Bard Financial Services Inc. bought a new position in Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,375 shares of the semiconductor company’s stock, valued at approximately $1,594,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in LRCX. Engineers Gate Manager LP acquired a new position in shares of Lam Research during the 3rd quarter worth about $1,194,000. Lombard Odier Asset Management Switzerland SA acquired a new stake in Lam Research in the 3rd quarter valued at about $432,000. Lombard Odier Asset Management Europe Ltd acquired a new stake in Lam Research in the 3rd quarter valued at about $430,000. Point72 Asset Management L.P. acquired a new stake in Lam Research in the 3rd quarter valued at about $4,335,000. Finally, Cubist Systematic Strategies LLC lifted its stake in Lam Research by 82.7% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 13,419 shares of the semiconductor company’s stock valued at $4,452,000 after purchasing an additional 6,074 shares during the last quarter. 84.03% of the stock is owned by hedge funds and other institutional investors.
Shares of Lam Research stock opened at $658.78 on Thursday. Lam Research Co. has a fifty-two week low of $229.69 and a fifty-two week high of $667.42. The company has a debt-to-equity ratio of 0.92, a current ratio of 3.31 and a quick ratio of 2.68. The firm has a market capitalization of $94.14 billion, a P/E ratio of 37.37, a P/E/G ratio of 1.42 and a beta of 1.33. The company’s 50 day moving average price is $569.33 and its two-hundred day moving average price is $477.93.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 7th. Stockholders of record on Wednesday, March 17th were issued a dividend of $1.30 per share. The ex-dividend date was Tuesday, March 16th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.79%. Lam Research’s dividend payout ratio (DPR) is presently 32.60%.
LRCX has been the subject of several recent analyst reports. Stifel Nicolaus raised their target price on shares of Lam Research from $550.00 to $620.00 in a research note on Thursday, January 28th. Morgan Stanley raised their target price on shares of Lam Research from $553.00 to $568.00 and gave the company an “overweight” rating in a research note on Thursday, January 28th. Citigroup increased their price target on shares of Lam Research from $420.00 to $660.00 and gave the company a “buy” rating in a report on Monday, January 25th. Zacks Investment Research raised shares of Lam Research from a “hold” rating to a “buy” rating and set a $508.00 price target on the stock in a report on Tuesday, February 2nd. Finally, KeyCorp increased their price target on shares of Lam Research from $519.00 to $583.00 and gave the company an “overweight” rating in a report on Thursday, January 28th. Four analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Lam Research currently has an average rating of “Buy” and an average target price of $502.50.
In other Lam Research news, CEO Timothy Archer sold 4,464 shares of Lam Research stock in a transaction on Monday, February 8th. The shares were sold at an average price of $515.00, for a total value of $2,298,960.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Patrick J. Lord sold 4,166 shares of the business’s stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $576.56, for a total transaction of $2,401,948.96. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.
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 products for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.
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