Spark Investment Management LLC purchased a new stake in Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 12,100 shares of the semiconductor company’s stock, valued at approximately $2,227,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Krilogy Financial LLC boosted its holdings in shares of Lam Research by 91.6% in the 3rd quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock valued at $102,000 after purchasing an additional 263 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Lam Research by 144.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock valued at $122,000 after purchasing an additional 392 shares during the last quarter. Bollard Group LLC purchased a new position in shares of Lam Research in the 3rd quarter valued at $130,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Lam Research in the 3rd quarter valued at $134,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in shares of Lam Research in the 3rd quarter valued at $185,000. Institutional investors own 90.28% of the company’s stock.
Lam Research Co. (LRCX) traded down $1.61 during midday trading on Thursday, hitting $191.86. 3,608,200 shares of the stock traded hands, compared to its average volume of 3,722,554. Lam Research Co. has a 1-year low of $116.40 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 firm has a market cap of $31,180.00, a price-to-earnings ratio of 65.26, a PEG ratio of 0.78 and a beta of 1.47.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Wednesday, March 7th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Tuesday, March 6th. Lam Research’s dividend payout ratio (DPR) is presently 68.26%.
Lam Research declared that its board has initiated a share repurchase plan on Tuesday, November 14th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the semiconductor company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
A number of equities analysts have recently commented on LRCX shares. Deutsche Bank raised their target price on shares of Lam Research to $230.00 and gave the company a “buy” rating in a research note on Wednesday, November 15th. Zacks Investment Research downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. KeyCorp reissued a “buy” rating and issued a $225.00 target price on shares of Lam Research in a research note on Sunday, November 19th. JPMorgan Chase & Co. raised 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. Finally, Stifel Nicolaus raised their target price on shares of Lam Research from $235.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Two equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $232.41.
In other news, insider Seshasayee Varadarajan sold 25,453 shares of Lam Research stock in a transaction dated 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 available through the SEC website. Insiders own 0.41% of the company’s stock.
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Lam Research Profile
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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