Fort Point Capital Partners LLC purchased a new stake in Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,400 shares of the semiconductor company’s stock, valued at approximately $443,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Janus Henderson Group PLC increased its holdings in Lam Research by 5.7% during the 3rd quarter. Janus Henderson Group PLC now owns 5,014,215 shares of the semiconductor company’s stock worth $927,828,000 after acquiring an additional 271,546 shares during the period. Geode Capital Management LLC grew its stake in Lam Research by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 1,917,899 shares of the semiconductor company’s stock worth $352,365,000 after buying an additional 74,507 shares in the last quarter. Nordea Investment Management AB grew its stake in Lam Research by 66.0% in the 3rd quarter. Nordea Investment Management AB now owns 1,575,269 shares of the semiconductor company’s stock worth $291,488,000 after buying an additional 626,034 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in Lam Research by 16.3% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,568,123 shares of the semiconductor company’s stock worth $288,644,000 after buying an additional 219,479 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. grew its stake in Lam Research by 16.4% in the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 1,055,653 shares of the semiconductor company’s stock worth $194,314,000 after buying an additional 148,375 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors.
Lam Research stock opened at $221.92 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.47 and a quick ratio of 2.09. Lam Research Co. has a 1-year low of $123.96 and a 1-year high of $234.88. The company has a market cap of $36,162.42, a price-to-earnings ratio of 24.47, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43.
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 of this dividend is Tuesday, March 6th. This represents a $2.00 annualized dividend and a yield of 0.90%. Lam Research’s dividend payout ratio (DPR) is presently 22.05%.
Lam Research declared that its Board of Directors has initiated a stock buyback program on Tuesday, March 6th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the semiconductor company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.
A number of equities analysts have commented on LRCX shares. KeyCorp reissued a “buy” rating and issued a $225.00 price target on shares of Lam Research in a research note on Sunday, November 19th. BidaskClub cut shares of Lam Research from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. Instinet raised shares of Lam Research from a “neutral” rating to a “buy” rating in a research note on Thursday, December 7th. Nomura raised shares of Lam Research from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $103.01 to $215.00 in a research note on Thursday, December 7th. Finally, Vetr cut shares of Lam Research from a “strong-buy” rating to a “buy” rating and set a $215.24 price objective for the company. in a research note on Wednesday, January 10th. Twenty-five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $242.23.
In related news, SVP Sarah A. O’dowd sold 1,835 shares of the stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $212.64, for a total value of $390,194.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard A. Gottscho sold 16,866 shares of the stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $210.02, for a total transaction of $3,542,197.32. The disclosure for this sale can be found here. Insiders sold a total of 50,619 shares of company stock valued at $10,790,107 over the last 90 days. Company insiders own 0.41% of the company’s stock.
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Lam Research Company 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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