Clearbridge Investments LLC Buys 70,236 Shares of Lam Research Co. (NASDAQ:LRCX)

Clearbridge Investments LLC boosted its holdings in Lam Research Co. (NASDAQ:LRCX) by 36.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 265,595 shares of the semiconductor company’s stock after acquiring an additional 70,236 shares during the period. Clearbridge Investments LLC owned about 0.18% of Lam Research worth $47,544,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of LRCX. Berman Capital Advisors LLC acquired a new position in Lam Research during the 4th quarter worth $26,000. Global Retirement Partners LLC lifted its position in Lam Research by 119.4% during the 1st quarter. Global Retirement Partners LLC now owns 147 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 80 shares during the last quarter. FTB Advisors Inc. lifted its position in Lam Research by 72.0% during the 4th quarter. FTB Advisors Inc. now owns 215 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 90 shares during the last quarter. Zions Bancorporation N.A. bought a new position in shares of Lam Research during the 1st quarter worth about $28,000. Finally, Strategy Asset Managers LLC bought a new position in shares of Lam Research during the 1st quarter worth about $33,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

LRCX has been the topic of several research reports. Needham & Company LLC boosted their price objective on shares of Lam Research from $180.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. B. Riley set a $33.00 price objective on shares of Triumph Bancorp and gave the stock a “buy” rating in a report on Monday, April 22nd. KeyCorp reissued a “hold” rating on shares of Packaging Corp Of America in a research note on Thursday, April 25th. Mizuho upped their target price on shares of Facebook from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, UBS Group reissued a “buy” rating and issued a $124.00 target price on shares of Cie Gnrl des Etblsmnts Michelin SCA in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $223.39.

Shares of LRCX stock traded up $6.35 during trading hours on Friday, reaching $191.24. 1,931,021 shares of the company were exchanged, compared to its average volume of 1,719,867. The business has a fifty day moving average price of $182.47. Lam Research Co. has a fifty-two week low of $122.64 and a fifty-two week high of $209.50. The firm has a market cap of $27.72 billion, a P/E ratio of 10.70, a price-to-earnings-growth ratio of 1.07 and a beta of 1.59. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.79 and a current ratio of 3.37.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported $3.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.38 by $0.32. Lam Research had a net margin of 25.64% and a return on equity of 46.66%. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the firm earned $4.79 earnings per share. The business’s quarterly revenue was down 15.7% on a year-over-year basis. As a group, sell-side analysts predict that Lam Research Co. will post 14.33 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Wednesday, June 12th were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.30%. The ex-dividend date was Tuesday, June 11th. Lam Research’s dividend payout ratio is 24.62%.

In related news, Director Abhijit Y. Talwalkar sold 3,988 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $203.00, for a total value of $809,564.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard A. Gottscho sold 2,155 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $209.00, for a total transaction of $450,395.00. The disclosure for this sale can be found here. Insiders have sold 13,391 shares of company stock valued at $2,776,675 in the last three months. 0.44% of the stock is owned by insiders.

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

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