Aberdeen Asset Management PLC UK increased its stake in Lam Research Corporation (NASDAQ:LRCX) by 31.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 290,470 shares of the company’s stock after buying an additional 69,142 shares during the period. Aberdeen Asset Management PLC UK’s holdings in Lam Research Corporation were worth $30,712,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. increased its stake in shares of Lam Research Corporation by 3.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 4,240,514 shares of the company’s stock worth $401,619,000 after buying an additional 152,578 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in Lam Research Corporation by 104.9% in the third quarter. TIAA CREF Investment Management LLC now owns 2,493,735 shares of the company’s stock worth $236,182,000 after buying an additional 1,276,856 shares during the last quarter. Two Sigma Advisers LP increased its stake in Lam Research Corporation by 24.5% in the third quarter. Two Sigma Advisers LP now owns 1,994,635 shares of the company’s stock worth $188,912,000 after buying an additional 392,474 shares during the last quarter. BlackRock Advisors LLC increased its stake in Lam Research Corporation by 8.2% in the third quarter. BlackRock Advisors LLC now owns 1,808,575 shares of the company’s stock worth $171,290,000 after buying an additional 137,029 shares during the last quarter. Finally, BlackRock Group LTD increased its stake in Lam Research Corporation by 0.3% in the third quarter. BlackRock Group LTD now owns 1,687,074 shares of the company’s stock worth $159,783,000 after buying an additional 4,669 shares during the last quarter.
Shares of Lam Research Corporation (NASDAQ:LRCX) opened at 115.63 on Wednesday. Lam Research Corporation has a 1-year low of $67.73 and a 1-year high of $119.14. The firm has a market cap of $18.83 billion, a P/E ratio of 20.73 and a beta of 1.44. The firm’s 50-day moving average is $112.40 and its 200-day moving average is $101.12.
Lam Research Corporation (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 25th. The company reported $2.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.19 by $0.05. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.84 billion. Lam Research Corporation had a return on equity of 19.95% and a net margin of 15.67%. The business’s quarterly revenue was up 32.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.57 EPS. On average, analysts anticipate that Lam Research Corporation will post $9.23 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 29th. Investors of record on Wednesday, March 8th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, March 6th. This represents a $1.80 annualized dividend and a dividend yield of 1.56%. Lam Research Corporation’s dividend payout ratio is presently 32.37%.
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LRCX has been the subject of a number of research analyst reports. B. Riley reaffirmed a “buy” rating and issued a $120.00 target price on shares of Lam Research Corporation in a research report on Saturday, November 26th. Cowen and Company restated an “outperform” rating and set a $125.00 price objective (up from $105.00) on shares of Lam Research Corporation in a research report on Tuesday, January 24th. Susquehanna Bancshares Inc lifted their target price on Lam Research Corporation from $92.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, January 26th. Deutsche Bank AG upped their target price on Lam Research Corporation from $115.00 to $125.00 and gave the company a “buy” rating in a report on Monday, January 23rd. Finally, Zacks Investment Research raised shares of Lam Research Corporation from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a research report on Tuesday, January 10th. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $119.18.
In other Lam Research Corporation news, insider Patrick J. Lord sold 1,383 shares of the firm’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $117.02, for a total transaction of $161,838.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Martin B. Anstice sold 16,000 shares of the firm’s stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $100.54, for a total value of $1,608,640.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,752 shares of company stock worth $11,093,408. 0.46% 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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