Lam Research Co. (NASDAQ:LRCX) Shares Sold by 1900 Wealth Management LLC

1900 Wealth Management LLC decreased its holdings in Lam Research Co. (NASDAQ:LRCX) by 11.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 575 shares of the semiconductor company’s stock after selling 77 shares during the quarter. 1900 Wealth Management LLC’s holdings in Lam Research were worth $450,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of LRCX. Morgan Stanley increased its holdings in Lam Research by 3.2% in the third quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock valued at $1,164,490,000 after buying an additional 56,824 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Lam Research by 10.8% during the third quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock worth $1,029,386,000 after buying an additional 159,815 shares during the period. Northern Trust Corp boosted its position in shares of Lam Research by 9.7% during the third quarter. Northern Trust Corp now owns 1,523,215 shares of the semiconductor company’s stock worth $954,705,000 after buying an additional 134,558 shares during the period. WCM Investment Management LLC boosted its position in shares of Lam Research by 0.6% during the fourth quarter. WCM Investment Management LLC now owns 600,594 shares of the semiconductor company’s stock worth $474,271,000 after buying an additional 3,717 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of Lam Research by 12.0% during the fourth quarter. Nordea Investment Management AB now owns 453,787 shares of the semiconductor company’s stock worth $355,025,000 after buying an additional 48,482 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Activity

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’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 transaction, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the transaction, the director now 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 through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction dated 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 transaction, 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 a total of 7,029 shares of company stock worth $6,559,489 over the last quarter. 0.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on LRCX shares. 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 research report on Monday, April 8th. Citigroup upped their price target on shares of Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Deutsche Bank Aktiengesellschaft started coverage on Lam Research in a report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 price objective for the company. The Goldman Sachs Group upped their price target on Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Wells Fargo & Company increased their target price on Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $931.85.

Lam Research Stock Performance

LRCX stock traded up $13.95 during trading hours on Tuesday, hitting $882.02. 272,686 shares of the stock were exchanged, compared to its average volume of 1,047,188. 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 firm has a market capitalization of $115.63 billion, a P/E ratio of 33.57, a P/E/G ratio of 3.15 and a beta of 1.51. The company has a 50-day simple moving average of $944.64 and a two-hundred day simple moving average of $804.00. Lam Research Co. has a 12 month low of $493.42 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, topping 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 quarterly revenue was down 28.8% compared to the same quarter last year. During the same quarter last year, the business earned $10.71 EPS. On average, analysts forecast that Lam Research Co. will post 28.92 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed 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 0.91%. Lam Research’s dividend payout ratio is 30.94%.

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.