Investec Asset Management LTD lowered its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,379,766 shares of the company’s stock after selling 40,304 shares during the period. Lam Research Corporation accounts for approximately 1.3% of Investec Asset Management LTD’s investment portfolio, making the stock its 16th largest position. Investec Asset Management LTD owned about 1.46% of Lam Research Corporation worth $251,613,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of LRCX. BlackRock Investment Management LLC raised its position in Lam Research Corporation by 209.6% in the second quarter. BlackRock Investment Management LLC now owns 1,093,309 shares of the company’s stock worth $91,904,000 after buying an additional 740,148 shares in the last quarter. CFO4Life L.P. raised its position in Lam Research Corporation by 9.7% in the second quarter. CFO4Life L.P. now owns 6,719 shares of the company’s stock worth $565,000 after buying an additional 592 shares in the last quarter. Scout Investments Inc. raised its position in Lam Research Corporation by 2.2% in the second quarter. Scout Investments Inc. now owns 208,091 shares of the company’s stock worth $17,492,000 after buying an additional 4,426 shares in the last quarter. KLCM Advisors Inc. bought a new position in Lam Research Corporation during the second quarter worth approximately $783,000. Finally, GMT Capital Corp raised its position in Lam Research Corporation by 185.7% in the second quarter. GMT Capital Corp now owns 815,600 shares of the company’s stock worth $68,559,000 after buying an additional 530,100 shares in the last quarter.
Lam Research Corporation (NASDAQ:LRCX) traded down 0.22% during trading on Friday, reaching $114.32. 548,381 shares of the company’s stock traded hands. The firm’s 50 day moving average is $112.82 and its 200 day moving average is $101.32. Lam Research Corporation has a 12 month low of $68.19 and a 12 month high of $119.14. The company has a market cap of $18.62 billion, a P/E ratio of 20.49 and a beta of 1.44.
Lam Research Corporation (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 25th. The company reported $2.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.19 by $0.05. Lam Research Corporation had a net margin of 15.67% and a return on equity of 19.95%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the business earned $1.57 earnings per share. Lam Research Corporation’s quarterly revenue was up 32.0% on a year-over-year basis. Analysts anticipate that Lam Research Corporation will post $9.23 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 29th. Stockholders of record on Wednesday, March 8th will be given a dividend of $0.45 per share. The ex-dividend date is Monday, March 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.57%. Lam Research Corporation’s payout ratio is 32.37%.
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Several research analysts have issued reports on LRCX shares. B. Riley restated a “buy” rating and issued a $150.00 price target on shares of Lam Research Corporation in a research report on Saturday, January 28th. Susquehanna Bancshares Inc lifted their price target on shares of Lam Research Corporation from $92.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, January 26th. Needham & Company LLC restated a “buy” rating and issued a $145.00 price target (up previously from $135.00) on shares of Lam Research Corporation in a research report on Thursday, January 26th. Citigroup Inc. restated a “buy” rating on shares of Lam Research Corporation in a research report on Wednesday, January 25th. Finally, Cowen and Company restated an “outperform” rating and issued a $125.00 price target (up previously from $105.00) on shares of Lam Research Corporation in a research report on Tuesday, January 24th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $119.18.
In other news, insider Martin B. Anstice sold 16,000 shares of the company’s stock in a transaction that occurred on Friday, December 2nd. The shares were sold at an average price of $100.54, for a total transaction of $1,608,640.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Timothy Archer sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, December 23rd. The stock was sold at an average price of $107.42, for a total transaction of $537,100.00. The disclosure for this sale can be found here. Insiders have sold 121,752 shares of company stock worth $13,405,808 over the last quarter. 0.46% of the stock is owned by company insiders.
About Lam Research Corporation
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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