PDS Planning Inc Boosts Stock Position in Lam Research Co. (NASDAQ:LRCX)

PDS Planning Inc boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 3.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 637 shares of the semiconductor company’s stock after acquiring an additional 21 shares during the period. PDS Planning Inc’s holdings in Lam Research were worth $499,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Morgan Stanley boosted its position in shares of Lam Research by 3.2% during the 3rd quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock worth $1,164,490,000 after acquiring an additional 56,824 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Lam Research by 10.8% during the 3rd 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 acquiring an additional 159,815 shares in the last quarter. Northern Trust Corp boosted its position in shares of Lam Research by 9.7% during the 3rd quarter. Northern Trust Corp now owns 1,523,215 shares of the semiconductor company’s stock worth $954,705,000 after acquiring an additional 134,558 shares in the last quarter. WCM Investment Management LLC boosted its position in shares of Lam Research by 0.6% during the 4th quarter. WCM Investment Management LLC now owns 600,594 shares of the semiconductor company’s stock worth $474,271,000 after acquiring an additional 3,717 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Lam Research by 12.0% during the 4th quarter. Nordea Investment Management AB now owns 453,787 shares of the semiconductor company’s stock worth $355,025,000 after acquiring an additional 48,482 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the subject of a number of research analyst reports. Wells Fargo & Company upped their target price on Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Susquehanna upped their target price on Lam Research from $655.00 to $880.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Citigroup upped their target price on Lam Research from $800.00 to $975.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. TD Cowen upped their target price on Lam Research from $710.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Evercore ISI initiated coverage on Lam Research in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 target price for the company. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $931.85.

Lam Research Stock Performance

Shares of LRCX stock traded up $21.87 during trading hours on Tuesday, reaching $889.94. 312,794 shares of the company’s stock were exchanged, compared to its average volume of 1,048,250. Lam Research Co. has a 1 year low of $493.42 and a 1 year high of $1,007.39. The company has a market cap of $116.67 billion, a P/E ratio of 33.57, a price-to-earnings-growth ratio of 3.15 and a beta of 1.51. The company’s 50 day moving average is $944.64 and its two-hundred day moving average is $804.00. 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 (NASDAQ:LRCX) last released 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. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The firm had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same period last year, the business posted $10.71 EPS. Lam Research’s quarterly revenue was down 28.8% on a year-over-year basis. Equities research analysts anticipate that Lam Research Co. will post 28.92 EPS for the current fiscal year.

Lam Research Dividend Announcement

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

Insider Buying and Selling at Lam Research

In other Lam Research news, 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 transaction of $5,073,255.00. Following the sale, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CAO Christina Corrreia sold 647 shares of Lam Research 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 sale, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 directly 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. In the last 90 days, insiders have sold 7,029 shares of company stock worth $6,559,489. 0.32% of the stock is owned by insiders.

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.