ExodusPoint Capital Management LP Purchases 190,572 Shares of Lam Research Co. (NASDAQ:LRCX)

ExodusPoint Capital Management LP boosted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1,289.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 205,347 shares of the semiconductor company’s stock after acquiring an additional 190,572 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Lam Research were worth $14,832,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Grant Private Wealth Management Inc bought a new stake in Lam Research in the 4th quarter valued at $818,000. Selway Asset Management bought a new position in shares of Lam Research in the fourth quarter valued at about $361,000. Arete Wealth Advisors LLC acquired a new stake in shares of Lam Research during the 4th quarter worth about $230,000. Motley Fool Asset Management LLC boosted its holdings in shares of Lam Research by 926.0% during the 4th quarter. Motley Fool Asset Management LLC now owns 61,199 shares of the semiconductor company’s stock worth $4,420,000 after buying an additional 55,234 shares during the period. Finally, World Investment Advisors grew its stake in Lam Research by 2,039.5% in the 4th quarter. World Investment Advisors now owns 5,798 shares of the semiconductor company’s stock valued at $419,000 after buying an additional 5,527 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Trading Down 11.6 %

Shares of LRCX opened at $65.22 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. Lam Research Co. has a 52-week low of $64.95 and a 52-week high of $113.00. The firm has a market cap of $83.72 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 1.47 and a beta of 1.53. The business’s fifty day moving average is $78.67 and its 200-day moving average is $77.19.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping 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%. Equities analysts anticipate that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.41%. Lam Research’s dividend payout ratio is currently 27.96%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research report on Friday, January 17th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. Oppenheimer began coverage on Lam Research in a report on Thursday, March 20th. They issued an “outperform” rating and a $95.00 price objective on the stock. Morgan Stanley lifted their target price on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Finally, Mizuho upped their price target on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.59.

Lam Research Profile

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.