Bayesian Capital Management LP purchased a new stake in Lam Research Co. (NASDAQ:LRCX) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,800 shares of the semiconductor company’s stock, valued at approximately $366,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in LRCX. Candriam Luxembourg S.C.A. grew its position in shares of Lam Research by 48.1% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 21,247 shares of the semiconductor company’s stock valued at $3,911,000 after purchasing an additional 6,901 shares in the last quarter. Cetera Advisors LLC purchased a new position in shares of Lam Research in the fourth quarter valued at $340,000. Cetera Advisor Networks LLC purchased a new position in shares of Lam Research in the fourth quarter valued at $337,000. The Manufacturers Life Insurance Company grew its position in shares of Lam Research by 3.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 185,177 shares of the semiconductor company’s stock valued at $34,086,000 after purchasing an additional 5,355 shares in the last quarter. Finally, D.A. Davidson & CO. grew its position in shares of Lam Research by 22.7% in the fourth quarter. D.A. Davidson & CO. now owns 10,174 shares of the semiconductor company’s stock valued at $1,873,000 after purchasing an additional 1,880 shares in the last quarter. Institutional investors own 88.18% of the company’s stock.
In other news, COO Timothy Archer sold 16,574 shares of the business’s stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $221.41, for a total value of $3,669,649.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sarah A. O’dowd sold 10,000 shares of the business’s stock in a transaction dated Thursday, March 22nd. The shares were sold at an average price of $224.28, for a total value of $2,242,800.00. The disclosure for this sale can be found here. Insiders sold a total of 79,104 shares of company stock valued at $16,755,246 over the last quarter. Company insiders own 0.41% of the company’s stock.
Lam Research opened at $178.41 on Monday, according to Marketbeat Ratings. Lam Research Co. has a 12-month low of $139.24 and a 12-month high of $234.88. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.64 and a quick ratio of 2.21. The stock has a market capitalization of $29.27 billion, a PE ratio of 17.88, a PEG ratio of 0.58 and a beta of 1.43.
Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Tuesday, April 17th. The semiconductor company reported $4.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.38 by $0.41. Lam Research had a return on equity of 41.13% and a net margin of 18.32%. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same period in the prior year, the business earned $3.10 EPS. The company’s revenue for the quarter was up 34.3% compared to the same quarter last year. equities research analysts expect that Lam Research Co. will post 17.52 EPS for the current year.
Lam Research announced that its board has authorized a share repurchase plan on Tuesday, March 6th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 27th. Stockholders of record on Wednesday, June 6th will be issued a $1.10 dividend. This is a boost from Lam Research’s previous quarterly dividend of $0.50. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Tuesday, June 5th. Lam Research’s dividend payout ratio is presently 44.09%.
Several equities analysts have recently weighed in on LRCX shares. Deutsche Bank lifted their price target on Lam Research to $260.00 and gave the company a “buy” rating in a research report on Wednesday, April 18th. KeyCorp restated an “overweight” rating and set a $283.00 target price (up from $276.00) on shares of Lam Research in a research report on Wednesday, April 18th. UBS Group started coverage on Lam Research in a research report on Wednesday, April 4th. They set a “neutral” rating and a $220.00 target price for the company. BidaskClub upgraded Lam Research from a “hold” rating to a “buy” rating in a research report on Saturday, March 3rd. Finally, Vetr cut Lam Research from a “strong-buy” rating to a “buy” rating and set a $240.39 target price for the company. in a research report on Monday, March 12th. Five analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $254.66.
Lam Research Company Profile
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers thin film deposition products, including SABRE electrochemical deposition products for copper damascene manufacturing; ALTUS systems to deposit conformal atomic layer films for tungsten metallization applications; VECTOR plasma-enhanced chemical vapor deposition (CVD) and atomic layer deposition systems to deposit oxides, nitrides, and carbides for hardmasks, multiple patterning films, anti-reflective layers, multi-layer stack films, and diffusion barriers; and Striker atomic layer deposition systems that deliver conformal dielectric films for spacer-based patterning and liner applications in various advanced memory and logic structures.
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