Concentric Capital Strategies LP acquired a new stake in shares of Lam Research Corporation (NASDAQ:LRCX – Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 101,760 shares of the semiconductor company’s stock, valued at approximately $17,419,000. Lam Research accounts for about 0.8% of Concentric Capital Strategies LP’s portfolio, making the stock its 18th largest holding.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. PMV Capital Advisers LLC bought a new stake in Lam Research during the fourth quarter valued at about $25,000. Stance Capital LLC bought a new position in shares of Lam Research in the third quarter worth about $26,000. Triumph Capital Management purchased a new position in shares of Lam Research during the 3rd quarter valued at about $27,000. Core Wealth Advisors LLC bought a new position in shares of Lam Research during the 4th quarter valued at approximately $29,000. Finally, Strategic Wealth Investment Group LLC purchased a new stake in Lam Research in the 2nd quarter worth approximately $29,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.
Lam Research Trading Up 1.3%
Shares of LRCX opened at $374.18 on Thursday. The firm has a market cap of $467.94 billion, a P/E ratio of 70.60, a price-to-earnings-growth ratio of 3.04 and a beta of 1.85. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.54 and a quick ratio of 1.77. Lam Research Corporation has a 1 year low of $87.75 and a 1 year high of $397.63. The company has a 50 day simple moving average of $295.60 and a two-hundred day simple moving average of $238.88.
Lam Research Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Wednesday, June 17th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Wednesday, June 17th. Lam Research’s dividend payout ratio is 19.62%.
Analysts Set New Price Targets
A number of equities research analysts have commented on LRCX shares. Needham & Company LLC restated a “buy” rating and set a $300.00 target price on shares of Lam Research in a research note on Thursday, April 23rd. Weiss Ratings lowered shares of Lam Research from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 14th. Stifel Nicolaus raised their price objective on shares of Lam Research from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. UBS Group restated a “buy” rating and set a $375.00 target price (up from $310.00) on shares of Lam Research in a research note on Tuesday, June 9th. Finally, Susquehanna upped their target price on shares of Lam Research from $350.00 to $385.00 and gave the stock a “positive” rating in a report on Thursday, April 23rd. Twenty-eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $333.62.
View Our Latest Stock Report on Lam Research
Insider Buying and Selling at Lam Research
In other news, insider Ava Harter sold 6,010 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was 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 owned 53,205 shares in the company, valued at $13,762,005.30. This trade represents a 10.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eric Brandt sold 54,500 shares of Lam Research stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $350.80, for a total value of $19,118,600.00. Following the completion of the sale, the director directly owned 199,205 shares in the company, valued at $69,881,114. This trade represents a 21.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 86,339 shares of company stock valued at $27,680,267 in the last 90 days. Insiders own 0.31% of the company’s stock.
Trending Headlines about Lam Research
Here are the key news stories impacting Lam Research this week:
- Positive Sentiment: Rothschild & Co Redburn raised its price target on Lam Research to $420 from $305 and reiterated a buy rating, signaling confidence in further upside. MarketScreener article on Rothschild & Co Redburn target raise
- Positive Sentiment: Citi also boosted its Lam Research price target to $450 from $315, citing booming wafer fab equipment demand and stronger forecast assumptions for the semiconductor capital spending cycle. Yahoo/Investing.com article on Citi target hike
- Positive Sentiment: Analyst and market commentary continue to point to strong memory-equipment demand and AI-driven packaging growth as key growth catalysts for Lam Research. Motley Fool article on memory stock and Lam Research growth
- Positive Sentiment: Multiple articles describe Lam Research as a profitable, high-quality growth stock, which supports investor enthusiasm around its earnings power and premium valuation. Insider Monkey article on most profitable American stocks
- Neutral Sentiment: There was also insider selling by a director under a pre-arranged 10b5-1 plan, which is notable but not necessarily a negative signal. SEC filing for director share sale
- Neutral Sentiment: The broader chip-equipment group is rallying with Intel’s manufacturing update lifting sentiment across semiconductor stocks, adding sector tailwinds for LRCX. Yahoo/Investing.com article on chip stocks rebound
About Lam Research
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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