Systematic Financial Management LP boosted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 333.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 14,223 shares of the semiconductor company’s stock after buying an additional 10,943 shares during the period. Systematic Financial Management LP’s holdings in Lam Research were worth $2,546,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in LRCX. Stephens Inc. AR purchased a new stake in Lam Research in the 1st quarter worth about $455,000. Carillon Tower Advisers Inc. purchased a new stake in shares of Lam Research during the 1st quarter worth about $19,065,000. South Dakota Investment Council raised its stake in shares of Lam Research by 16.9% during the 1st quarter. South Dakota Investment Council now owns 136,730 shares of the semiconductor company’s stock worth $24,476,000 after purchasing an additional 19,730 shares in the last quarter. Foster Victor Wealth Advisors LLC raised its stake in shares of Lam Research by 44.9% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 4,668 shares of the semiconductor company’s stock worth $836,000 after purchasing an additional 1,447 shares in the last quarter. Finally, Groesbeck Investment Management Corp NJ raised its stake in shares of Lam Research by 6.5% during the 1st quarter. Groesbeck Investment Management Corp NJ now owns 17,334 shares of the semiconductor company’s stock worth $3,103,000 after purchasing an additional 1,056 shares in the last quarter. 89.70% of the stock is owned by institutional investors and hedge funds.

Lam Research stock opened at $192.44 on Thursday. The company has a quick ratio of 2.79, a current ratio of 3.37 and a debt-to-equity ratio of 0.71. The company has a market cap of $29.31 billion, a P/E ratio of 10.77, a P/E/G ratio of 1.09 and a beta of 1.57. Lam Research Co. has a one year low of $122.64 and a one year high of $209.50.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, April 24th. The semiconductor company reported $3.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.38 by $0.32. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. Lam Research had a return on equity of 46.66% and a net margin of 25.64%. Lam Research’s revenue was down 15.7% on a year-over-year basis. During the same quarter last year, the company earned $4.79 EPS. On average, equities research analysts forecast that Lam Research Co. will post 14.33 EPS for the current fiscal year.

Lam Research declared that its Board of Directors has initiated a stock buyback plan on Wednesday, January 23rd that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 23% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Wednesday, June 12th will be given a dividend of $1.10 per share. The ex-dividend date is Tuesday, June 11th. This represents a $4.40 annualized dividend and a dividend yield of 2.29%. Lam Research’s dividend payout ratio (DPR) is presently 24.62%.

In related news, insider Richard A. Gottscho sold 7,248 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $209.26, for a total transaction of $1,516,716.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kevin Jennings sold 1,553 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $177.67, for a total value of $275,921.51. The disclosure for this sale can be found here. Insiders have sold a total of 35,125 shares of company stock valued at $6,772,290 in the last 90 days. 0.44% of the stock is owned by corporate insiders.

A number of analysts have issued reports on LRCX shares. Zacks Investment Research lowered Lam Research from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. B. Riley upgraded Lam Research from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $170.00 to $235.00 in a research report on Monday, April 22nd. Needham & Company LLC raised their price objective on Lam Research from $180.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Mizuho reiterated a “hold” rating on shares of Lam Research in a research report on Thursday, April 25th. Finally, Cowen reiterated an “outperform” rating and issued a $235.00 price objective (up previously from $223.00) on shares of Lam Research in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company’s stock. Lam Research presently has an average rating of “Hold” and a consensus price target of $224.78.

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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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Want to see what other hedge funds are holding LRCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lam Research Co. (NASDAQ:LRCX).

Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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