Lam Research Co. (NASDAQ:LRCX) Shares Sold by Wealth Alliance

Wealth Alliance cut its position in Lam Research Co. (NASDAQ:LRCX) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,841 shares of the semiconductor company’s stock after selling 47 shares during the period. Wealth Alliance’s holdings in Lam Research were worth $1,442,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Imprint Wealth LLC acquired a new position in Lam Research in the 4th quarter worth approximately $249,000. First American Trust FSB acquired a new stake in shares of Lam Research in the fourth quarter worth $248,000. Eads & Heald Wealth Management raised its holdings in shares of Lam Research by 4.0% during the fourth quarter. Eads & Heald Wealth Management now owns 2,162 shares of the semiconductor company’s stock worth $1,693,000 after purchasing an additional 83 shares during the last quarter. LifePlan Financial LLC acquired a new position in Lam Research during the fourth quarter valued at $219,000. Finally, Flputnam Investment Management Co. boosted its holdings in Lam Research by 3.6% in the fourth quarter. Flputnam Investment Management Co. now owns 61,301 shares of the semiconductor company’s stock valued at $48,015,000 after purchasing an additional 2,105 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of recent research reports. Mizuho upped their target price on Lam Research from $900.00 to $935.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Wells Fargo & Company upped their price objective on Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Cantor Fitzgerald lifted their target price on shares of Lam Research from $900.00 to $1,100.00 and gave the company a “neutral” rating in a report on Monday, April 8th. The Goldman Sachs Group increased their price target on shares of Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Evercore ISI began coverage on shares of Lam Research in a report on Tuesday. They issued an “outperform” rating and a $1,200.00 price objective for the company. 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 data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus price target of $875.55.

Insiders Place Their Bets

In other Lam Research news, 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 value of $5,073,255.00. Following the completion of the sale, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of the transaction, the director now directly owns 10,541 shares in the company, valued at $10,246,168.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the sale, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,029 shares of company stock valued at $6,559,489. Insiders own 0.32% of the company’s stock.

Lam Research Price Performance

LRCX traded up $18.11 on Tuesday, hitting $964.28. 290,097 shares of the company’s stock were exchanged, compared to its average volume of 1,013,989. Lam Research Co. has a fifty-two week low of $482.74 and a fifty-two week high of $1,007.39. The stock has a market cap of $126.42 billion, a price-to-earnings ratio of 36.59, a P/E/G ratio of 3.47 and a beta of 1.51. The firm has a 50-day moving average price of $941.93 and a 200-day moving average price of $794.36. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, topping analysts’ consensus estimates of $7.06 by $0.46. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period in the previous year, the business posted $10.71 earnings per share. Lam Research’s quarterly revenue was down 28.8% on a year-over-year basis. As a group, equities analysts anticipate that Lam Research Co. will post 28.9 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were given a dividend of $2.00 per share. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a yield of 0.83%. Lam Research’s payout ratio is 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.