1900 Wealth Management LLC Cuts Stock Position in Lam Research Co. (NASDAQ:LRCX)

1900 Wealth Management LLC cut its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 11.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 575 shares of the semiconductor company’s stock after selling 77 shares during the period. 1900 Wealth Management LLC’s holdings in Lam Research were worth $450,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Morgan Stanley increased its stake in shares of Lam Research by 3.2% during the third quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock worth $1,164,490,000 after buying an additional 56,824 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Lam Research by 10.8% in the third quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock valued at $1,029,386,000 after acquiring an additional 159,815 shares during the period. Northern Trust Corp boosted its holdings in shares of Lam Research by 9.7% in the third quarter. Northern Trust Corp now owns 1,523,215 shares of the semiconductor company’s stock valued at $954,705,000 after acquiring an additional 134,558 shares during the period. WCM Investment Management LLC boosted its holdings in shares of Lam Research by 0.6% in the fourth quarter. WCM Investment Management LLC now owns 600,594 shares of the semiconductor company’s stock valued at $474,271,000 after acquiring an additional 3,717 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of Lam Research by 12.0% in the fourth quarter. Nordea Investment Management AB now owns 453,787 shares of the semiconductor company’s stock valued at $355,025,000 after acquiring an additional 48,482 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Needham & Company LLC increased their price objective on Lam Research from $900.00 to $1,030.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Citigroup increased their price target 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 increased their price objective on Lam Research from $710.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Raymond James increased their price objective on Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, Cantor Fitzgerald increased their price objective on Lam Research from $900.00 to $1,100.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and an average target price of $931.85.

Lam Research Stock Performance

Shares of NASDAQ:LRCX traded up $13.95 on Tuesday, hitting $882.02. The company’s stock had a trading volume of 272,686 shares, compared to its average volume of 1,047,188. Lam Research Co. has a 12 month low of $493.42 and a 12 month high of $1,007.39. The company has a market capitalization of $115.63 billion, a price-to-earnings ratio of 33.57, a price-to-earnings-growth ratio of 3.15 and a beta of 1.51. The stock’s 50-day moving average is $944.64 and its two-hundred day moving average is $804.00. 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 (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.06 by $0.46. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The company had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter in the prior year, the business posted $10.71 earnings per share. The company’s revenue for the quarter was down 28.8% compared to the same quarter last year. On average, equities research analysts forecast that Lam Research Co. will post 28.92 EPS for the current year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a $2.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 annualized dividend and a dividend yield of 0.91%. Lam Research’s dividend payout ratio (DPR) is 30.94%.

Insider Activity

In other news, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the sale, the chief accounting officer now owns 5,541 shares in the company, valued at $5,386,018.23. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Christina Corrreia sold 647 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the sale, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of the sale, the director now directly owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The disclosure for this sale can be found here. Insiders sold a total of 7,029 shares of company stock worth $6,559,489 over the last 90 days. 0.32% of the stock is currently 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.