GAMMA Investing LLC Purchases New Position in Lam Research Co. (NASDAQ:LRCX)

GAMMA Investing LLC purchased a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 684 shares of the semiconductor company’s stock, valued at approximately $564,000.

A number of other hedge funds also recently bought and sold shares of LRCX. Valued Wealth Advisors LLC purchased a new position in shares of Lam Research during the 4th quarter worth approximately $30,000. Orion Capital Management LLC purchased a new position in shares of Lam Research during the 3rd quarter worth approximately $25,000. BluePath Capital Management LLC purchased a new position in shares of Lam Research during the 3rd quarter worth approximately $28,000. Asset Dedication LLC boosted its position in shares of Lam Research by 56.7% in the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 17 shares in the last quarter. Finally, Rakuten Securities Inc. bought a new stake in shares of Lam Research in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Lam Research news, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction on Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,029 shares of company stock valued at $6,559,489. 0.32% of the stock is currently owned by company insiders.

Lam Research Trading Up 0.6 %

Shares of NASDAQ:LRCX traded up $4.98 during trading on Wednesday, reaching $892.40. The company’s stock had a trading volume of 679,312 shares, compared to its average volume of 1,051,921. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. Lam Research Co. has a 12 month low of $493.42 and a 12 month high of $1,007.39. The firm’s 50 day simple moving average is $944.54 and its two-hundred day simple moving average is $805.82. The stock has a market capitalization of $116.99 billion, a PE ratio of 34.32, a price-to-earnings-growth ratio of 3.14 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.06 by $0.46. The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm’s quarterly revenue was down 28.8% compared to the same quarter last year. During the same quarter last year, the firm earned $10.71 earnings per share. On average, research analysts predict that Lam Research Co. will post 28.92 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is presently 30.94%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LRCX. Barclays boosted their price target on Lam Research from $750.00 to $825.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 25th. Stifel Nicolaus upped their price objective on Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Citigroup increased their price target on Lam Research from $800.00 to $975.00 and gave the company a “buy” rating in a report on Thursday, January 25th. The Goldman Sachs Group increased their price target on Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Finally, TD Cowen increased their price target on Lam Research from $710.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and an average price target of $931.85.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.