Yeomans Consulting Group Invests $476,000 in Lam Research Stock
Yeomans Consulting Group Inc. has made a strategic investment in Lam Research Corporation, acquiring a new position valued at approximately $476,000 in the third quarter of 2023. According to its latest disclosure with the U.S. Securities and Exchange Commission (SEC), the firm purchased 3,333 shares of the semiconductor company’s stock, signifying a growing interest in the semiconductor sector.
Several other institutional investors have also adjusted their holdings in Lam Research (NASDAQ: LRCX) recently. Notably, Brighton Jones LLC increased its stake by an impressive 1,032.4% during the fourth quarter, now owning 14,189 shares valued at $1,025,000. This significant acquisition saw the firm add 12,936 shares to its portfolio.
In addition, Ieq Capital LLC expanded its holdings by 20.9% in the first quarter, now possessing 185,239 shares worth $13,467,000 after purchasing an extra 32,051 shares. Similarly, Truvestments Capital LLC increased its stake by 19.3% to own 8,704 shares valued at $633,000. Itau Unibanco Holding S.A. reported a remarkable increase of 1,501.4% in its position, acquiring 21,187 shares valued at $1,540,000 after adding 19,864 shares.
Trexquant Investment LP also raised its stake, purchasing an additional 144,606 shares to reach a total of 718,410 shares valued at $52,228,000. These institutional investors collectively own 84.61% of Lam Research’s stock, reflecting a robust confidence in the company’s future performance.
Insider Transactions and Financial Performance
In recent insider activity, Chief Financial Officer Douglas R. Bettinger sold 40,080 shares on November 14, 2023, at an average price of $150.60, totaling $6,036,048. Following this transaction, Bettinger retains 987,237 shares, valued at approximately $148,677,892.20, indicating a 3.90% decrease in ownership.
Another insider, Ava Harter, sold 9,010 shares on October 27, 2023, for $1,418,804.70 at an average price of $157.47. Post-transaction, Harter owns 56,786 shares worth $8,942,091.42, a 13.69% decline in stake. In total, insiders sold 102,608 shares worth $14,916,496 in the past three months, with insiders holding only 0.31% of the company’s stock.
Lam Research reported a 1.2% increase in its share price following its quarterly earnings announcement on October 22, 2023. The company posted earnings of $1.26 per share, surpassing analysts’ expectations of $1.22 by $0.04. Revenue was reported at $5.32 billion, exceeding forecasts of $5.23 billion. The company’s net margin stood at 29.66%, with a return on equity of 60.60%. This represents a 27.7% increase in quarterly revenue compared to the same period last year, where the firm earned $0.86 per share.
Dividend and Analyst Ratings
Lam Research has announced a quarterly dividend of $0.26, set to be paid on January 7, 2024, to shareholders of record as of December 3, 2023. This dividend translates to an annualized amount of $1.04 and a yield of 0.6%, with a payout ratio currently at 22.91%.
Analysts have responded positively to the company’s performance, with several firms updating their price targets. Evercore ISI raised its target from $115.00 to $170.00 with an “outperform” rating. Berenberg Bank and JPMorgan Chase & Co. also increased their price objectives, setting targets at $165.00. Furthermore, TD Cowen adjusted its price target from $145.00 to $170.00. Currently, the consensus among analysts indicates a “Moderate Buy” rating, with an average price target of $161.21 according to MarketBeat.
Founded in 1980 and headquartered in Fremont, California, Lam Research Corporation is a key player in the semiconductor industry, providing essential wafer fabrication equipment and services. The company specializes in advanced technologies that support the production of semiconductor devices, and its operations are crucial for manufacturers in logic and memory sectors.
