Littlejohn Financial Services Inc. bought a new stake in shares of Lam Research Corporation (NASDAQ:LRCX – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,303 shares of the semiconductor company’s stock, valued at approximately $278,000.
Other institutional investors have also recently added to or reduced their stakes in the company. PMV Capital Advisers LLC acquired a new position in shares of Lam Research during the fourth quarter worth about $25,000. Stance Capital LLC purchased a new stake in shares of Lam Research in the third quarter worth about $26,000. Bayban acquired a new stake in shares of Lam Research in the fourth quarter valued at about $26,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Lam Research in the first quarter valued at about $26,000. Finally, Triumph Capital Management purchased a new stake in shares of Lam Research during the 3rd quarter valued at about $27,000. 84.61% of the stock is owned by hedge funds and other institutional investors.
Lam Research Price Performance
Shares of NASDAQ LRCX opened at $410.91 on Tuesday. Lam Research Corporation has a fifty-two week low of $90.93 and a fifty-two week high of $414.98. The business has a 50 day moving average price of $316.90 and a two-hundred day moving average price of $251.92. The company has a quick ratio of 1.77, a current ratio of 2.54 and a debt-to-equity ratio of 0.35. The firm has a market cap of $513.87 billion, a PE ratio of 77.53, a price-to-earnings-growth ratio of 3.14 and a beta of 1.85.
Lam Research Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Wednesday, June 17th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Wednesday, June 17th. Lam Research’s payout ratio is 19.62%.
Analysts Set New Price Targets
A number of research firms have weighed in on LRCX. UBS Group restated a “buy” rating and issued a $375.00 price target (up from $310.00) on shares of Lam Research in a report on Tuesday, June 9th. Sanford C. Bernstein lifted their price objective on shares of Lam Research from $325.00 to $340.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Seaport Research Partners initiated coverage on shares of Lam Research in a research note on Monday, May 4th. They set a “buy” rating and a $300.00 price objective on the stock. Cantor Fitzgerald set a $500.00 target price on shares of Lam Research and gave the stock an “overweight” rating in a research report on Monday. Finally, Mizuho set a $380.00 target price on shares of Lam Research and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Twenty-eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average price target of $342.49.
View Our Latest Stock Analysis on Lam Research
Insider Activity at Lam Research
In other Lam Research news, SVP Neil J. Fernandes sold 7,659 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $309.60, for a total transaction of $2,371,226.40. Following the completion of the transaction, the senior vice president directly owned 58,470 shares of the company’s stock, valued at $18,102,312. This trade represents a 11.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ava Harter sold 6,010 shares of the business’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 sale, 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 position. The SEC filing for this sale provides additional information. Insiders have sold 86,339 shares of company stock valued at $27,680,267 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.
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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