Carnick & Kubik Group LLC Has $3.45 Million Holdings in Lam Research Co. (LRCX)
Carnick & Kubik Group LLC grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 6.5% during the 4th quarter, Holdings Channel reports. The firm owned 18,723 shares of the semiconductor company’s stock after purchasing an additional 1,150 shares during the quarter. Carnick & Kubik Group LLC’s holdings in Lam Research were worth $3,446,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Signature Estate & Investment Advisors LLC boosted 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 purchasing an additional 527 shares during the last quarter. Putnam FL Investment Management Co. acquired a new stake in shares of Lam Research during the 3rd quarter worth about $15,390,000. Epoch Investment Partners Inc. boosted 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 purchasing an additional 600 shares during the last quarter. Financial Enhancement Group LLC acquired a new stake in shares of Lam Research during the 3rd quarter worth about $295,000. Finally, Lourd Capital LLC acquired a new stake in shares of Lam Research during the 4th quarter worth about $360,000. 92.49% of the stock is currently owned by institutional investors.
Lam Research Co. (NASDAQ LRCX) opened at $172.95 on Tuesday. Lam Research Co. has a 1-year low of $113.20 and a 1-year high of $219.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.47 and a quick ratio of 2.09. The company has a market cap of $28,010.00, a P/E ratio of 19.05, a P/E/G ratio of 0.67 and a beta of 1.47.
Lam Research announced that its Board of Directors has initiated a stock buyback plan on Tuesday, November 14th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Investors 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 yield of 1.16%. Lam Research’s payout ratio is 22.03%.
In other Lam Research news, insider Seshasayee Varadarajan sold 25,453 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $215.00, for a total value of $5,472,395.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Martin B. Anstice sold 21,955 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $211.16, for a total transaction of $4,636,017.80. The disclosure for this sale can be found here. Insiders sold 56,722 shares of company stock worth $12,088,028 in the last 90 days. 0.41% of the stock is currently owned by insiders.
Several equities research analysts have issued reports on LRCX shares. Berenberg Bank reaffirmed a “buy” rating and set a $240.00 price target on shares of Lam Research in a research note on Thursday, October 19th. Needham & Company LLC increased their price objective on shares of Lam Research from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. Bank of America increased their price objective on shares of Lam Research from $230.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $230.00 price objective on shares of Lam Research in a report on Wednesday, October 18th. Finally, KeyCorp reiterated a “buy” rating and set a $225.00 price objective (up from $202.00) on shares of Lam Research in a report on Wednesday, October 18th. Two analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Lam Research currently has an average rating of “Buy” and a consensus target price of $232.41.
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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