Signature Resources Capital Management LLC acquired a new stake in Lam Research Co. (NASDAQ:LRCX – Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,200 shares of the semiconductor company’s stock, valued at approximately $1,723,000. Lam Research makes up approximately 1.6% of Signature Resources Capital Management LLC’s portfolio, making the stock its 11th largest holding.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Orion Capital Management LLC bought a new position in shares of Lam Research during the 3rd quarter worth approximately $25,000. BluePath Capital Management LLC bought a new stake in shares of Lam Research during the 3rd quarter worth about $28,000. OFI Invest Asset Management bought a new position in Lam Research in the 3rd quarter valued at about $30,000. Asset Dedication LLC lifted its position in Lam Research by 56.7% during the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 17 shares during the last quarter. Finally, Valued Wealth Advisors LLC acquired a new position in shares of Lam Research in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 84.61% of the company’s stock.
Lam Research Trading Up 2.8 %
Shares of NASDAQ:LRCX traded up $24.85 during midday trading on Friday, reaching $908.53. The company’s stock had a trading volume of 875,385 shares, compared to its average volume of 1,105,338. Lam Research Co. has a fifty-two week low of $507.19 and a fifty-two week high of $1,007.39. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.84 and a current ratio of 2.82. The firm has a 50 day moving average price of $941.31 and a two-hundred day moving average price of $820.25. The firm has a market capitalization of $119.11 billion, a price-to-earnings ratio of 33.41, a PEG ratio of 2.82 and a beta of 1.51.
Lam Research (NASDAQ:LRCX – Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.26 by $0.53. The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The company’s revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.99 earnings per share. As a group, analysts forecast that Lam Research Co. will post 29.62 earnings per share for the current year.
Lam Research Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Tuesday, March 12th. Lam Research’s payout ratio is 29.42%.
Insider Buying and Selling at Lam Research
In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the sale, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CAO Christina Corrreia sold 647 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the sale, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,089 shares of company stock valued at $6,614,781. Corporate insiders own 0.32% of the company’s stock.
Wall Street Analyst Weigh In
LRCX has been the topic of a number of research reports. TD Cowen upped their price objective on Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, April 25th. The Goldman Sachs Group boosted their price objective on shares of Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Stifel Nicolaus lifted their price target on shares of Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. UBS Group lifted their price objective on Lam Research from $1,130.00 to $1,150.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Finally, StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a report on Saturday. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $950.85.
About Lam Research
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.