GPS Wealth Strategies Group LLC decreased its position in shares of Lam Research Corporation (NASDAQ:LRCX – Free Report) by 61.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,497 shares of the semiconductor company’s stock after selling 15,216 shares during the quarter. Lam Research comprises approximately 1.4% of GPS Wealth Strategies Group LLC’s investment portfolio, making the stock its 15th biggest holding. GPS Wealth Strategies Group LLC’s holdings in Lam Research were worth $1,626,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Lam Research by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 130,974,214 shares of the semiconductor company’s stock worth $17,537,447,000 after buying an additional 364,949 shares during the period. State Street Corp raised its holdings in Lam Research by 0.4% during the 3rd quarter. State Street Corp now owns 59,817,352 shares of the semiconductor company’s stock worth $8,024,684,000 after buying an additional 265,805 shares during the period. Invesco Ltd. raised its holdings in Lam Research by 18.2% during the 3rd quarter. Invesco Ltd. now owns 21,182,948 shares of the semiconductor company’s stock worth $2,836,397,000 after buying an additional 3,263,658 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Lam Research by 781.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 11,340,865 shares of the semiconductor company’s stock worth $1,518,542,000 after buying an additional 10,053,978 shares during the period. Finally, Legal & General Group Plc raised its holdings in Lam Research by 1.9% during the 3rd quarter. Legal & General Group Plc now owns 11,088,344 shares of the semiconductor company’s stock worth $1,484,729,000 after buying an additional 208,670 shares during the period. Institutional investors own 84.61% of the company’s stock.
Lam Research Price Performance
Shares of LRCX opened at $305.35 on Friday. The company has a market cap of $381.86 billion, a price-to-earnings ratio of 57.61, a PEG ratio of 2.50 and a beta of 1.81. Lam Research Corporation has a 1-year low of $79.49 and a 1-year high of $309.98. The company’s fifty day simple moving average is $254.07 and its 200 day simple moving average is $215.35. The company has a current ratio of 2.54, a quick ratio of 1.77 and a debt-to-equity ratio of 0.35.
Lam Research Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Wednesday, June 17th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Wednesday, June 17th. Lam Research’s payout ratio is presently 19.62%.
Key Stories Impacting Lam Research
Here are the key news stories impacting Lam Research this week:
- Positive Sentiment: Analysts continue to sound optimistic, with Sanford C. Bernstein raising its price target on Lam Research to $340 from $325 and reiterating an outperform rating, implying further upside from current levels.
- Positive Sentiment: The company is benefiting from strong AI-related chip demand, which is driving customers to buy more wafer fabrication equipment and supporting the stock’s strong year-to-date run.
- Positive Sentiment: Lam Research said it is adding AI and sensing capabilities to its chipmaking tools and expanding U.S. operations in Arizona and California, a sign it is positioning itself for longer-term growth in advanced semiconductor manufacturing. Article: Lam Research focused on adding AI to chipmaking tools as it eyes US expansion, CEO says
- Positive Sentiment: The company launched a new research lab in Salzburg focused on panel-level chip packaging, aiming to improve chip density and reduce packaging costs as AI demand rises.
Insider Buying and Selling
In other Lam Research news, insider Ava Harter sold 6,010 shares of Lam Research stock in a transaction on Monday, April 27th. The shares were sold at an average price of $258.66, for a total transaction of $1,554,546.60. Following the completion of the transaction, the insider directly owned 53,205 shares of the company’s stock, valued at $13,762,005.30. The trade was a 10.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Douglas R. Bettinger sold 50,057 shares of Lam Research stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $224.03, for a total transaction of $11,214,269.71. Following the transaction, the chief financial officer directly owned 1,081,705 shares of the company’s stock, valued at approximately $242,334,371.15. This trade represents a 4.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 120,066 shares of company stock worth $27,953,242. Insiders own 0.31% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have commented on LRCX. Citigroup restated a “buy” rating and set a $315.00 target price (up from $300.00) on shares of Lam Research in a report on Thursday, April 23rd. Wells Fargo & Company raised their target price on shares of Lam Research from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Seaport Research Partners started coverage on shares of Lam Research in a report on Monday, May 4th. They issued a “buy” rating and a $300.00 price objective on the stock. Susquehanna lifted their price objective on shares of Lam Research from $350.00 to $385.00 and gave the company a “positive” rating in a report on Thursday, April 23rd. Finally, Erste Group Bank downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Twenty-seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $293.46.
Check Out Our Latest Stock Report on Lam Research
Lam Research Profile
Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.
Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.
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