Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 371.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,594 shares of the semiconductor company's stock after buying an additional 6,772 shares during the quarter. Peapack Gladstone Financial Corp's holdings in Lam Research were worth $621,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in LRCX. Darden Wealth Group Inc raised its stake in shares of Lam Research by 935.0% in the fourth quarter. Darden Wealth Group Inc now owns 7,690 shares of the semiconductor company's stock valued at $555,000 after acquiring an additional 6,947 shares during the period. Himension Capital Singapore PTE. LTD. raised its position in Lam Research by 10,671.3% in the 4th quarter. Himension Capital Singapore PTE. LTD. now owns 112,345 shares of the semiconductor company's stock worth $8,115,000 after purchasing an additional 111,302 shares during the period. Quadrant Capital Group LLC lifted its stake in Lam Research by 856.6% in the fourth quarter. Quadrant Capital Group LLC now owns 19,830 shares of the semiconductor company's stock worth $1,433,000 after purchasing an additional 17,757 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Lam Research by 1,141.3% during the fourth quarter. Russell Investments Group Ltd. now owns 2,058,641 shares of the semiconductor company's stock valued at $148,687,000 after buying an additional 1,892,798 shares during the period. Finally, Wedbush Securities Inc. lifted its stake in shares of Lam Research by 1,421.8% during the 4th quarter. Wedbush Securities Inc. now owns 16,512 shares of the semiconductor company's stock worth $1,193,000 after acquiring an additional 15,427 shares during the last quarter. Institutional investors own 84.61% of the company's stock.

Remove Ads

Lam Research Stock Up 1.6 %

LRCX stock traded up $1.05 on Friday, hitting $67.48. 14,704,156 shares of the company's stock were exchanged, compared to its average volume of 12,144,348. The firm has a 50 day moving average price of $76.49 and a two-hundred day moving average price of $76.49. Lam Research Co. has a 12-month low of $56.32 and a 12-month high of $113.00. The stock has a market cap of $86.62 billion, a P/E ratio of 20.50, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research's dividend payout ratio (DPR) is presently 27.96%.

Insider Activity at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Oppenheimer reduced their target price on Lam Research from $95.00 to $80.00 and set an "outperform" rating on the stock in a research note on Friday. Wolfe Research downgraded shares of Lam Research from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 15th. Barclays decreased their price target 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. The Goldman Sachs Group dropped their price objective on Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Finally, Susquehanna raised Lam Research from a "neutral" rating to a "positive" rating and lifted their target price for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $96.87.

Lam Research 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.