Great West Life Assurance Co. Can increased its position in Lam Research (NASDAQ:LRCX) by 3.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 328,913 shares of the semiconductor company’s stock after buying an additional 11,685 shares during the quarter. Great West Life Assurance Co. Can owned about 0.20% of Lam Research worth $66,833,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Swedbank purchased a new stake in shares of Lam Research during the first quarter valued at $222,018,000. Artisan Partners Limited Partnership purchased a new stake in shares of Lam Research during the first quarter valued at $144,678,000. Boussard & Gavaudan Investment Management LLP lifted its holdings in shares of Lam Research by 731.6% during the first quarter. Boussard & Gavaudan Investment Management LLP now owns 382,594 shares of the semiconductor company’s stock valued at $83,145,000 after purchasing an additional 336,588 shares during the last quarter. KBC Group NV lifted its holdings in shares of Lam Research by 732.8% during the fourth quarter. KBC Group NV now owns 316,776 shares of the semiconductor company’s stock valued at $58,309,000 after purchasing an additional 278,737 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Lam Research by 86.3% during the fourth quarter. Alliancebernstein L.P. now owns 561,218 shares of the semiconductor company’s stock valued at $103,303,000 after purchasing an additional 259,974 shares during the last quarter. Institutional investors and hedge funds own 88.24% of the company’s stock.
Shares of Lam Research opened at $202.03 on Monday, Marketbeat.com reports. The company has a current ratio of 2.64, a quick ratio of 2.21 and a debt-to-equity ratio of 0.26. Lam Research has a fifty-two week low of $139.24 and a fifty-two week high of $234.88. The stock has a market capitalization of $33.14 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 0.65 and a beta of 1.41.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 27th. Shareholders of record on Wednesday, June 6th will be given a $1.10 dividend. This is a positive change from Lam Research’s previous quarterly dividend of $0.50. This represents a $4.40 annualized dividend and a yield of 2.18%. The ex-dividend date is Tuesday, June 5th. Lam Research’s dividend payout ratio is presently 20.04%.
Lam Research declared that its Board of Directors has approved a share buyback plan on Tuesday, March 6th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
Several brokerages have recently commented on LRCX. ValuEngine raised Lam Research from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Citigroup raised Lam Research from a “neutral” rating to a “buy” rating and reduced their target price for the company from $234.88 to $200.00 in a report on Monday, May 14th. Credit Suisse Group increased their price objective on Lam Research from $275.00 to $278.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 18th. Argus reissued a “buy” rating and issued a $203.77 price objective (down from $235.00) on shares of Lam Research in a research note on Thursday, April 19th. Finally, B. Riley increased their price objective on Lam Research from $270.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, April 18th. Three investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $257.06.
In other news, insider Timothy Archer sold 5,000 shares of the stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $190.00, for a total transaction of $950,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Martin B. Anstice sold 11,200 shares of the stock in a transaction dated Wednesday, March 21st. The shares were sold at an average price of $225.00, for a total value of $2,520,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,270 shares of company stock worth $22,072,958. Insiders own 0.41% of the company’s stock.
Lam Research Company Profile
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers thin film deposition products, including SABRE electrochemical deposition products for copper damascene manufacturing; ALTUS systems to deposit conformal atomic layer films for tungsten metallization applications; VECTOR plasma-enhanced chemical vapor deposition (CVD) and atomic layer deposition systems to deposit oxides, nitrides, and carbides for hardmasks, multiple patterning films, anti-reflective layers, multi-layer stack films, and diffusion barriers; and Striker atomic layer deposition systems that deliver conformal dielectric films for spacer-based patterning and liner applications in various advanced memory and logic structures.
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