The Manufacturers Life Insurance Company boosted its stake in Lam Research Co. (NASDAQ:LRCX) by 5.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 146,917 shares of the semiconductor company’s stock after acquiring an additional 7,964 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Lam Research were worth $26,300,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Berman Capital Advisors LLC acquired a new stake in shares of Lam Research during the fourth quarter valued at $26,000. Global Retirement Partners LLC boosted its stake in shares of Lam Research by 119.4% during the first quarter. Global Retirement Partners LLC now owns 147 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 80 shares during the last quarter. FTB Advisors Inc. boosted its stake in shares of Lam Research by 72.0% during the fourth quarter. FTB Advisors Inc. now owns 215 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 90 shares during the last quarter. Zions Bancorporation N.A. acquired a new stake in shares of Lam Research during the first quarter valued at $28,000. Finally, Strategy Asset Managers LLC acquired a new stake in shares of Lam Research during the first quarter valued at $33,000. 86.77% of the stock is currently owned by hedge funds and other institutional investors.
LRCX has been the topic of a number of analyst reports. Mizuho reaffirmed a “buy” rating and set a $180.00 price objective on shares of Lam Research in a research note on Tuesday, April 16th. Citigroup reiterated a “buy” rating and set a $215.00 target price (up from $177.00) on shares of Lam Research in a research report on Friday, March 15th. Needham & Company LLC increased their target price on Lam Research from $180.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. B. Riley upgraded Lam Research from a “neutral” rating to a “buy” rating and increased their target price for the stock from $170.00 to $235.00 in a research report on Monday, April 22nd. Finally, Morgan Stanley downgraded Lam Research from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $224.78.
Lam Research stock opened at $180.19 on Friday. The stock has a market capitalization of $26.97 billion, a PE ratio of 10.08, a PEG ratio of 1.05 and a beta of 1.63. The company has a current ratio of 3.37, a quick ratio of 2.79 and a debt-to-equity ratio of 0.71. Lam Research Co. has a 12 month low of $122.64 and a 12 month high of $209.50.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $3.70 EPS for the quarter, topping analysts’ consensus estimates of $3.38 by $0.32. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. Lam Research had a return on equity of 46.66% and a net margin of 25.64%. The company’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same period last year, the business posted $4.79 EPS. On average, equities analysts forecast that Lam Research Co. will post 14.33 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Wednesday, June 12th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, June 11th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.44%. Lam Research’s dividend payout ratio (DPR) is 24.62%.
In related news, insider Richard A. Gottscho sold 7,248 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $209.26, for a total transaction of $1,516,716.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Abhijit Y. Talwalkar sold 3,988 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $203.00, for a total value of $809,564.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,379 shares of company stock worth $3,554,335. Company insiders own 0.44% of the company’s stock.
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Lam Research Profile
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.
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