SeaCrest Wealth Management LLC Has $7.80 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

SeaCrest Wealth Management LLC lowered its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,650 shares of the semiconductor company’s stock after selling 46 shares during the period. Lam Research makes up 1.0% of SeaCrest Wealth Management LLC’s investment portfolio, making the stock its 15th biggest holding. SeaCrest Wealth Management LLC’s holdings in Lam Research were worth $7,800,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Blue Whale Capital LLP raised its holdings in shares of Lam Research by 0.7% in the 3rd quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock worth $70,386,000 after acquiring an additional 800 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in shares of Lam Research in the 4th quarter worth about $7,930,000. Treasurer of the State of North Carolina raised its holdings in shares of Lam Research by 0.9% in the 3rd quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock worth $39,994,000 after acquiring an additional 560 shares during the last quarter. DNB Asset Management AS raised its holdings in shares of Lam Research by 13.6% in the 4th quarter. DNB Asset Management AS now owns 41,100 shares of the semiconductor company’s stock worth $32,192,000 after acquiring an additional 4,910 shares during the last quarter. Finally, Raymond James Trust N.A. raised its holdings in shares of Lam Research by 15.8% in the 4th quarter. Raymond James Trust N.A. now owns 9,762 shares of the semiconductor company’s stock worth $7,646,000 after acquiring an additional 1,333 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on LRCX shares. Mizuho upped their target price on shares of Lam Research from $900.00 to $935.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. TD Cowen increased their price objective on shares of Lam Research from $710.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Morgan Stanley lowered shares of Lam Research from an “overweight” rating to an “equal weight” rating and set a $720.00 price objective for the company. in a research note on Friday, December 8th. The Goldman Sachs Group increased their price objective on shares of Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Barclays increased their price objective on shares of Lam Research from $750.00 to $825.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $811.68.

Insider Buying and Selling

In related news, CEO Timothy Archer sold 10,524 shares of Lam Research stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $732.00, for a total value of $7,703,568.00. Following the transaction, the chief executive officer now owns 86,449 shares in the company, valued at approximately $63,280,668. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Lam Research news, CEO Timothy Archer sold 10,524 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $732.00, for a total value of $7,703,568.00. Following the sale, the chief executive officer now owns 86,449 shares of the company’s stock, valued at approximately $63,280,668. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the sale, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Insiders have sold a total of 19,895 shares of company stock worth $15,666,586 in the last 90 days. 0.32% of the stock is owned by company insiders.

Lam Research Price Performance

Shares of Lam Research stock traded up $5.90 on Friday, hitting $971.57. 664,100 shares of the company traded hands, compared to its average volume of 1,086,944. The firm’s 50-day simple moving average is $907.49 and its 200 day simple moving average is $762.59. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. The company has a market cap of $127.37 billion, a P/E ratio of 37.57, a P/E/G ratio of 3.44 and a beta of 1.51. Lam Research Co. has a 12-month low of $480.45 and a 12-month high of $1,007.39.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating the consensus estimate of $7.06 by $0.46. The firm had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The business’s quarterly revenue was down 28.8% on a year-over-year basis. During the same quarter last year, the company posted $10.71 EPS. Analysts expect that Lam Research Co. will post 28.88 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Tuesday, March 12th. Lam Research’s payout ratio is presently 30.94%.

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.