Corient Capital Partners LLC bought a new position in Lam Research Co. (NASDAQ:LRCX) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,807 shares of the semiconductor company’s stock, valued at approximately $1,576,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund grew its stake in shares of Lam Research by 35,969.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 15,760,316 shares of the semiconductor company’s stock valued at $116,000 after buying an additional 15,716,622 shares during the period. FMR LLC grew its stake in shares of Lam Research by 88.0% during the 4th quarter. FMR LLC now owns 6,652,531 shares of the semiconductor company’s stock valued at $905,875,000 after buying an additional 3,114,393 shares during the period. American International Group Inc. grew its stake in shares of Lam Research by 1,921.2% during the 4th quarter. American International Group Inc. now owns 2,848,583 shares of the semiconductor company’s stock valued at $387,892,000 after buying an additional 2,707,651 shares during the period. Norges Bank purchased a new stake in shares of Lam Research during the 4th quarter valued at $215,477,000. Finally, Parnassus Investments CA grew its stake in shares of Lam Research by 114.3% during the 4th quarter. Parnassus Investments CA now owns 1,500,000 shares of the semiconductor company’s stock valued at $204,255,000 after buying an additional 800,000 shares during the period. 86.51% of the stock is owned by hedge funds and other institutional investors.
LRCX stock traded up $5.46 during midday trading on Wednesday, reaching $181.28. The company had a trading volume of 1,916,090 shares, compared to its average volume of 2,271,921. Lam Research Co. has a 1 year low of $122.64 and a 1 year high of $209.50. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.37 and a quick ratio of 2.79. The stock has a market capitalization of $26.93 billion, a P/E ratio of 10.14, a P/E/G ratio of 1.05 and a beta of 1.63. The company’s 50 day moving average price is $185.21.
Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, April 24th. The semiconductor company reported $3.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.38 by $0.32. Lam Research had a net margin of 25.64% and a return on equity of 46.66%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the firm earned $4.79 EPS. The company’s revenue was down 15.7% compared to the same quarter last year. As a group, equities research analysts predict that Lam Research Co. will post 14.33 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Wednesday, June 12th will be paid a dividend of $1.10 per share. The ex-dividend date is Tuesday, June 11th. This represents a $4.40 annualized dividend and a dividend yield of 2.43%. Lam Research’s dividend payout ratio (DPR) is 24.62%.
LRCX has been the subject of several research reports. Citigroup reissued a “buy” rating and set a $215.00 price objective (up from $177.00) on shares of Lam Research in a research note on Friday, March 15th. Mizuho reaffirmed a “buy” rating and set a $180.00 price target on shares of Lam Research in a research report on Tuesday, April 16th. Zacks Investment Research raised shares of Lam Research from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. UBS Group upped their price target on shares of Lam Research from $170.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Finally, KeyCorp upped their price target on shares of Lam Research from $223.00 to $236.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $224.78.
In other news, Director Abhijit Y. Talwalkar sold 3,988 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $195.00, for a total transaction of $777,660.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Richard A. Gottscho sold 7,248 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $209.26, for a total transaction of $1,516,716.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,379 shares of company stock worth $3,554,335. 0.44% of the stock is currently owned by company insiders.
Lam Research Profile
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.
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