StoneX Group Inc. Purchases Shares of 20,348 Lam Research Co. (NASDAQ:LRCX)

StoneX Group Inc. acquired a new position in Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 20,348 shares of the semiconductor company’s stock, valued at approximately $1,471,000.

Several other large investors also recently added to or reduced their stakes in LRCX. Vanguard Group Inc. boosted its stake in shares of Lam Research by 892.7% during the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock worth $8,724,498,000 after acquiring an additional 108,619,564 shares during the last quarter. Norges Bank purchased a new position in Lam Research during the fourth quarter valued at $1,661,672,000. Fisher Asset Management LLC grew its holdings in Lam Research by 892.7% during the fourth quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock valued at $1,341,902,000 after purchasing an additional 16,706,708 shares during the period. Amundi increased its position in Lam Research by 7,601.9% in the fourth quarter. Amundi now owns 12,945,172 shares of the semiconductor company’s stock worth $990,464,000 after buying an additional 12,777,094 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Lam Research by 860.4% in the fourth quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company’s stock worth $851,361,000 after buying an additional 10,559,508 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Lam Research Stock Up 0.2 %

Shares of LRCX opened at $72.83 on Wednesday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The business has a fifty day moving average of $79.18 and a 200 day moving average of $77.30. The company has a market cap of $93.49 billion, a PE ratio of 22.12, a P/E/G ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, sell-side analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s payout ratio is presently 27.96%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LRCX. Morgan Stanley boosted their price objective on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Barclays reduced their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Lam Research in a research note on Thursday, January 30th. Jefferies Financial Group increased their price target on Lam Research from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, March 28th. Finally, Oppenheimer began coverage on Lam Research in a research note on Thursday, March 20th. They issued an “outperform” rating and a $95.00 price objective for the company. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and an average price target of $97.59.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.29% of the company’s stock.

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.