Romano Brothers AND Company acquired a new position in Lam Research Co. (NASDAQ:LRCX – Get Rating) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 117 shares of the semiconductor company’s stock, valued at approximately $49,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LRCX. Baird Financial Group Inc. increased its position in Lam Research by 11.5% in the first quarter. Baird Financial Group Inc. now owns 39,514 shares of the semiconductor company’s stock worth $21,243,000 after purchasing an additional 4,090 shares during the period. Zions Bancorporation N.A. grew its position in shares of Lam Research by 39.1% during the 1st quarter. Zions Bancorporation N.A. now owns 281 shares of the semiconductor company’s stock worth $151,000 after buying an additional 79 shares during the period. Brown Brothers Harriman & Co. grew its position in shares of Lam Research by 18.8% during the 1st quarter. Brown Brothers Harriman & Co. now owns 721 shares of the semiconductor company’s stock worth $388,000 after buying an additional 114 shares during the period. Covestor Ltd grew its position in shares of Lam Research by 51.9% during the 1st quarter. Covestor Ltd now owns 322 shares of the semiconductor company’s stock worth $173,000 after buying an additional 110 shares during the period. Finally, Mackenzie Financial Corp grew its position in shares of Lam Research by 11.8% during the 1st quarter. Mackenzie Financial Corp now owns 233,280 shares of the semiconductor company’s stock worth $125,414,000 after buying an additional 24,636 shares during the period. 81.60% of the stock is currently owned by institutional investors and hedge funds.
Lam Research Trading Down 1.3 %
Shares of Lam Research stock opened at $495.77 on Tuesday. Lam Research Co. has a 12-month low of $299.59 and a 12-month high of $574.79. The stock has a market cap of $66.90 billion, a P/E ratio of 13.33, a P/E/G ratio of 8.66 and a beta of 1.48. The company has a quick ratio of 1.95, a current ratio of 3.02 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $496.82 and its 200-day moving average is $446.39.
Lam Research Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 5th. Stockholders of record on Wednesday, March 15th will be paid a dividend of $1.725 per share. This represents a $6.90 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Tuesday, March 14th. Lam Research’s dividend payout ratio is currently 18.55%.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on LRCX shares. B. Riley boosted their target price on Lam Research from $390.00 to $440.00 and gave the stock a “neutral” rating in a research report on Monday, January 23rd. Stifel Nicolaus assumed coverage on Lam Research in a research report on Tuesday, January 17th. They set a “hold” rating and a $495.00 target price for the company. Wells Fargo & Company lifted their price objective on Lam Research from $410.00 to $470.00 and gave the company an “equal weight” rating in a report on Thursday, January 26th. KGI Securities upgraded Lam Research from a “neutral” rating to an “outperform” rating in a report on Wednesday, March 1st. Finally, Barclays lifted their price objective on Lam Research from $300.00 to $475.00 and gave the company an “equal weight” rating in a report on Monday, January 23rd. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus price target of $492.10.
Insider Transactions at Lam Research
In related news, Director Abhijit Y. Talwalkar sold 880 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $429.72, for a total transaction of $378,153.60. Following the transaction, the director now directly owns 14,762 shares of the company’s stock, valued at approximately $6,343,526.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.35% of the company’s stock.
About Lam Research
Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.
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