Ossiam Purchases Shares of 35,329 Lam Research Co. (NASDAQ:LRCX)

Ossiam acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,329 shares of the semiconductor company's stock, valued at approximately $2,552,000.

Other hedge funds have also recently bought and sold shares of the company. Pine Valley Investments Ltd Liability Co increased its holdings in Lam Research by 48.3% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 11,464 shares of the semiconductor company's stock worth $9,364,000 after purchasing an additional 3,732 shares in the last quarter. Arvest Bank Trust Division bought a new position in shares of Lam Research during the 3rd quarter worth approximately $18,106,000. Wilmington Savings Fund Society FSB increased its stake in shares of Lam Research by 383.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,547 shares of the semiconductor company's stock valued at $3,711,000 after acquiring an additional 3,607 shares in the last quarter. Tidal Investments LLC boosted its stake in Lam Research by 409.6% during the third quarter. Tidal Investments LLC now owns 37,420 shares of the semiconductor company's stock worth $30,538,000 after acquiring an additional 30,077 shares in the last quarter. Finally, Synovus Financial Corp increased its stake in Lam Research by 22.4% in the third quarter. Synovus Financial Corp now owns 3,071 shares of the semiconductor company's stock valued at $2,508,000 after purchasing an additional 561 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the transaction, the senior vice president now directly 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 filing with the SEC, which is accessible through this link. 0.29% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on LRCX shares. TD Securities cut their price target on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday. Susquehanna upgraded shares of Lam Research from a "neutral" rating to a "positive" rating and upped their price objective for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Morgan Stanley upped their target price on shares of Lam Research from $81.00 to $82.00 and gave the stock an "equal weight" rating in a report on Thursday. Cantor Fitzgerald reissued an "overweight" rating and set a $90.00 price objective on shares of Lam Research in a report on Thursday. Finally, Jefferies Financial Group upped their price target on Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Six analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $92.80.

Lam Research Price Performance

NASDAQ LRCX traded up $4.17 during trading hours on Thursday, hitting $70.90. The company had a trading volume of 18,141,720 shares, compared to its average volume of 12,180,611. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The firm has a market capitalization of $91.01 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 1.47 and a beta of 1.52. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The firm has a 50 day simple moving average of $73.69 and a 200 day simple moving average of $75.62.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Equities research analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research's dividend payout ratio is 27.96%.

Lam Research Company Profile

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.