First Quadrant L P CA raised its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 4.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 5,225 shares of the semiconductor company’s stock after purchasing an additional 225 shares during the quarter. First Quadrant L P CA’s holdings in Lam Research were worth $935,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently bought and sold shares of LRCX. Oregon Public Employees Retirement Fund lifted its stake in 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 acquiring an additional 15,716,622 shares during the period. FMR LLC lifted its stake in 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 acquiring an additional 3,114,393 shares during the period. American International Group Inc. lifted its stake in 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 acquiring an additional 2,707,651 shares during the period. Norges Bank bought a new position in Lam Research during the 4th quarter valued at about $215,477,000. Finally, Parnassus Investments CA lifted its stake in 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 acquiring an additional 800,000 shares during the period. Institutional investors and hedge funds own 89.20% of the company’s stock.
Several equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Lam Research from a “sell” rating to a “hold” rating in a research note on Friday. UBS Group upped their target price on shares of Lam Research from $170.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday. Deutsche Bank upped their target price on shares of Lam Research from $180.00 to $195.00 and gave the company a “hold” rating in a research note on Thursday. KeyCorp upped their target price on shares of Lam Research from $223.00 to $236.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Cowen restated an “outperform” rating and set a $235.00 target price (up previously from $223.00) on shares of Lam Research in a research note on Thursday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the stock. Lam Research has a consensus rating of “Hold” and a consensus target price of $224.78.
Shares of NASDAQ:LRCX opened at $206.39 on Friday. Lam Research Co. has a twelve month low of $122.64 and a twelve month high of $209.92. The company has a current ratio of 3.39, a quick ratio of 2.61 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $31.29 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 1.17 and a beta of 1.52.
Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $3.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.38 by $0.32. Lam Research had a net margin of 26.69% and a return on equity of 48.08%. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the prior year, the business earned $4.79 EPS. The business’s quarterly revenue was down 15.7% on a year-over-year basis. As a group, analysts expect that Lam Research Co. will post 13.89 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Wednesday, March 20th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Tuesday, March 19th. Lam Research’s dividend payout ratio (DPR) is presently 24.62%.
Lam Research announced that its board has initiated a stock buyback program on Wednesday, January 23rd that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 23% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.
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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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