Townsend & Associates Inc Trims Position in Lam Research Co. (NASDAQ:LRCX)

Townsend & Associates Inc decreased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 28.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 391 shares of the semiconductor company’s stock after selling 152 shares during the period. Townsend & Associates Inc’s holdings in Lam Research were worth $332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in LRCX. Valued Wealth Advisors LLC acquired a new position in Lam Research in the 4th quarter valued at about $30,000. Orion Capital Management LLC acquired a new position in Lam Research in the third quarter valued at approximately $25,000. BluePath Capital Management LLC acquired a new position in Lam Research in the third quarter valued at approximately $28,000. Asset Dedication LLC boosted its holdings in 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, Rakuten Securities Inc. acquired a new position in Lam Research in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of research reports. B. Riley upgraded Lam Research from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $870.00 to $1,100.00 in a research note on Friday, April 19th. Susquehanna dropped their price objective on Lam Research from $880.00 to $850.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Citigroup upped their price objective on Lam Research from $975.00 to $1,025.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft initiated coverage on Lam Research in a report on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 target price on the stock. Finally, The Goldman Sachs Group upped their target price on Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $950.85.

Lam Research Price Performance

Shares of LRCX traded down $4.53 during mid-day trading on Thursday, reaching $908.75. The company had a trading volume of 188,699 shares, compared to its average volume of 1,043,919. The company’s 50 day simple moving average is $940.71 and its 200 day simple moving average is $824.74. Lam Research Co. has a 1-year low of $520.05 and a 1-year high of $1,007.39. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.84 and a current ratio of 2.82. The company has a market capitalization of $118.81 billion, a price-to-earnings ratio of 33.59, a P/E/G ratio of 2.82 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.26 by $0.53. The firm had revenue of $3.79 billion during the quarter, compared to analyst estimates 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 business earned $6.99 EPS. Analysts expect that Lam Research Co. will post 29.62 EPS for the current year.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction dated 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 directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s 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 sale, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the sale, the chief accounting officer now owns 5,541 shares in the company, valued at $5,386,018.23. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,489 shares of company stock valued at $6,978,065. 0.32% of the stock is owned by company 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.