Scotia Capital Inc. acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 2,854 shares of the semiconductor company’s stock, valued at approximately $525,000.
A number of other institutional investors also recently added to or reduced their stakes in LRCX. Krilogy Financial LLC boosted its holdings in Lam Research by 91.6% in the third quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock valued at $102,000 after acquiring an additional 263 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Lam Research by 144.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock valued at $122,000 after acquiring an additional 392 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Lam Research in the third quarter valued at about $134,000. Fuller & Thaler Asset Management Inc. bought a new position in Lam Research in the third quarter valued at about $185,000. Finally, Stephens Inc. AR boosted its holdings in Lam Research by 100.0% in the third quarter. Stephens Inc. AR now owns 1,072 shares of the semiconductor company’s stock valued at $198,000 after acquiring an additional 536 shares during the last quarter. Hedge funds and other institutional investors own 90.06% of the company’s stock.
Several equities analysts recently issued reports on the company. BidaskClub upgraded Lam Research from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 10th. Vetr cut Lam Research from a “strong-buy” rating to a “buy” rating and set a $240.39 price target on the stock. in a report on Monday. Stifel Nicolaus raised their price target on Lam Research from $235.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, January 25th. ValuEngine upgraded Lam Research from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Morgan Stanley raised their target price on Lam Research from $229.00 to $238.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Twenty-six analysts have rated the stock with a buy rating, Lam Research presently has an average rating of “Buy” and a consensus price target of $239.28.
Shares of Lam Research Co. (NASDAQ:LRCX) opened at $224.95 on Monday. Lam Research Co. has a 1 year low of $118.37 and a 1 year high of $226.08. The stock has a market capitalization of $36,656.16, a P/E ratio of 16.41, a P/E/G ratio of 0.90 and a beta of 1.43. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.47 and a quick ratio of 2.09.
Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.68 by $0.66. Lam Research had a return on equity of 36.08% and a net margin of 17.60%. The business had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter last year, the firm earned $2.24 EPS. Lam Research’s revenue for the quarter was up 37.1% compared to the same quarter last year. equities analysts expect that Lam Research Co. will post 16.74 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 7th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Tuesday, March 6th. Lam Research’s dividend payout ratio is presently 22.05%.
Lam Research declared that its board has authorized a stock buyback program on Tuesday, November 14th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
About Lam Research
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.
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.