Ninety One UK Ltd Trims Holdings in Lam Research Co. (NASDAQ:LRCX)

Ninety One UK Ltd lessened its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 34.2% during the fourth quarter, Holdings Channel reports. The firm owned 47,413 shares of the semiconductor company’s stock after selling 24,674 shares during the quarter. Ninety One UK Ltd’s holdings in Lam Research were worth $37,137,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of LRCX. Orion Capital Management LLC purchased a new position in Lam Research during the 3rd quarter valued at about $25,000. BluePath Capital Management LLC purchased a new position in shares of Lam Research during the 3rd quarter worth approximately $28,000. OFI Invest Asset Management purchased a new position in shares of Lam Research during the 3rd quarter worth approximately $30,000. Asset Dedication LLC grew its holdings 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 worth $30,000 after acquiring an additional 17 shares during the period. Finally, Valued Wealth Advisors LLC purchased a new position in shares of Lam Research during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’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 in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction 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 sale, the director now owns 10,541 shares in the company, valued at approximately $10,246,168.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the 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 owns 22,095 shares of the company’s stock, valued at approximately $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 in the last three months. Corporate insiders own 0.32% of the company’s stock.

Lam Research Price Performance

NASDAQ LRCX opened at $888.92 on Friday. The business’s fifty day moving average price is $946.27 and its 200-day moving average price is $798.17. The stock has a market capitalization of $116.54 billion, a price-to-earnings ratio of 34.37, a PEG ratio of 3.30 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. Lam Research Co. has a 1-year low of $482.74 and a 1-year high of $1,007.39.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results 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 return on equity of 44.47% and a net margin of 24.15%. The company’s revenue was down 28.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.71 EPS. On average, equities analysts predict that Lam Research Co. will post 28.9 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 annualized dividend and a dividend yield of 0.90%. Lam Research’s payout ratio is 30.94%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LRCX. Evercore ISI began coverage on Lam Research in a report on Tuesday. They set an “outperform” rating and a $1,200.00 target price on the stock. Cantor Fitzgerald upped their target price on Lam Research from $900.00 to $1,100.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. TD Cowen upped their target price on Lam Research from $710.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Needham & Company LLC boosted their price target on Lam Research from $900.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, B. Riley raised Lam Research from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $870.00 to $1,100.00 in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $899.64.

Lam Research 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.