TimesSquare Capital Management LLC Sells 89,400 Shares of Lam Research Co. (LRCX)

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TimesSquare Capital Management LLC lessened its position in Lam Research Co. (NASDAQ:LRCX) by 20.9% in the first quarter, HoldingsChannel reports. The firm owned 338,600 shares of the semiconductor company’s stock after selling 89,400 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Lam Research were worth $60,613,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. We Are One Seven LLC bought a new position in Lam Research in the fourth quarter worth approximately $26,000. Berman Capital Advisors LLC purchased a new position in shares of Lam Research in the fourth quarter worth about $26,000. Global Retirement Partners LLC increased its holdings in shares of Lam Research by 119.4% in the first quarter. Global Retirement Partners LLC now owns 147 shares of the semiconductor company’s stock worth $26,000 after buying an additional 80 shares during the period. FTB Advisors Inc. increased its holdings in shares of Lam Research by 72.0% in the fourth quarter. FTB Advisors Inc. now owns 215 shares of the semiconductor company’s stock worth $28,000 after buying an additional 90 shares during the period. Finally, Strategy Asset Managers LLC purchased a new position in shares of Lam Research in the first quarter worth about $33,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently commented on LRCX shares. Citigroup reiterated a “buy” rating and issued a $215.00 price objective (up previously from $177.00) on shares of Lam Research in a report on Friday, March 15th. Mizuho reaffirmed a “buy” rating and set a $180.00 price objective on shares of Lam Research in a research report on Tuesday, April 16th. Zacks Investment Research raised Lam Research from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. UBS Group lifted their price objective on Lam Research from $170.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Finally, Deutsche Bank lifted their price objective on Lam Research from $160.00 to $180.00 and gave the company a “hold” rating in a research report on Monday, February 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $224.78.

Shares of LRCX traded up $1.36 during mid-day trading on Thursday, reaching $178.96. The company had a trading volume of 53,195 shares, compared to its average volume of 1,823,904. The company has a quick ratio of 2.79, a current ratio of 3.37 and a debt-to-equity ratio of 0.71. Lam Research Co. has a 52 week low of $122.64 and a 52 week high of $209.50. The stock has a market cap of $27.04 billion, a P/E ratio of 10.03, a P/E/G ratio of 1.04 and a beta of 1.57.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $3.70 EPS for the quarter, topping analysts’ consensus estimates of $3.38 by $0.32. Lam Research had a return on equity of 46.66% and a net margin of 25.64%. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the previous year, the firm posted $4.79 EPS. The business’s revenue for the quarter was down 15.7% compared to the same quarter last year. On average, equities analysts anticipate that Lam Research Co. will post 14.33 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Wednesday, June 12th will be given a $1.10 dividend. The ex-dividend date is Tuesday, June 11th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.46%. Lam Research’s dividend payout ratio is currently 24.62%.

In other Lam Research news, Director Abhijit Y. Talwalkar sold 3,988 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $195.00, for a total transaction of $777,660.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard A. Gottscho sold 2,155 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $209.00, for a total transaction of $450,395.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,125 shares of company stock worth $6,772,290. Insiders own 0.44% of the company’s stock.

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Lam Research Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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