Hennessy Advisors Inc. cut its position in Lam Research Co. (NASDAQ:LRCX) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,441 shares of the semiconductor company’s stock after selling 1,123 shares during the period. Hennessy Advisors Inc.’s holdings in Lam Research were worth $3,930,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of LRCX. Nuveen Asset Management LLC grew its stake in shares of Lam Research by 655.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,502,249 shares of the semiconductor company’s stock valued at $470,022,000 after buying an additional 2,171,131 shares during the period. Boston Partners acquired a new position in Lam Research during the 3rd quarter valued at about $194,039,000. Man Group plc boosted its stake in Lam Research by 355.3% during the 3rd quarter. Man Group plc now owns 577,002 shares of the semiconductor company’s stock valued at $133,351,000 after purchasing an additional 450,280 shares during the last quarter. USS Investment Management Ltd acquired a new position in Lam Research during the 3rd quarter valued at about $100,687,000. Finally, AMF Pensionsforsakring AB boosted its stake in Lam Research by 401.9% during the 3rd quarter. AMF Pensionsforsakring AB now owns 442,209 shares of the semiconductor company’s stock valued at $102,199,000 after purchasing an additional 354,103 shares during the last quarter. Institutional investors own 86.63% of the company’s stock.
Lam Research stock opened at $300.76 on Wednesday. Lam Research Co. has a 52 week low of $136.65 and a 52 week high of $304.37. The company’s 50 day moving average price is $284.92 and its two-hundred day moving average price is $240.98. The company has a quick ratio of 2.99, a current ratio of 3.59 and a debt-to-equity ratio of 0.76. The stock has a market cap of $43.13 billion, a P/E ratio of 20.67, a P/E/G ratio of 1.43 and a beta of 1.64.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $4.60 annualized dividend and a dividend yield of 1.53%. Lam Research’s dividend payout ratio is currently 31.62%.
A number of research firms have issued reports on LRCX. Credit Suisse Group reiterated an “outperform” rating and set a $300.00 price target (up previously from $278.00) on shares of Lam Research in a research note on Thursday, October 24th. Needham & Company LLC lifted their price target on Lam Research from $250.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Cowen lifted their price target on Lam Research from $235.00 to $290.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Mizuho lifted their price target on Lam Research from $194.00 to $225.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. They noted that the move was a valuation call. Finally, DA Davidson lifted their price target on Lam Research to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $264.79.
In related news, CEO Timothy Archer sold 13,026 shares of Lam Research stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $295.78, for a total value of $3,852,830.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Douglas R. Bettinger sold 18,693 shares of Lam Research stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $279.03, for a total transaction of $5,215,907.79. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,576 shares of company stock worth $20,803,977. Insiders own 0.43% of the company’s stock.
Lam Research Company 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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