Legal & General Group Plc grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,001,147 shares of the semiconductor company’s stock after acquiring an additional 11,529 shares during the period. Legal & General Group Plc owned about 0.69% of Lam Research worth $240,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently bought and sold shares of the company. Princeton Global Asset Management LLC bought a new position in shares of Lam Research during the 4th quarter valued at approximately $25,000. Ancora Advisors LLC bought a new stake in Lam Research during the 4th quarter worth approximately $27,000. FSA Wealth Management LLC purchased a new position in Lam Research during the fourth quarter valued at approximately $28,000. Altshuler Shaham Ltd lifted its holdings in Lam Research by 9,900.0% during the fourth quarter. Altshuler Shaham Ltd now owns 100 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 99 shares in the last quarter. Finally, Atticus Wealth Management LLC bought a new position in shares of Lam Research in the first quarter worth approximately $26,000. Hedge funds and other institutional investors own 85.09% of the company’s stock.
In related news, CEO Timothy Archer sold 28,910 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $270.00, for a total value of $7,805,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.43% of the company’s stock.
Several brokerages have recently commented on LRCX. Wells Fargo & Co raised their price objective on shares of Lam Research from $210.00 to $270.00 and gave the company an “equal weight” rating in a research report on Thursday, April 23rd. Nomura Securities upgraded Lam Research from a “neutral” rating to a “buy” rating and set a $265.00 price objective on the stock in a research report on Thursday, April 2nd. ValuEngine upgraded Lam Research from a “sell” rating to a “hold” rating in a research report on Tuesday, March 24th. Bank of America reissued a “buy” rating and set a $325.00 target price on shares of Lam Research in a research note on Monday, April 20th. Finally, Credit Suisse Group restated a “buy” rating and issued a $370.00 price target on shares of Lam Research in a research note on Thursday, April 23rd. Eight investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $305.08.
Shares of NASDAQ LRCX traded down $10.90 during mid-day trading on Thursday, hitting $290.40. 57,331 shares of the company’s stock traded hands, compared to its average volume of 2,257,503. The company’s 50-day moving average is $265.76 and its two-hundred day moving average is $277.88. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.47 and a quick ratio of 3.67. The company has a market capitalization of $43.89 billion, a P/E ratio of 20.82, a PEG ratio of 1.55 and a beta of 1.33. Lam Research Co. has a 1 year low of $172.38 and a 1 year high of $344.32.
Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, April 22nd. The semiconductor company reported $3.98 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $3.98. Lam Research had a return on equity of 47.79% and a net margin of 21.81%. The company had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the previous year, the firm posted $3.70 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts anticipate that Lam Research Co. will post 15.39 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Wednesday, June 17th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Tuesday, June 16th. Lam Research’s dividend payout ratio is currently 31.62%.
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.
Featured Story: What is an Initial Public Offering (IPO)?
Want to see what other hedge funds are holding LRCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lam Research Co. (NASDAQ:LRCX).
Receive News & Ratings for Lam Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lam Research and related companies with MarketBeat.com's FREE daily email newsletter.