Quantinno Capital Management LP raised its stake in Lam Research Corporation (NASDAQ:LRCX – Free Report) by 11.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,063,637 shares of the semiconductor company’s stock after acquiring an additional 106,077 shares during the quarter. Lam Research makes up 0.4% of Quantinno Capital Management LP’s holdings, making the stock its 23rd biggest position. Quantinno Capital Management LP owned approximately 0.09% of Lam Research worth $227,257,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of LRCX. Fideuram Asset Management Ireland dac purchased a new position in shares of Lam Research during the 4th quarter valued at $10,035,000. Generali Investments Management Co LLC lifted its holdings in Lam Research by 62.0% during the fourth quarter. Generali Investments Management Co LLC now owns 36,274 shares of the semiconductor company’s stock valued at $6,209,000 after purchasing an additional 13,878 shares during the last quarter. Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in Lam Research during the first quarter valued at about $59,973,000. Krilogy Financial LLC boosted its position in Lam Research by 19.5% during the first quarter. Krilogy Financial LLC now owns 28,111 shares of the semiconductor company’s stock worth $6,006,000 after purchasing an additional 4,584 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in Lam Research during the first quarter worth about $26,489,000. 84.61% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
LRCX has been the topic of several research reports. Raymond James Financial set a $425.00 price target on shares of Lam Research in a research report on Wednesday, June 10th. Jefferies Financial Group raised their price objective on shares of Lam Research from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Morgan Stanley lifted their price objective on shares of Lam Research from $331.00 to $404.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Royal Bank Of Canada boosted their target price on shares of Lam Research from $290.00 to $310.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Finally, Zacks Research upgraded Lam Research from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $363.37.
Lam Research Stock Down 4.5%
LRCX opened at $291.61 on Tuesday. The company has a fifty day moving average price of $342.02 and a 200-day moving average price of $274.96. The firm has a market capitalization of $364.68 billion, a P/E ratio of 55.02, a price-to-earnings-growth ratio of 1.81 and a beta of 1.80. 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 one year low of $90.93 and a one year high of $438.50.
Lam Research Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Wednesday, June 17th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $1.04 annualized dividend and a yield of 0.4%. Lam Research’s dividend payout ratio (DPR) is currently 19.62%.
Insider Buying and Selling
In other news, SVP Neil J. Fernandes sold 18,170 shares of Lam Research stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $255.14, for a total transaction of $4,635,893.80. Following the completion of the sale, the senior vice president owned 66,129 shares in the company, valued at approximately $16,872,153.06. This trade represents a 21.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Brandt sold 54,500 shares of the business’s 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 transaction, the director directly owned 199,205 shares of the company’s stock, valued at $69,881,114. The trade was a 21.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 98,611 shares of company stock worth $32,250,190 over the last ninety days. 0.31% of the stock is owned by corporate insiders.
Lam Research Company 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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