Caxton Associates LP grew its stake in Lam Research Co. (NASDAQ:LRCX) by 71.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,465 shares of the semiconductor company’s stock after buying an additional 1,865 shares during the quarter. Caxton Associates LP’s holdings in Lam Research were worth $822,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Fred Alger Management Inc. boosted its stake in shares of Lam Research by 64.9% in the fourth quarter. Fred Alger Management Inc. now owns 85,670 shares of the semiconductor company’s stock worth $15,769,000 after acquiring an additional 33,705 shares during the period. Folger Hill Asset Management LP bought a new position in shares of Lam Research in the fourth quarter worth about $2,982,000. Nomura Asset Management Co. Ltd. boosted its stake in shares of Lam Research by 2.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 222,206 shares of the semiconductor company’s stock worth $40,901,000 after acquiring an additional 4,892 shares during the period. AMP Capital Investors Ltd boosted its stake in shares of Lam Research by 6.5% in the fourth quarter. AMP Capital Investors Ltd now owns 182,410 shares of the semiconductor company’s stock worth $33,574,000 after acquiring an additional 11,193 shares during the period. Finally, BlueCrest Capital Management Ltd bought a new position in shares of Lam Research in the fourth quarter worth about $12,566,000. Institutional investors and hedge funds own 89.05% of the company’s stock.
In other Lam Research news, SVP Sarah A. O’dowd sold 1,835 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $212.64, for a total transaction of $390,194.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Richard A. Gottscho sold 16,866 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $210.02, for a total value of $3,542,197.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,154 shares of company stock worth $9,404,787. Company insiders own 0.41% of the company’s stock.
Shares of Lam Research Co. (LRCX) opened at $224.95 on Monday. Lam Research Co. has a 52-week low of $118.37 and a 52-week high of $226.08. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.09 and a current ratio of 2.47. The stock has a market capitalization of $36,660.00, a P/E ratio of 76.77, a price-to-earnings-growth ratio of 0.90 and a beta of 1.43.
Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.68 by $0.66. Lam Research had a negative return on equity of 59.88% and a negative net margin of 38.80%. The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the prior year, the business posted $2.24 earnings per share. The company’s quarterly revenue was up 37.1% compared to the same quarter last year. equities research analysts predict that Lam Research Co. will post 16.74 EPS for the current year.
Lam Research announced that its Board of Directors has initiated a share repurchase plan on Tuesday, November 14th 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. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.
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 given a dividend of $0.50 per share. The ex-dividend date is Tuesday, March 6th. This represents a $2.00 dividend on an annualized basis and a yield of 0.89%. Lam Research’s dividend payout ratio (DPR) is presently 68.26%.
LRCX has been the subject of a number of recent analyst reports. Deutsche Bank upped their price objective on Lam Research to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Zacks Investment Research lowered Lam Research from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. KeyCorp reaffirmed a “buy” rating and issued a $225.00 price objective on shares of Lam Research in a research note on Sunday, November 19th. JPMorgan Chase & Co. upped their price objective on Lam Research from $230.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Finally, Stifel Nicolaus increased their price target on Lam Research from $235.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Twenty-six analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average price target of $239.28.
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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