Bard Financial Services Inc. purchased a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,375 shares of the semiconductor company’s stock, valued at approximately $1,594,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Lam Research in the fourth quarter worth approximately $728,936,000. Sands Capital Management LLC bought a new stake in Lam Research in the fourth quarter worth $658,961,000. FMR LLC increased its position in Lam Research by 12.1% in the fourth quarter. FMR LLC now owns 8,731,016 shares of the semiconductor company’s stock worth $4,123,397,000 after purchasing an additional 940,594 shares during the last quarter. JPMorgan Chase & Co. increased its position in Lam Research by 15.7% during the fourth quarter. JPMorgan Chase & Co. now owns 5,162,415 shares of the semiconductor company’s stock valued at $2,438,054,000 after acquiring an additional 702,353 shares during the last quarter. Finally, Cibc World Markets Corp increased its position in Lam Research by 2,003.3% during the fourth quarter. Cibc World Markets Corp now owns 539,409 shares of the semiconductor company’s stock valued at $254,747,000 after acquiring an additional 513,763 shares during the last quarter. 84.03% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Timothy Archer sold 4,464 shares of the company’s stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $515.00, for a total transaction of $2,298,960.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Patrick J. Lord sold 4,166 shares of the stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of $576.56, for a total transaction of $2,401,948.96. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.
Lam Research (NASDAQ:LRCX) last announced its earnings results on Tuesday, January 26th. The semiconductor company reported $6.03 EPS for the quarter, topping the Zacks’ consensus estimate of $5.72 by $0.31. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.34 billion. Lam Research had a net margin of 23.60% and a return on equity of 55.82%. The firm’s revenue was up 33.8% on a year-over-year basis. During the same period in the previous year, the company posted $4.01 earnings per share. On average, equities analysts predict that Lam Research Co. will post 22.41 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 7th. Stockholders of record on Wednesday, March 17th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, March 16th. This represents a $5.20 annualized dividend and a dividend yield of 0.79%. Lam Research’s dividend payout ratio (DPR) is currently 32.60%.
A number of research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Lam Research from a “hold” rating to a “buy” rating and set a $508.00 price objective on the stock in a research report on Tuesday, February 2nd. Needham & Company LLC cut shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, January 8th. They noted that the move was a valuation call. Barclays boosted their price objective on shares of Lam Research from $405.00 to $600.00 and gave the company an “overweight” rating in a research report on Tuesday, January 26th. They noted that the move was a valuation call. Citigroup boosted their price objective on shares of Lam Research from $420.00 to $660.00 and gave the company a “buy” rating in a research report on Monday, January 25th. Finally, Stifel Nicolaus boosted their price objective on shares of Lam Research from $550.00 to $620.00 in a research report on Thursday, January 28th. Four analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $502.50.
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 products for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.
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