Crosslink Capital Inc. boosted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 17.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 102,033 shares of the semiconductor company’s stock after purchasing an additional 14,940 shares during the period. Lam Research accounts for 3.6% of Crosslink Capital Inc.’s investment portfolio, making the stock its 12th biggest holding. Crosslink Capital Inc.’s holdings in Lam Research were worth $18,781,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Krilogy Financial LLC grew its position in Lam Research by 91.6% during the 3rd quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock worth $102,000 after purchasing an additional 263 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Lam Research by 144.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock worth $122,000 after purchasing an additional 392 shares in the last quarter. Bollard Group LLC purchased a new position in Lam Research during the 3rd quarter worth approximately $130,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Lam Research during the 3rd quarter worth approximately $134,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in Lam Research during the 3rd quarter worth approximately $185,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.
Shares of Lam Research Co. (NASDAQ:LRCX) opened at $193.47 on Wednesday. The company has a quick ratio of 2.09, a current ratio of 2.47 and a debt-to-equity ratio of 0.29. Lam Research Co. has a 52 week low of $116.40 and a 52 week high of $219.70. The stock has a market cap of $32,334.66, a price-to-earnings ratio of 21.33, a P/E/G ratio of 0.80 and a beta of 1.47.
Lam Research announced that its board has initiated 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. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 7th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Tuesday, March 6th. Lam Research’s payout ratio is presently 22.05%.
In related news, insider Seshasayee Varadarajan sold 25,453 shares of Lam Research stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.41% of the stock is currently owned by insiders.
Several equities analysts have weighed in on the stock. BidaskClub upgraded shares of Lam Research from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 10th. Stifel Nicolaus lifted their price objective on shares of Lam Research from $235.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. ValuEngine upgraded shares of Lam Research from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Morgan Stanley lifted their target price on shares of Lam Research from $229.00 to $238.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Lam Research from $230.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Two research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $232.41.
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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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