Resonant Capital Advisors LLC Takes Position in Lam Research Co. (NASDAQ:LRCX)
Resonant Capital Advisors LLC acquired a new position in Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 1,084 shares of the semiconductor company’s stock, valued at approximately $317,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Man Group plc lifted its position in shares of Lam Research by 17.4% during the fourth quarter. Man Group plc now owns 677,256 shares of the semiconductor company’s stock worth $198,031,000 after purchasing an additional 100,254 shares during the last quarter. Alberta Investment Management Corp bought a new stake in Lam Research during the 4th quarter valued at $12,281,000. Ladenburg Thalmann Financial Services Inc. boosted its position in Lam Research by 7.3% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,315 shares of the semiconductor company’s stock worth $2,347,000 after acquiring an additional 563 shares during the period. Point72 Asset Management L.P. boosted its position in Lam Research by 68.0% during the 4th quarter. Point72 Asset Management L.P. now owns 327,535 shares of the semiconductor company’s stock worth $95,771,000 after acquiring an additional 132,603 shares during the period. Finally, Captrust Financial Advisors boosted its position in Lam Research by 11,400.7% during the 4th quarter. Captrust Financial Advisors now owns 48,763 shares of the semiconductor company’s stock worth $14,582,000 after acquiring an additional 48,339 shares during the period. 86.57% of the stock is currently owned by hedge funds and other institutional investors.
LRCX has been the subject of a number of research analyst reports. Bank of America upped their price target on shares of Lam Research from $350.00 to $380.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. KeyCorp boosted their price target on shares of Lam Research from $313.00 to $385.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Nomura reduced their price target on shares of Lam Research from to in a research report on Wednesday, March 18th. Citigroup raised their price objective on shares of Lam Research from $360.00 to $363.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Susquehanna Bancshares reiterated a “buy” rating and set a $400.00 price objective on shares of Lam Research in a research report on Wednesday, March 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $302.48.
Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.85 by $0.16. The firm had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Lam Research had a net margin of 21.67% and a return on equity of 45.72%. Lam Research’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.87 EPS. On average, equities analysts forecast that Lam Research Co. will post 16.35 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Tuesday, March 24th. Lam Research’s payout ratio is presently 31.62%.
In other news, Director Mansy Youssef A. El sold 1,010 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $325.11, for a total value of $328,361.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy Archer sold 10,000 shares of Lam Research stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $308.00, for a total transaction of $3,080,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,386 shares of company stock valued at $7,700,076. Corporate insiders own 0.43% of the company’s stock.
Lam Research Profile
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.
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