GMT Capital Corp Has $66.91 Million Stake in Lam Research Corporation (LRCX)
GMT Capital Corp cut its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 1.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 361,600 shares of the semiconductor company’s stock after selling 4,100 shares during the period. Lam Research Corporation comprises approximately 1.4% of GMT Capital Corp’s holdings, making the stock its 20th largest position. GMT Capital Corp owned approximately 0.22% of Lam Research Corporation worth $66,910,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Odey Holdings AG grew its position in Lam Research Corporation by 9.9% during the second quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock valued at $115,000 after purchasing an additional 73 shares in the last quarter. BDO Wealth Advisors LLC purchased a new position in Lam Research Corporation during the second quarter valued at approximately $118,000. Bollard Group LLC purchased a new position in Lam Research Corporation during the third quarter valued at approximately $130,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Lam Research Corporation during the second quarter valued at approximately $134,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Lam Research Corporation during the third quarter valued at approximately $134,000. 93.61% of the stock is currently owned by hedge funds and other institutional investors.
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A number of analysts have issued reports on the stock. B. Riley reiterated a “buy” rating and issued a $220.00 target price on shares of Lam Research Corporation in a research note on Tuesday, August 1st. Cowen Inc reiterated an “outperform” rating and issued a $185.00 target price (up from $150.00) on shares of Lam Research Corporation in a research note on Thursday, July 27th. Argus assumed coverage on shares of Lam Research Corporation in a research note on Tuesday, September 12th. They issued a “buy” rating and a $196.00 target price for the company. ValuEngine upgraded shares of Lam Research Corporation from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 3rd. Finally, DA Davidson reiterated a “buy” rating on shares of Lam Research Corporation in a research note on Wednesday, October 18th. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $212.89.
Shares of Lam Research Corporation (NASDAQ LRCX) opened at $215.17 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.31 and a quick ratio of 2.83. Lam Research Corporation has a one year low of $97.79 and a one year high of $219.70. The firm has a market cap of $34,845.96, a price-to-earnings ratio of 18.53, a PEG ratio of 0.98 and a beta of 1.63.
Lam Research Corporation (NASDAQ:LRCX) last issued its quarterly earnings data on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.27 by $0.19. Lam Research Corporation had a net margin of 22.85% and a return on equity of 30.19%. The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the previous year, the company earned $1.81 earnings per share. Lam Research Corporation’s revenue for the quarter was up 51.8% on a year-over-year basis. research analysts anticipate that Lam Research Corporation will post 14.74 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Wednesday, December 6th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.93%. This is a boost from Lam Research Corporation’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, December 5th. Lam Research Corporation’s payout ratio is presently 16.45%.
Lam Research Corporation announced that its Board of Directors has authorized a share buyback program on Tuesday, November 14th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
In other news, insider Martin B. Anstice sold 21,955 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $211.16, for a total value of $4,636,017.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen G. Newberry sold 750 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $170.00, for a total transaction of $127,500.00. The disclosure for this sale can be found here. Insiders sold 71,374 shares of company stock valued at $13,715,385 over the last 90 days. 0.41% of the stock is owned by corporate 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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