Squar Milner Financial Services LLC acquired a new position in Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 1,039 shares of the semiconductor company’s stock, valued at approximately $204,000.
Several other institutional investors have also added to or reduced their stakes in LRCX. Raymond James Financial Services Advisors Inc. boosted its position in shares of Lam Research by 45.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 7,480 shares of the semiconductor company’s stock worth $1,059,000 after buying an additional 2,345 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Lam Research in the 2nd quarter worth about $302,000. BRILLIANCE ASSET MANAGEMENT Ltd boosted its position in shares of Lam Research by 58.1% in the 2nd quarter. BRILLIANCE ASSET MANAGEMENT Ltd now owns 133,491 shares of the semiconductor company’s stock worth $18,880,000 after buying an additional 49,060 shares in the last quarter. Intl Fcstone Inc. purchased a new stake in shares of Lam Research in the 2nd quarter worth about $242,000. Finally, W. E. Donoghue & Co. LLC purchased a new stake in shares of Lam Research in the 2nd quarter worth about $2,095,000. Institutional investors and hedge funds own 92.49% of the company’s stock.
Lam Research Co. (LRCX) opened at $187.91 on Friday. The firm has a market cap of $30,980.00, a PE ratio of 64.13, a PEG ratio of 0.75 and a beta of 1.47. Lam Research Co. has a 1-year low of $113.20 and a 1-year high of $219.70. The company has a current ratio of 2.47, a quick ratio of 2.09 and a debt-to-equity ratio of 0.29.
Lam Research announced that its Board of Directors has initiated a stock buyback plan on Tuesday, November 14th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Wednesday, March 7th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $2.00 annualized dividend and a dividend yield of 1.06%. Lam Research’s payout ratio is currently 68.26%.
In other news, insider Seshasayee Varadarajan sold 25,453 shares of the stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $215.00, for a total transaction of $5,472,395.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Patrick J. Lord sold 264 shares of the stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $216.08, for a total transaction of $57,045.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,767 shares of company stock worth $5,540,141. Insiders own 0.41% of the company’s stock.
Several equities research analysts recently commented on LRCX shares. Royal Bank of Canada boosted their price objective on shares of Lam Research from $210.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 15th. B. Riley reiterated a “buy” rating and issued a $250.00 price objective on shares of Lam Research in a research report on Tuesday, November 14th. Deutsche Bank boosted their price objective on shares of Lam Research to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, November 15th. KeyCorp reiterated a “buy” rating and issued a $225.00 price objective on shares of Lam Research in a research report on Sunday, November 19th. Finally, BidaskClub lowered shares of Lam Research from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. Two research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $232.41.
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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