Ossiam Takes $2.55 Million Position in Lam Research Co. (NASDAQ:LRCX)

Ossiam purchased a new position in Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 35,329 shares of the semiconductor company’s stock, valued at approximately $2,552,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Pine Valley Investments Ltd Liability Co raised its stake in shares of 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 acquiring an additional 3,732 shares during the period. Arvest Bank Trust Division purchased a new position in shares of Lam Research during the third quarter valued at approximately $18,106,000. Wilmington Savings Fund Society FSB grew its stake in shares of Lam Research by 383.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 4,547 shares of the semiconductor company’s stock valued at $3,711,000 after buying an additional 3,607 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Lam Research by 409.6% in the third quarter. Tidal Investments LLC now owns 37,420 shares of the semiconductor company’s stock worth $30,538,000 after buying an additional 30,077 shares during the period. Finally, Synovus Financial Corp boosted its holdings in Lam Research by 22.4% during the 3rd quarter. Synovus Financial Corp now owns 3,071 shares of the semiconductor company’s stock valued at $2,508,000 after acquiring an additional 561 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LRCX. UBS Group lowered their target price on shares of Lam Research from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Jefferies Financial Group lifted their price target on shares of Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, March 28th. Oppenheimer reduced their price objective on Lam Research from $95.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Finally, Wells Fargo & Company lifted their target price on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and a consensus target price of $93.87.

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.29% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX opened at $63.76 on Friday. Lam Research Co. has a 12 month low of $56.32 and a 12 month high of $113.00. The stock has a fifty day moving average price of $74.79 and a 200-day moving average price of $75.93. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The firm has a market cap 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 (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share 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 research analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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

Lam Research Company 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.