Metis Global Partners LLC Sells 612 Shares of Lam Research Co. (NASDAQ:LRCX)

Metis Global Partners LLC cut its position in shares of Lam Research Co. (NASDAQ:LRCX) by 9.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,021 shares of the semiconductor company’s stock after selling 612 shares during the quarter. Metis Global Partners LLC’s holdings in Lam Research were worth $4,716,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Orion Capital Management LLC bought a new position in Lam Research during the third quarter worth about $25,000. BluePath Capital Management LLC bought a new stake in Lam Research during the 3rd quarter valued at $28,000. OFI Invest Asset Management purchased a new stake in shares of Lam Research during the third quarter worth $30,000. Asset Dedication LLC grew its position in shares of Lam Research by 56.7% in the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 17 shares in the last quarter. Finally, Valued Wealth Advisors LLC bought a new stake in shares of Lam Research during the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Activity

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Abhijit Y. Talwalkar sold 882 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 transaction of $857,330.46. Following the completion of the transaction, the director now owns 10,541 shares in the company, valued at approximately $10,246,168.23. The disclosure for this sale can be found here. Insiders sold a total of 7,489 shares of company stock worth $6,978,065 over the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

LRCX has been the topic of several analyst reports. Citigroup upped their price target on Lam Research from $975.00 to $1,025.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Barclays boosted their price target on shares of Lam Research from $825.00 to $865.00 and gave the company an “equal weight” rating in a research report on Thursday, April 25th. Raymond James upped their price objective on shares of Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. lifted their target price 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. Finally, TD Cowen lifted their price objective on shares of Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus target price of $950.85.

Lam Research Trading Up 1.8 %

NASDAQ:LRCX traded up $16.01 during trading hours on Monday, reaching $924.54. 576,913 shares of the stock were exchanged, compared to its average volume of 1,061,636. The company has a quick ratio of 1.84, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $120.87 billion, a price-to-earnings ratio of 34.04, a PEG ratio of 2.82 and a beta of 1.51. The business has a 50-day moving average of $941.31 and a two-hundred day moving average of $820.25. Lam Research Co. has a twelve month low of $512.09 and a twelve month high of $1,007.39.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $6.99 EPS. On average, equities analysts predict that Lam Research Co. will post 29.62 EPS for the current year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s dividend payout ratio is currently 29.42%.

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.