AIA Group Ltd raised its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 911.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,329 shares of the semiconductor company's stock after purchasing an additional 4,802 shares during the period. AIA Group Ltd's holdings in Lam Research were worth $385,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of LRCX. Dynamic Technology Lab Private Ltd bought a new stake in Lam Research in the third quarter valued at about $220,000. Virtus Investment Advisers Inc. acquired a new position in shares of Lam Research in the 3rd quarter worth approximately $245,000. Fairway Wealth LLC grew its position in shares of Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 306 shares in the last quarter. Financial Perspectives Inc increased its holdings in shares of Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 309 shares during the last quarter. Finally, Atwood & Palmer Inc. acquired a new stake in shares of Lam Research during the 4th quarter valued at approximately $27,000. Institutional investors and hedge funds own 84.61% of the company's stock.
Analyst Ratings Changes
A number of research firms have commented on LRCX. Barclays lowered their target price on shares of Lam Research from $90.00 to $75.00 and set an "equal weight" rating for the company in a research note on Friday, January 17th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $100.00 price target on shares of Lam Research in a report on Tuesday, February 18th. Susquehanna upgraded shares of Lam Research from a "neutral" rating to a "positive" rating and increased their price objective for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Morgan Stanley lifted their target price on Lam Research from $76.00 to $78.00 and gave the company an "equal weight" rating in a research note on Thursday, December 5th. Finally, The Goldman Sachs Group dropped their price target on Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $97.59.
Read Our Latest Research Report on LRCX
Lam Research Price Performance
Shares of LRCX traded down $8.56 during midday trading on Thursday, reaching $65.22. The stock had a trading volume of 19,466,605 shares, compared to its average volume of 11,760,090. The firm's 50 day moving average price is $78.67 and its 200-day moving average price is $77.19. Lam Research Co. has a 52 week low of $65.03 and a 52 week high of $113.00. The company has a market capitalization of $83.72 billion, a P/E ratio of 19.81, a P/E/G ratio of 1.47 and a beta of 1.53. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73.
Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.
Lam Research Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.41%. Lam Research's dividend payout ratio is currently 27.96%.
Insider Activity
In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the transaction, the senior vice president now owns 179,084 shares of the company's stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company's stock.
About Lam Research
(
Free Report)
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.
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