Weatherly Asset Management L. P. Trims Holdings in Lam Research Co. (NASDAQ:LRCX)

Weatherly Asset Management L. P. trimmed its position in Lam Research Co. (NASDAQ:LRCX) by 1.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,040 shares of the semiconductor company’s stock after selling 34 shares during the period. Weatherly Asset Management L. P.’s holdings in Lam Research were worth $1,602,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Valued Wealth Advisors LLC purchased a new position in shares of Lam Research during the 4th quarter worth about $30,000. Orion Capital Management LLC purchased a new position in shares of Lam Research during the 3rd quarter worth about $25,000. BluePath Capital Management LLC purchased a new position in shares of Lam Research during the 3rd quarter worth about $28,000. Asset Dedication LLC lifted its holdings in shares of Lam Research by 56.7% during the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 17 shares during the period. Finally, Rakuten Securities Inc. purchased a new position in shares of Lam Research during the 4th quarter worth about $38,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the transaction, the chief accounting officer now directly owns 5,541 shares in the company, valued at $5,386,018.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s 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 directly 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 7,029 shares of company stock worth $6,559,489 over the last ninety days. 0.32% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

LRCX has been the topic of several research reports. Stifel Nicolaus raised their price target on shares of Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. B. Riley upgraded shares of Lam Research from a “neutral” rating to a “buy” rating and raised their price target for the company from $870.00 to $1,100.00 in a report on Friday. TD Cowen raised their price target on shares of Lam Research from $710.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Needham & Company LLC raised their price target on shares of Lam Research from $900.00 to $1,030.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Lam Research in a report on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and an average target price of $931.85.

Lam Research Stock Up 2.2 %

Shares of LRCX stock traded up $19.35 during mid-day trading on Tuesday, reaching $887.42. 981,354 shares of the company were exchanged, compared to its average volume of 1,057,222. Lam Research Co. has a fifty-two week low of $493.42 and a fifty-two week high of $1,007.39. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The company has a market capitalization of $116.34 billion, a P/E ratio of 33.57, a P/E/G ratio of 3.15 and a beta of 1.51. The business’s 50 day simple moving average is $944.64 and its 200 day simple moving average is $804.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data 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 firm had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same period last year, the business posted $10.71 earnings per share. The firm’s revenue for the quarter was down 28.8% on a year-over-year basis. Research analysts predict that Lam Research Co. will post 28.92 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is presently 30.94%.

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.