Northwestern Mutual Investment Management Company LLC lifted its holdings in Lam Research Co. (NASDAQ:LRCX) by 34.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,571 shares of the semiconductor company’s stock after purchasing an additional 1,936 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Lam Research were worth $1,817,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its stake in Lam Research by 0.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 36,777 shares of the semiconductor company’s stock valued at $10,754,000 after buying an additional 172 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Lam Research during the fourth quarter valued at about $490,000. J.W. Cole Advisors Inc. bought a new position in Lam Research during the fourth quarter valued at about $434,000. SPC Financial Inc. bought a new position in Lam Research during the fourth quarter valued at about $227,000. Finally, Segment Wealth Management LLC bought a new position in Lam Research during the fourth quarter valued at about $326,000. 86.69% of the stock is owned by institutional investors.
LRCX opened at $261.14 on Friday. Lam Research Co. has a fifty-two week low of $171.04 and a fifty-two week high of $344.32. The business has a 50-day moving average of $255.69 and a 200-day moving average of $277.63. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.47 and a quick ratio of 3.67. The company has a market capitalization of $37.84 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 1.32 and a beta of 1.34.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Wednesday, June 17th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Tuesday, June 16th. Lam Research’s payout ratio is 31.62%.
In related news, CEO Timothy Archer sold 28,910 shares of the firm’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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.43% of the stock is currently owned by company insiders.
A number of equities analysts recently weighed in on LRCX shares. Deutsche Bank upgraded Lam Research from a “hold” rating to a “buy” rating and increased their price target for the company from $280.00 to $300.00 in a research report on Friday, March 27th. JPMorgan Chase & Co. decreased their price target 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. Wells Fargo & Co increased their price target on Lam Research from $210.00 to $270.00 and gave the company an “equal weight” rating in a research report on Thursday, April 23rd. Nomura increased their price target on Lam Research from $265.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Finally, DA Davidson increased their price target on Lam Research from $250.00 to $270.00 and gave the company a “neutral” rating in a research report on Thursday, April 23rd. Eight analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $304.68.
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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