Ossiam Purchases Shares of 35,329 Lam Research Co. (NASDAQ:LRCX)

Ossiam acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 35,329 shares of the semiconductor company’s stock, valued at approximately $2,552,000.

Other institutional investors have also recently made changes to their positions in the company. Pine Valley Investments Ltd Liability Co increased its holdings in Lam Research by 48.3% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 11,464 shares of the semiconductor company’s stock valued at $9,364,000 after buying an additional 3,732 shares in the last quarter. Arvest Bank Trust Division acquired a new stake in shares of Lam Research during the 3rd quarter valued at about $18,106,000. Wilmington Savings Fund Society FSB increased its stake in shares of Lam Research by 383.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,547 shares of the semiconductor company’s stock valued at $3,711,000 after purchasing an additional 3,607 shares in the last quarter. Tidal Investments LLC raised its holdings in Lam Research by 409.6% in the 3rd quarter. Tidal Investments LLC now owns 37,420 shares of the semiconductor company’s stock worth $30,538,000 after purchasing an additional 30,077 shares during the period. Finally, Synovus Financial Corp boosted its position in Lam Research by 22.4% during the third quarter. Synovus Financial Corp now owns 3,071 shares of the semiconductor company’s stock worth $2,508,000 after purchasing an additional 561 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

LRCX has been the subject of several research analyst reports. Stifel Nicolaus reduced their target price on Lam Research from $100.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Cantor Fitzgerald restated an “overweight” rating and set a $100.00 price objective on shares of Lam Research in a research report on Tuesday, February 18th. Wells Fargo & Company lifted their target price on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Lam Research in a research report on Thursday, January 30th. Finally, Bank of America lowered their price objective on Lam Research from $110.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and an average price target of $93.87.

Lam Research Trading Down 2.1 %

LRCX opened at $63.76 on Friday. The stock has a market capitalization of $81.85 billion, a PE ratio of 19.37, a P/E/G ratio of 1.47 and a beta of 1.52. Lam Research Co. has a one year low of $56.32 and a one year high of $113.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The business’s 50 day moving average price is $74.79 and its 200 day moving average price is $75.93.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, equities research analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date was Wednesday, March 5th. Lam Research’s dividend payout ratio is presently 27.96%.

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.