New York Life Investment Management LLC Sells 89 Shares of Lam Research Co. (NASDAQ:LRCX)

New York Life Investment Management LLC trimmed its position in shares of Lam Research Co. (NASDAQ:LRCX) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,706 shares of the semiconductor company’s stock after selling 89 shares during the period. New York Life Investment Management LLC’s holdings in Lam Research were worth $16,218,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of LRCX. Blue Whale Capital LLP increased its position in shares of Lam Research by 0.7% during the third quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock valued at $70,386,000 after buying an additional 800 shares during the period. Citizens Financial Group Inc. RI increased its position in shares of Lam Research by 20.9% during the fourth quarter. Citizens Financial Group Inc. RI now owns 491 shares of the semiconductor company’s stock valued at $384,000 after buying an additional 85 shares during the period. Everence Capital Management Inc. increased its position in shares of Lam Research by 54.7% during the fourth quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock valued at $3,190,000 after buying an additional 1,440 shares during the period. Gradient Investments LLC increased its position in shares of Lam Research by 32,411.1% during the fourth quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock valued at $11,459,000 after buying an additional 14,585 shares during the period. Finally, Contravisory Investment Management Inc. purchased a new position in shares of Lam Research during the fourth quarter valued at about $7,930,000. 84.61% of the stock is owned by institutional investors.

Lam Research Trading Up 1.5 %

Shares of Lam Research stock opened at $881.00 on Thursday. The company’s fifty day simple moving average is $942.92 and its 200-day simple moving average is $815.57. The stock has a market capitalization of $115.50 billion, a PE ratio of 31.93, a P/E/G ratio of 2.78 and a beta of 1.51. Lam Research Co. has a 1-year low of $507.19 and a 1-year high of $1,007.39. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, topping the consensus estimate of $7.26 by $0.53. The business had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The company’s revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $6.99 EPS. As a group, equities analysts anticipate that Lam Research Co. will post 29.62 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s dividend payout ratio is presently 29.42%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Lam Research from $900.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Needham & Company LLC restated a “buy” rating and issued a $1,030.00 price objective on shares of Lam Research in a report on Thursday, April 25th. Wells Fargo & Company upped their price objective on shares of Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. UBS Group upped their price objective on shares of Lam Research from $1,130.00 to $1,150.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, Evercore ISI initiated coverage on shares of Lam Research in a report on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $950.85.

Insider Transactions at Lam Research

In related news, 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 transaction of $5,073,255.00. Following the transaction, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, 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 transaction of $5,073,255.00. Following the transaction, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Patrick J. Lord sold 60 shares of Lam Research stock in a transaction on Monday, April 29th. The shares were sold at an average price of $921.54, for a total transaction of $55,292.40. Following the transaction, the executive vice president now owns 4,454 shares in the company, valued at approximately $4,104,539.16. The disclosure for this sale can be found here. Insiders have sold 7,089 shares of company stock worth $6,614,781 in the last 90 days. 0.32% of the stock is currently owned by insiders.

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.