Cetera Investment Advisers boosted its position in Lam Research Co. (NASDAQ:LRCX) by 21.4% during the fourth quarter, Holdings Channel reports. The fund owned 4,063 shares of the semiconductor company’s stock after acquiring an additional 717 shares during the period. Cetera Investment Advisers’ holdings in Lam Research were worth $749,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. boosted its position in Lam Research by 45.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 7,480 shares of the semiconductor company’s stock valued at $1,059,000 after buying an additional 2,345 shares during the period. Koch Industries Inc. purchased a new stake in Lam Research during the second quarter valued at about $309,000. Dynamic Technology Lab Private Ltd purchased a new stake in Lam Research during the second quarter valued at about $302,000. Toronto Dominion Bank boosted its position in Lam Research by 24.4% during the second quarter. Toronto Dominion Bank now owns 54,665 shares of the semiconductor company’s stock valued at $7,729,000 after buying an additional 10,720 shares during the period. Finally, BRILLIANCE ASSET MANAGEMENT Ltd boosted its position in Lam Research by 58.1% during the second quarter. BRILLIANCE ASSET MANAGEMENT Ltd now owns 133,491 shares of the semiconductor company’s stock valued at $18,880,000 after buying an additional 49,060 shares during the period. 92.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of Lam Research Co. (LRCX) opened at $183.01 on Thursday. The company has a quick ratio of 2.09, a current ratio of 2.47 and a debt-to-equity ratio of 0.29. Lam Research Co. has a 1-year low of $113.20 and a 1-year high of $219.70. The company has a market cap of $28,119.08, a PE ratio of 20.18, a price-to-earnings-growth ratio of 0.69 and a beta of 1.47.
Lam Research announced that its Board of Directors has approved a stock buyback program on Tuesday, November 14th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 7th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, March 6th. This represents a $2.00 annualized dividend and a yield of 1.09%. Lam Research’s dividend payout ratio (DPR) is presently 22.05%.
In other Lam Research news, VP Patrick J. Lord sold 264 shares of the firm’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $216.08, for a total value of $57,045.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Martin B. Anstice sold 21,955 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $211.16, for a total transaction of $4,636,017.80. The disclosure for this sale can be found here. Insiders sold 47,722 shares of company stock valued at $10,176,158 over the last 90 days. 0.41% of the stock is currently owned by company insiders.
Several analysts have issued reports on LRCX shares. Deutsche Bank upped their price target on shares of Lam Research to $230.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. Zacks Investment Research lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. KeyCorp restated a “buy” rating and set a $225.00 price target on shares of Lam Research in a research report on Sunday, November 19th. UBS Group upgraded shares of Lam Research from a “neutral” rating to a “positive” rating in a research report on Tuesday, January 16th. Finally, Stifel Nicolaus upped their price target on shares of Lam Research from $235.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Lam Research currently has an average rating of “Buy” and an average target price of $232.41.
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Lam Research Profile
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.
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