Retirement Systems of Alabama lowered its stake in Lam Research Co. (NASDAQ:LRCX) by 0.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 78,479 shares of the semiconductor company’s stock after selling 336 shares during the period. Retirement Systems of Alabama’s holdings in Lam Research were worth $14,446,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Krilogy Financial LLC lifted its stake in Lam Research by 91.6% in the third quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock valued at $102,000 after buying an additional 263 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Lam Research by 144.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock valued at $122,000 after purchasing an additional 392 shares during the last quarter. Bollard Group LLC acquired a new stake in shares of Lam Research in the third quarter valued at approximately $130,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Lam Research in the third quarter valued at approximately $134,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Lam Research in the third quarter valued at approximately $185,000. 92.49% of the stock is currently owned by hedge funds and other institutional investors.
In other Lam Research news, VP Patrick J. Lord sold 264 shares of the company’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $216.08, for a total value of $57,045.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Seshasayee Varadarajan sold 25,453 shares of the company’s stock in a transaction 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. Over the last quarter, insiders sold 25,767 shares of company stock worth $5,540,141. Corporate insiders own 0.41% of the company’s stock.
Lam Research Co. (NASDAQ:LRCX) opened at $187.91 on Friday. The firm has a market cap of $30,620.31, a price-to-earnings ratio of 13.71, a P/E/G ratio of 0.76 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. The company has a current ratio of 2.47, a quick ratio of 2.09 and a debt-to-equity ratio of 0.29.
Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.68 by $0.66. The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.57 billion. Lam Research had a net margin of 17.60% and a return on equity of 36.08%. The firm’s revenue for the quarter was up 37.1% on a year-over-year basis. During the same period in the previous year, the company earned $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 stock buyback plan on Tuesday, November 14th that authorizes the company to repurchase $2.00 billion in outstanding 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 board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 7th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, March 6th. This represents a $2.00 annualized dividend and a dividend yield of 1.06%. Lam Research’s dividend payout ratio is currently 22.05%.
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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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