3,346 Shares in Lam Research Co. (LRCX) Purchased by Cetera Investment Advisers
Cetera Investment Advisers bought a new stake in Lam Research Co. (NASDAQ:LRCX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,346 shares of the semiconductor company’s stock, valued at approximately $622,000.
A number of other institutional investors have also added to or reduced their stakes in the business. Signature Estate & Investment Advisors LLC raised its stake in shares of Lam Research by 15.2% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 3,986 shares of the semiconductor company’s stock worth $738,000 after buying an additional 527 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Lam Research by 5.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 560,705 shares of the semiconductor company’s stock worth $79,301,000 after buying an additional 28,662 shares during the last quarter. Putnam FL Investment Management Co. acquired a new position in shares of Lam Research during the 3rd quarter worth $15,390,000. Pacad Investment Ltd. raised its stake in shares of Lam Research by 252.5% during the 2nd quarter. Pacad Investment Ltd. now owns 36,369 shares of the semiconductor company’s stock worth $5,144,000 after buying an additional 26,052 shares during the last quarter. Finally, Epoch Investment Partners Inc. raised its stake in shares of Lam Research by 0.9% during the 3rd quarter. Epoch Investment Partners Inc. now owns 64,708 shares of the semiconductor company’s stock worth $11,974,000 after buying an additional 600 shares during the last quarter. 93.80% of the stock is owned by institutional investors.
Shares of Lam Research Co. (LRCX) opened at $182.10 on Friday. The company has a quick ratio of 2.83, a current ratio of 3.31 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $29,404.57, a PE ratio of 15.64, a price-to-earnings-growth ratio of 0.83 and a beta of 1.57. Lam Research Co. has a fifty-two week low of $104.01 and a fifty-two week high of $219.70.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Wednesday, December 6th will be issued a $0.50 dividend. This is a boost from Lam Research’s previous quarterly dividend of $0.45. The ex-dividend date is Tuesday, December 5th. This represents a $2.00 annualized dividend and a yield of 1.10%. Lam Research’s payout ratio is 18.28%.
Lam Research announced that its board has approved a stock repurchase plan on Tuesday, November 14th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Several research firms have recently issued reports on LRCX. Zacks Investment Research downgraded Lam Research from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 26th. BidaskClub cut Lam Research from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. Nomura upgraded Lam Research from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $103.01 to $215.00 in a research report on Thursday, December 7th. J P Morgan Chase & Co reiterated a “buy” rating and set a $230.00 price objective on shares of Lam Research in a research report on Wednesday, October 18th. Finally, DA Davidson reiterated a “buy” rating on shares of Lam Research in a research report on Wednesday, October 18th. Four research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $212.99.
In other Lam Research news, COO Timothy Archer sold 15,638 shares of Lam Research stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $175.65, for a total value of $2,746,814.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen G. Newberry sold 750 shares of Lam Research stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $175.00, for a total value of $131,250.00. The disclosure for this sale can be found here. Insiders sold a total of 62,247 shares of company stock valued at $12,162,864 in the last 90 days. 0.41% of the stock is owned by company insiders.
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Lam Research 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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