Terra Nova Asset Management LLC Reduces Stake in Lam Research Co. (NASDAQ:LRCX)

Terra Nova Asset Management LLC cut its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,410 shares of the semiconductor company’s stock after selling 119 shares during the period. Lam Research accounts for 3.0% of Terra Nova Asset Management LLC’s holdings, making the stock its 5th biggest holding. Terra Nova Asset Management LLC’s holdings in Lam Research were worth $3,454,000 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 purchased a new stake in Lam Research during the third quarter valued at approximately $25,000. Bollard Group LLC lifted its position in Lam Research by 60.0% during the second quarter. Bollard Group LLC now owns 40 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 15 shares during the last quarter. BluePath Capital Management LLC purchased a new stake in Lam Research during the third quarter valued at approximately $28,000. Resurgent Financial Advisors LLC purchased a new stake in Lam Research during the second quarter valued at approximately $29,000. Finally, OFI Invest Asset Management purchased a new stake in Lam Research during the third quarter valued at approximately $30,000. 84.61% of the stock is currently owned by institutional investors.

Lam Research Stock Performance

Shares of LRCX stock opened at $971.57 on Friday. The firm’s 50 day moving average price is $907.49 and its 200-day moving average price is $762.59. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. Lam Research Co. has a one year low of $480.45 and a one year high of $1,007.39. The firm has a market cap of $127.37 billion, a P/E ratio of 37.57, a P/E/G ratio of 3.44 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, topping the consensus estimate of $7.06 by $0.46. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the prior year, the firm earned $10.71 EPS. The firm’s revenue for the quarter was down 28.8% on a year-over-year basis. As a group, equities research analysts predict that Lam Research Co. will post 28.88 EPS for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is 30.94%.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the 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 completion of 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 document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Ava Hahn sold 2,342 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $732.00, for a total value of $1,714,344.00. Following the completion of the sale, the senior vice president now owns 3,433 shares in the company, valued at $2,512,956. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the sale, the senior vice president now 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. Insiders have sold 19,895 shares of company stock valued at $15,666,586 in the last ninety days. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on LRCX. Raymond James raised their price target on shares of Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Morgan Stanley cut shares of Lam Research from an “overweight” rating to an “equal weight” rating and set a $720.00 price target for the company. in a report on Friday, December 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $900.00 price target on shares of Lam Research in a report on Monday, March 4th. Barclays raised their price target on shares of Lam Research from $750.00 to $825.00 and gave the stock an “equal weight” rating in a report on Thursday, January 25th. Finally, Susquehanna raised their price target on shares of Lam Research from $655.00 to $880.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus target price of $811.68.

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.