Scout Investments Inc. boosted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 131.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,427 shares of the semiconductor company’s stock after acquiring an additional 47,902 shares during the period. Scout Investments Inc. owned 0.05% of Lam Research worth $17,152,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of the stock. Lourd Capital LLC acquired a new stake in shares of Lam Research in the fourth quarter worth $360,000. Delek Group Ltd. acquired a new stake in shares of Lam Research in the fourth quarter worth $957,000. Assetmark Inc. grew its position in Lam Research by 6.5% during the fourth quarter. Assetmark Inc. now owns 6,627 shares of the semiconductor company’s stock valued at $1,220,000 after buying an additional 405 shares during the period. Bailard Inc. acquired a new stake in Lam Research during the fourth quarter valued at $4,379,000. Finally, Randolph Co Inc acquired a new stake in Lam Research during the fourth quarter valued at $9,106,000. 88.18% of the stock is owned by institutional investors.
Shares of NASDAQ:LRCX traded down $3.42 during trading on Thursday, hitting $181.17. 4,381,122 shares of the company were exchanged, compared to its average volume of 3,722,684. The company has a market capitalization of $30.14 billion, a PE ratio of 18.15, a P/E/G ratio of 0.59 and a beta of 1.43. 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 Co. has a 12-month low of $139.24 and a 12-month high of $234.88.
Lam Research declared that its board has authorized a share buyback program on Tuesday, March 6th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 27th. Investors of record on Wednesday, June 6th will be given a $1.10 dividend. This is an increase from Lam Research’s previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, June 5th. This represents a $4.40 annualized dividend and a yield of 2.43%. Lam Research’s dividend payout ratio is 44.09%.
In other Lam Research news, COO Timothy Archer sold 16,574 shares of the business’s stock in a transaction on Wednesday, March 21st. The shares were sold at an average price of $221.41, for a total value of $3,669,649.34. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Patrick J. Lord sold 6,208 shares of the business’s stock in a transaction on Friday, April 20th. The shares were sold at an average price of $193.65, for a total transaction of $1,202,179.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,104 shares of company stock valued at $16,755,246. 0.41% of the stock is owned by insiders.
LRCX has been the topic of several analyst reports. Deutsche Bank raised their price target on shares of Lam Research to $260.00 and gave the company a “buy” rating in a research report on Wednesday, April 18th. KeyCorp restated an “overweight” rating and set a $283.00 price target (up previously from $276.00) on shares of Lam Research in a research report on Wednesday, April 18th. UBS Group began coverage on shares of Lam Research in a report on Wednesday, April 4th. They set a “neutral” rating and a $220.00 price objective on the stock. BidaskClub raised shares of Lam Research from a “hold” rating to a “buy” rating in a report on Saturday, March 3rd. Finally, Vetr downgraded shares of Lam Research from a “strong-buy” rating to a “buy” rating and set a $240.39 price objective on the stock. in a report on Monday, March 12th. Five investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $254.66.
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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