Alpha Cubed Investments LLC Purchases New Stake in Lam Research Co. (LRCX)

Alpha Cubed Investments LLC acquired a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,897 shares of the semiconductor company’s stock, valued at approximately $1,085,000.

Several other large investors also recently made changes to their positions in the company. Janus Henderson Group PLC grew its stake in shares of Lam Research by 5.7% during the third quarter. Janus Henderson Group PLC now owns 5,014,215 shares of the semiconductor company’s stock valued at $927,828,000 after buying an additional 271,546 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Lam Research by 66.0% during the third quarter. Nordea Investment Management AB now owns 1,575,269 shares of the semiconductor company’s stock valued at $291,488,000 after buying an additional 626,034 shares during the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of Lam Research by 16.3% during the fourth quarter. UBS Asset Management Americas Inc. now owns 1,568,123 shares of the semiconductor company’s stock valued at $288,644,000 after buying an additional 219,479 shares during the last quarter. Old Mutual Global Investors UK Ltd. grew its stake in shares of Lam Research by 16.4% during the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 1,055,653 shares of the semiconductor company’s stock valued at $194,314,000 after buying an additional 148,375 shares during the last quarter. Finally, Alkeon Capital Management LLC grew its stake in shares of Lam Research by 1.2% during the third quarter. Alkeon Capital Management LLC now owns 827,493 shares of the semiconductor company’s stock valued at $153,119,000 after buying an additional 10,000 shares during the last quarter. 90.06% of the stock is currently owned by hedge funds and other institutional investors.

In other Lam Research news, SVP Sarah A. O’dowd sold 1,835 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $212.64, for a total transaction of $390,194.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Richard A. Gottscho sold 16,866 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $210.02, for a total transaction of $3,542,197.32. The disclosure for this sale can be found here. Insiders sold 50,619 shares of company stock valued at $10,790,107 over the last 90 days. 0.41% of the stock is currently owned by company insiders.

A number of research analysts have recently issued reports on the company. BidaskClub raised Lam Research from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Vetr cut Lam Research from a “strong-buy” rating to a “buy” rating and set a $240.39 price objective on the stock. in a research note on Monday. KeyCorp reiterated a “buy” rating and set a $225.00 target price on shares of Lam Research in a report on Sunday, November 19th. Deutsche Bank increased their target price on shares of Lam Research to $250.00 and gave the stock a “buy” rating in a report on Wednesday, March 7th. Finally, DA Davidson increased their target price on shares of Lam Research to $275.00 and gave the stock a “buy” rating in a report on Thursday, March 8th. Twenty-five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $239.28.

Shares of Lam Research Co. (NASDAQ:LRCX) traded down $1.33 on Wednesday, reaching $222.64. 3,291,909 shares of the company’s stock traded hands, compared to its average volume of 4,150,000. The company has a quick ratio of 2.09, a current ratio of 2.47 and a debt-to-equity ratio of 0.29. Lam Research Co. has a twelve month low of $121.17 and a twelve month high of $234.88. The stock has a market capitalization of $36,280.00, a price-to-earnings ratio of 75.99, a PEG ratio of 0.92 and a beta of 1.43.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $4.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.68 by $0.66. Lam Research had a net margin of 17.60% and a return on equity of 36.08%. The business had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same period last year, the business posted $2.24 earnings per share. Lam Research’s quarterly revenue was up 37.1% compared to the same quarter last year. analysts anticipate that Lam Research Co. will post 16.74 earnings per share for the current fiscal year.

Lam Research declared that its Board of Directors has authorized a share buyback plan on Tuesday, November 14th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the semiconductor company to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 7th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, March 6th. This represents a $2.00 annualized dividend and a yield of 0.90%. Lam Research’s dividend payout ratio (DPR) is presently 68.26%.

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Lam Research Profile

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.

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

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