varadarajan sold 25,453 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $215.00, for a total value of $5,472,395.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Patrick J. Lord sold 264 shares of the firm’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 value of $57,045.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,722 shares of company stock valued at $12,088,028. Corporate insiders own 0.41% of the company’s stock.

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

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