Frontier Capital Management Co. LLC decreased its holdings in Lam Research Co. (NASDAQ:LRCX) by 2.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 390,486 shares of the semiconductor company’s stock after selling 9,246 shares during the quarter. Frontier Capital Management Co. LLC’s holdings in Lam Research were worth $69,901,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in LRCX. We Are One Seven LLC purchased a new position in Lam Research in the fourth quarter worth $26,000. Berman Capital Advisors LLC purchased a new position in Lam Research in the fourth quarter worth $26,000. Duncker Streett & Co. Inc. raised its position in Lam Research by 100.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 200 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 100 shares in the last quarter. FTB Advisors Inc. raised its position in Lam Research by 72.0% in the fourth quarter. FTB Advisors Inc. now owns 215 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 90 shares in the last quarter. Finally, Stevens First Principles Investment Advisors purchased a new position in Lam Research in the first quarter worth $36,000. Hedge funds and other institutional investors own 89.70% of the company’s stock.
Shares of LRCX stock opened at $194.46 on Friday. Lam Research Co. has a fifty-two week low of $122.64 and a fifty-two week high of $209.50. The firm has a market capitalization of $29.31 billion, a PE ratio of 10.88, a PEG ratio of 1.14 and a beta of 1.57. 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Wednesday, June 12th will be paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Tuesday, June 11th. Lam Research’s payout ratio is currently 24.62%.
Lam Research announced that its board has approved a share repurchase plan on Wednesday, January 23rd that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 23% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
Several research firms have issued reports on LRCX. Zacks Investment Research cut Lam Research from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. Mizuho reiterated a “buy” rating and issued a $180.00 price objective on shares of Lam Research in a research report on Tuesday, April 16th. Needham & Company LLC increased their price objective on Lam Research from $180.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. UBS Group increased their price objective on 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 increased their price objective on 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, nine have given a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $224.78.
In related news, insider Patrick J. Lord sold 9,177 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $185.00, for a total transaction of $1,697,745.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Richard A. Gottscho sold 2,155 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $209.00, for a total value of $450,395.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,125 shares of company stock worth $6,772,290. Corporate insiders own 0.44% of the company’s stock.
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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 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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