Northwestern Mutual Investment Management Company LLC increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 34.4% in the first quarter, Holdings Channel reports. The firm owned 7,571 shares of the semiconductor company’s stock after buying an additional 1,936 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Lam Research were worth $1,817,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the stock. Janney Montgomery Scott LLC grew its stake in Lam Research by 0.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 36,777 shares of the semiconductor company’s stock valued at $10,754,000 after acquiring an additional 172 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Lam Research in the fourth quarter valued at about $490,000. J.W. Cole Advisors Inc. acquired a new position in Lam Research in the fourth quarter valued at about $434,000. SPC Financial Inc. acquired a new position in Lam Research in the fourth quarter valued at about $227,000. Finally, Segment Wealth Management LLC acquired a new position in Lam Research in the fourth quarter valued at about $326,000. 86.69% of the stock is owned by institutional investors and hedge funds.
In other Lam Research news, CEO Timothy Archer sold 28,910 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $270.00, for a total value of $7,805,700.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.43% of the stock is owned by corporate insiders.
NASDAQ:LRCX opened at $261.14 on Friday. The company has a quick ratio of 3.67, a current ratio of 4.47 and a debt-to-equity ratio of 1.11. The stock’s 50 day moving average price is $255.69 and its two-hundred day moving average price is $277.63. The firm has a market capitalization of $37.84 billion, a price-to-earnings ratio of 18.77, a P/E/G ratio of 1.32 and a beta of 1.34. Lam Research Co. has a 12-month low of $171.04 and a 12-month high of $344.32.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, April 22nd. The semiconductor company reported $3.98 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.98. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.51 billion. Lam Research had a return on equity of 47.79% and a net margin of 21.81%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.70 earnings per share. Equities research analysts expect that Lam Research Co. will post 15.39 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Wednesday, June 17th will be paid a $1.15 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $4.60 annualized dividend and a yield of 1.76%. Lam Research’s dividend payout ratio is 31.62%.
A number of research analysts have issued reports on LRCX shares. BNP Paribas started coverage on Lam Research in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $320.00 target price for the company. Nomura boosted their target price on Lam Research from $265.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Bank of America reaffirmed a “buy” rating and set a $325.00 price objective on shares of Lam Research in a research report on Monday, April 20th. JPMorgan Chase & Co. reduced their price objective on Lam Research from $340.00 to $310.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Finally, Morgan Stanley reduced their price objective on Lam Research from $254.00 to $253.00 and set an “equal weight” rating for the company in a research report on Thursday, April 23rd. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $304.68.
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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