Catalyst Capital Advisors LLC Invests $377,000 in Lam Research Co. (LRCX) Stock
Catalyst Capital Advisors LLC purchased a new stake in shares of Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, Holdings Channel reports. The firm purchased 2,050 shares of the semiconductor company’s stock, valued at approximately $377,000.
A number of other hedge funds have also made changes to their positions in LRCX. Krilogy Financial LLC increased its stake in Lam Research by 91.6% during the 3rd quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock valued at $102,000 after purchasing an additional 263 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Lam Research by 144.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock valued at $122,000 after purchasing an additional 392 shares in the last quarter. Bollard Group LLC bought a new stake in Lam Research during the 3rd quarter valued at $130,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Lam Research during the 3rd quarter valued at $134,000. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in Lam Research during the 3rd quarter valued at $185,000. Institutional investors and hedge funds own 92.49% of the company’s stock.
A number of brokerages have commented on LRCX. ValuEngine upgraded shares of Lam Research from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. BidaskClub lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Deutsche Bank reiterated a “buy” rating and issued a $240.00 target price on shares of Lam Research in a research note on Thursday, January 25th. Royal Bank of Canada upped their target price on shares of Lam Research to $245.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, JPMorgan Chase & Co. upped their target price on shares of Lam Research from $230.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Two investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Lam Research currently has a consensus rating of “Buy” and a consensus price target of $232.41.
Lam Research Co. (NASDAQ LRCX) opened at $183.01 on Thursday. The company has a quick ratio of 2.09, a current ratio of 2.47 and a debt-to-equity ratio of 0.29. The firm has a market cap of $28,119.08, a PE ratio of 20.18, a P/E/G ratio of 0.69 and a beta of 1.47. Lam Research Co. has a fifty-two week low of $113.20 and a fifty-two week high of $219.70.
Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.68 by $0.66. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.57 billion. Lam Research had a net margin of 17.60% and a return on equity of 36.08%. The firm’s quarterly revenue was up 37.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.24 EPS. analysts predict that Lam Research Co. will post 16.74 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 7th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Tuesday, March 6th. Lam Research’s dividend payout ratio (DPR) is currently 22.05%.
Lam Research declared that its Board of Directors has authorized a share buyback program on Tuesday, November 14th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
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About Lam Research
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.
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