Lam Research Co. (NASDAQ:LRCX) Stock Position Lifted by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lifted its stake in Lam Research Co. (NASDAQ:LRCX) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,567 shares of the semiconductor company’s stock after purchasing an additional 2,183 shares during the period. Lam Research accounts for about 1.5% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its biggest holding. Wedge Capital Management L L P NC’s holdings in Lam Research were worth $82,686,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of LRCX. AE Wealth Management LLC grew its holdings in shares of Lam Research by 11.4% during the 3rd quarter. AE Wealth Management LLC now owns 5,833 shares of the semiconductor company’s stock worth $3,656,000 after acquiring an additional 596 shares during the period. McBroom & Associates LLC boosted its position in shares of Lam Research by 1.8% during the third quarter. McBroom & Associates LLC now owns 9,263 shares of the semiconductor company’s stock valued at $5,806,000 after purchasing an additional 163 shares in the last quarter. Capital Investment Advisors LLC purchased a new stake in Lam Research in the third quarter worth $410,000. TTP Investments Inc. raised its holdings in Lam Research by 7.7% in the third quarter. TTP Investments Inc. now owns 4,325 shares of the semiconductor company’s stock worth $2,711,000 after purchasing an additional 309 shares in the last quarter. Finally, Impact Partnership Wealth LLC boosted its holdings in shares of Lam Research by 10.7% during the 3rd quarter. Impact Partnership Wealth LLC now owns 671 shares of the semiconductor company’s stock valued at $421,000 after buying an additional 65 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling 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 other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the sale, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock valued at $6,559,489 over the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

Lam Research Stock Performance

Lam Research stock traded down $2.18 during mid-day trading on Monday, reaching $868.07. 1,828,729 shares of the stock traded hands, compared to its average volume of 1,057,880. The stock has a market capitalization of $113.80 billion, a PE ratio of 33.65, a price-to-earnings-growth ratio of 3.15 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. The business’s 50-day moving average is $945.44 and its 200-day moving average is $802.29. Lam Research Co. has a 12-month low of $493.42 and a 12-month high of $1,007.39.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating the consensus estimate of $7.06 by $0.46. The company had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.71 billion. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. Lam Research’s quarterly revenue was down 28.8% compared to the same quarter last year. During the same period in the previous year, the business earned $10.71 earnings per share. As a group, sell-side analysts predict that Lam Research Co. will post 28.92 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s payout ratio is 30.94%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on LRCX shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Lam Research in a research note on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 price target for the company. Evercore ISI started coverage on Lam Research in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 price objective for the company. Citigroup boosted their target price on Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. TD Cowen lifted their price target on Lam Research from $710.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, B. Riley raised shares of Lam Research from a “neutral” rating to a “buy” rating and increased their price objective for the company from $870.00 to $1,100.00 in a research report on Friday. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $931.85.

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.