Glassman Wealth Services reduced its position in Lam Research Co. (NASDAQ:LRCX) by 43.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 114 shares of the semiconductor company’s stock after selling 89 shares during the quarter. Glassman Wealth Services’ holdings in Lam Research were worth $68,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Marshall Financial Group LLC acquired a new stake in shares of Lam Research in the fourth quarter valued at approximately $1,507,000. Conning Inc. raised its stake in shares of Lam Research by 505.0% during the first quarter. Conning Inc. now owns 12,724 shares of the semiconductor company’s stock worth $7,574,000 after purchasing an additional 10,621 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co purchased a new stake in shares of Lam Research during the first quarter worth approximately $5,952,000. Laffer Tengler Investments raised its stake in shares of Lam Research by 21.8% during the fourth quarter. Laffer Tengler Investments now owns 3,827 shares of the semiconductor company’s stock worth $1,807,000 after purchasing an additional 685 shares during the last quarter. Finally, Busey Wealth Management purchased a new stake in shares of Lam Research during the fourth quarter worth approximately $256,000. 84.03% of the stock is owned by institutional investors and hedge funds.
LRCX opened at $592.07 on Tuesday. The company has a quick ratio of 2.68, a current ratio of 3.31 and a debt-to-equity ratio of 0.92. The firm has a market cap of $84.44 billion, a P/E ratio of 33.58, a PEG ratio of 1.42 and a beta of 1.33. Lam Research Co. has a 52 week low of $253.46 and a 52 week high of $669.00. The business’s fifty day simple moving average is $625.94 and its 200 day simple moving average is $534.13.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 7th. Investors of record on Wednesday, June 16th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Tuesday, June 15th. Lam Research’s payout ratio is currently 32.60%.
In other Lam Research news, EVP Patrick J. Lord sold 4,166 shares of the firm’s stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $576.56, for a total value of $2,401,948.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy Archer sold 4,465 shares of the firm’s stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $621.41, for a total value of $2,774,595.65. 0.34% of the stock is owned by company insiders.
Several research firms have recently commented on LRCX. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on Lam Research from $660.00 to $750.00 and gave the stock a “buy” rating in a research note on Monday, April 26th. Cowen upped their price target on Lam Research from $585.00 to $700.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 20th. B. Riley upped their price target on Lam Research from $800.00 to $815.00 and gave the stock a “buy” rating in a research note on Thursday, April 22nd. Citigroup upped their price target on Lam Research from $660.00 to $750.00 in a research note on Monday, April 19th. Finally, Credit Suisse Group increased their price objective on Lam Research from $650.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, April 22nd. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Lam Research presently has a consensus rating of “Buy” and a consensus target price of $663.41.
About Lam Research
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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