Lam Research Co. (LRCX) Shares Bought by Legacy Capital Partners Inc.
Legacy Capital Partners Inc. boosted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 15.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,225 shares of the semiconductor company’s stock after acquiring an additional 436 shares during the quarter. Legacy Capital Partners Inc.’s holdings in Lam Research were worth $594,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Signature Estate & Investment Advisors LLC increased its position in Lam Research by 15.2% during the third quarter. Signature Estate & Investment Advisors LLC now owns 3,986 shares of the semiconductor company’s stock worth $738,000 after buying an additional 527 shares during the period. Putnam FL Investment Management Co. acquired a new position in Lam Research during the third quarter worth approximately $15,390,000. Epoch Investment Partners Inc. increased its position in Lam Research by 0.9% during the third quarter. Epoch Investment Partners Inc. now owns 64,708 shares of the semiconductor company’s stock worth $11,974,000 after buying an additional 600 shares during the period. Financial Enhancement Group LLC acquired a new position in Lam Research during the third quarter worth approximately $295,000. Finally, Oakmont Corp increased its position in Lam Research by 3.8% during the third quarter. Oakmont Corp now owns 249,369 shares of the semiconductor company’s stock worth $46,143,000 after buying an additional 9,209 shares during the period. 92.92% of the stock is currently owned by institutional investors.
Shares of Lam Research Co. (NASDAQ:LRCX) opened at $165.87 on Friday. The company has a quick ratio of 2.09, a current ratio of 2.47 and a debt-to-equity ratio of 0.29. Lam Research Co. has a 12 month low of $113.20 and a 12 month high of $219.70. The firm has a market capitalization of $26,860.00, a P/E ratio of 18.27, a P/E/G ratio of 0.67 and a beta of 1.47.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 7th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.21%. Lam Research’s dividend payout ratio (DPR) is presently 22.03%.
Lam Research announced that its board has approved a share buyback program on Tuesday, November 14th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
Several brokerages have weighed in on LRCX. KeyCorp reiterated a “buy” rating and issued a $225.00 target price on shares of Lam Research in a research note on Sunday, November 19th. Vetr downgraded Lam Research from a “buy” rating to a “hold” rating and set a $218.49 target price on the stock. in a research note on Tuesday, January 23rd. B. Riley reiterated a “buy” rating and issued a $250.00 target price on shares of Lam Research in a research note on Tuesday, November 14th. ICAP reiterated a “buy” rating and issued a $240.00 target price on shares of Lam Research in a research note on Thursday, January 25th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $270.00 target price (up from $235.00) on shares of Lam Research in a research note on Thursday, January 25th. Two investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Lam Research currently has a consensus rating of “Buy” and an average price target of $232.41.
In related news, insider Martin B. Anstice sold 21,955 shares of Lam Research stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $211.16, for a total value of $4,636,017.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Seshasayee Varadarajan sold 25,453 shares of Lam Research stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $215.00, for a total value of $5,472,395.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,722 shares of company stock worth $12,088,028. Company insiders own 0.41% of the company’s stock.
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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