Everence Capital Management Inc. Purchases 1,440 Shares of Lam Research Co. (NASDAQ:LRCX)

Everence Capital Management Inc. grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 54.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,073 shares of the semiconductor company’s stock after purchasing an additional 1,440 shares during the quarter. Everence Capital Management Inc.’s holdings in Lam Research were worth $3,190,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arlington Trust Co LLC increased its holdings in shares of Lam Research by 7.7% in the fourth quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock worth $143,000 after purchasing an additional 13 shares during the period. KB Financial Partners LLC increased its stake in Lam Research by 5.9% in the 2nd quarter. KB Financial Partners LLC now owns 287 shares of the semiconductor company’s stock worth $185,000 after acquiring an additional 16 shares during the last quarter. Clear Creek Financial Management LLC raised its holdings in shares of Lam Research by 1.3% in the 3rd quarter. Clear Creek Financial Management LLC now owns 1,342 shares of the semiconductor company’s stock valued at $841,000 after acquiring an additional 17 shares in the last quarter. Asset Dedication LLC boosted its position in shares of Lam Research by 56.7% during the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 17 shares during the last quarter. Finally, Western Financial Corp CA grew its holdings in shares of Lam Research by 1.7% during the fourth quarter. Western Financial Corp CA now owns 1,003 shares of the semiconductor company’s stock worth $786,000 after purchasing an additional 17 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Up 1.8 %

Shares of NASDAQ LRCX traded up $17.06 during mid-day trading on Tuesday, hitting $963.23. 537,366 shares of the stock traded hands, compared to its average volume of 1,017,665. Lam Research Co. has a 52 week low of $482.74 and a 52 week high of $1,007.39. The company has a market cap of $126.28 billion, a price-to-earnings ratio of 36.59, a PEG ratio of 3.47 and a beta of 1.51. The stock has a fifty day moving average price of $941.93 and a 200-day moving average price of $794.36. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating 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 business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter last year, the firm earned $10.71 earnings per share. The business’s revenue for the quarter was down 28.8% on a year-over-year basis. Research analysts anticipate that Lam Research Co. will post 28.9 EPS for the current year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were paid a $2.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.83%. Lam Research’s dividend payout ratio is currently 30.94%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on LRCX shares. UBS Group raised their target price on shares of Lam Research from $885.00 to $1,130.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. The Goldman Sachs Group increased their price target on shares of Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Cantor Fitzgerald lifted their price objective on Lam Research from $900.00 to $1,100.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Stifel Nicolaus increased their price objective on Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, TD Cowen raised their target price on shares of Lam Research from $710.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $875.55.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the transaction, the chief accounting officer now owns 5,541 shares in the company, valued at $5,386,018.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the 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 sale, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The disclosure for this sale can be found here. Insiders sold 7,029 shares of company stock worth $6,559,489 over the last three months. 0.32% of the stock is currently owned by corporate insiders.

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.