J.Safra Asset Management Corp Buys New Position in Lam Research Co. (NASDAQ:LRCX)

J.Safra Asset Management Corp bought a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 690 shares of the semiconductor company’s stock, valued at approximately $50,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. boosted its position in Lam Research by 2,400.0% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock worth $163,000 after purchasing an additional 192 shares during the last quarter. Insight Wealth Partners LLC purchased a new position in Lam Research in the third quarter worth $202,000. B&L Asset Management LLC purchased a new position in Lam Research in the third quarter worth $204,000. Dynamic Technology Lab Private Ltd purchased a new position in Lam Research in the third quarter worth $220,000. Finally, Concorde Asset Management LLC purchased a new position in Lam Research in the third quarter worth $242,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $79.05 on Thursday. The firm has a market capitalization of $101.47 billion, a P/E ratio of 24.01, a P/E/G ratio of 1.47 and a beta of 1.46. 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 stock’s 50-day simple moving average is $79.14 and its two-hundred day simple moving average is $77.82. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, equities analysts anticipate that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.16%. Lam Research’s dividend payout ratio is currently 27.96%.

Wall Street Analyst Weigh In

Several research firms have weighed in on LRCX. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Mizuho boosted their target price on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. The Goldman Sachs Group lowered their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 target price on shares of Lam Research in a research note on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and an average target price of $98.22.

About Lam Research

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.