William Blair Investment Management LLC increased its holdings in Lam Research Co. (NASDAQ: LRCX – Get Rating) by 30.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 147,912 shares of the semiconductor company stock after acquiring an additional 34,486 shares during the quarter. William Blair Investment Management LLC’s holdings in Lam Research were worth $ 106,371,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Missouri Trust & Investment Co bought a new position in Lam Research in the fourth quarter valued at $ 25,000. Allegheny Financial Group LTD bought a new position in Lam Research in the fourth quarter valued at $ 25,000. Vectors Research Management LLC increased its stake in Lam Research by 133.3% in the fourth quarter. Vectors Research Management LLC now owns 35 shares of the semiconductor company stock valued at $ 25,000 after acquiring an additional 20 shares during the last quarter. Stonebridge Capital Advisors LLC increased its stake in Lam Research by 100.0% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 38 shares of the semiconductor company stock valued at $ 27,000 after acquiring an additional 19 shares during the last quarter. Finally, Delos Wealth Advisors LLC bought a new position in Lam Research in the fourth quarter valued at $ 30,000. Institutional investors own 82.34% of the company stock.
In other Lam Research news, SVP Scott Gerald Meikle sold 700 shares of the firm’s stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $ 541.22, for a total value of $ 378,854.00. Following the completion of the sale, the senior vice president now directly owns 20,425 shares in the company, valued at $ 11,054,418.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Catherine P. Lego bought 1,736 shares of the stock in a transaction dated Tuesday, April 26th. The shares were acquired at an average price of $ 460.35 per share, with a total value of $ 799,167.60. Following the completion of the acquisition, the director now directly owns 49,991 shares of the company stock, valued at approximately $ 23,013,356.85. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company stock.
A number of research analysts have recently issued reports on the company. DA Davidson reduced their price objective on Lam Research from $ 725.00 to $ 575.00 in a research note on Thursday, April 21st. Stifel Nicolaus raised their price objective on Lam Research from $ 775.00 to $ 837.00 in a research note on Thursday, April 7th. StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a research note on Thursday, March 24th. Morgan Stanley reduced their price objective on Lam Research from $ 730.00 to $ 625.00 and set an “overweight” rating on the stock in a research note on Thursday, April 21st. Finally, B. Riley cut Lam Research from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $ 625.00 to $ 525.00 in a research note on Wednesday. Twelve research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $ 668.74.
Shares of LRCX opened at $ 418.30 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.83 and a quick ratio of 2.00. Lam Research Co. has a one year low of $ 412.69 and a one year high of $ 731.85. The company has a 50-day simple moving average of $ 480.86 and a two-hundred day simple moving average of $ 563.71. The firm has a market capitalization of $ 58.02 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 0.97 and a beta of 1.26.
Lam Research (NASDAQ: LRCX – Get Rating) last issued its quarterly earnings data on Wednesday, April 20th. The semiconductor company reported $ 7.40 EPS for the quarter, missing the consensus estimate of $ 7.48 by ($ 0.08). Lam Research had a return on equity of 75.51% and a net margin of 27.13%. The company had revenue of $ 4.06 billion during the quarter, compared to analysts’ expectations of $ 4.24 billion. During the same quarter last year, the business earned $ 7.49 earnings per share. The business’s quarterly revenue was up 5.5% on a year-over-year basis. Analysts expect that Lam Research Co. will post 31.59 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 6th. Shareholders of record on Wednesday, June 15th will be issued a $ 1.50 dividend. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $ 6.00 annualized dividend and a yield of 1.43%. Lam Research’s dividend payout ratio (DPR) is presently 18.76%.
About Lam Research: (Get Rating)
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; SABER 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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