Vigilant Capital Management LLC Buys 1,703 Shares of Lam Research Corp. (LRCX)
Vigilant Capital Management LLC increased its position in Lam Research Corp. (NASDAQ:LRCX) by 1.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 102,588 shares of the company’s stock after buying an additional 1,703 shares during the period. Lam Research Corp. makes up about 1.7% of Vigilant Capital Management LLC’s investment portfolio, making the stock its 15th largest position. Vigilant Capital Management LLC owned approximately 0.06% of Lam Research Corp. worth $9,716,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. MSI Financial Services Inc boosted its position in Lam Research Corp. by 40.2% in the third quarter. MSI Financial Services Inc now owns 1,095 shares of the company’s stock valued at $104,000 after buying an additional 314 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Lam Research Corp. by 28.6% in the second quarter. Quadrant Capital Group LLC now owns 1,258 shares of the company’s stock valued at $103,000 after buying an additional 280 shares during the last quarter. Mizuho Asset Management Co. Ltd. boosted its position in Lam Research Corp. by 92.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,060 shares of the company’s stock valued at $173,000 after buying an additional 992 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in Lam Research Corp. during the second quarter valued at about $177,000. Finally, Johnson Financial Group Inc. boosted its position in Lam Research Corp. by 6,044.7% in the second quarter. Johnson Financial Group Inc. now owns 2,335 shares of the company’s stock valued at $196,000 after buying an additional 2,297 shares during the last quarter.
Lam Research Corp. (NASDAQ:LRCX) traded down 0.49% during midday trading on Wednesday, hitting $107.04. The stock had a trading volume of 648,443 shares. The stock has a 50-day moving average of $99.65 and a 200-day moving average of $90.97. The firm has a market cap of $17.43 billion, a P/E ratio of 21.25 and a beta of 1.49. Lam Research Corp. has a 52 week low of $63.10 and a 52 week high of $108.04.
Lam Research Corp. (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 19th. The company reported $1.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.03. Lam Research Corp. had a net margin of 15.02% and a return on equity of 18.43%. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the firm earned $1.82 EPS. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. Analysts forecast that Lam Research Corp. will post $8.28 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Wednesday, December 14th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Monday, December 12th. This is a boost from Lam Research Corp.’s previous quarterly dividend of $0.30. Lam Research Corp.’s payout ratio is 23.86%.
Several research analysts have recently issued reports on the company. B. Riley reissued a “buy” rating and issued a $106.00 price target on shares of Lam Research Corp. in a research note on Tuesday, August 2nd. DA Davidson reaffirmed a “buy” rating and set a $110.00 target price on shares of Lam Research Corp. in a research note on Monday, August 15th. Morgan Stanley reaffirmed an “overweight” rating and set a $105.00 target price on shares of Lam Research Corp. in a research note on Saturday, October 8th. Stifel Nicolaus raised their target price on Lam Research Corp. from $102.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 20th. Finally, Bank of America Corp. reaffirmed a “buy” rating and set a $115.00 target price on shares of Lam Research Corp. in a research note on Monday, November 21st. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $107.24.
In related news, insider Richard A. Gottscho sold 47,540 shares of Lam Research Corp. stock in a transaction that occurred on Thursday, October 6th. The shares were sold at an average price of $98.85, for a total value of $4,699,329.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Douglas R. Bettinger sold 9,956 shares of Lam Research Corp. stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $106.88, for a total transaction of $1,064,097.28. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by corporate insiders.
About Lam Research Corp.
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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