Cutter & CO Brokerage Inc. Decreases Holdings in Lam Research Co. (NASDAQ:LRCX)

Cutter & CO Brokerage Inc. decreased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 7.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,747 shares of the semiconductor company’s stock after selling 223 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Lam Research were worth $2,151,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Orion Capital Management LLC acquired a new stake in shares of Lam Research in the third quarter worth $25,000. BluePath Capital Management LLC acquired a new stake in shares of Lam Research in the third quarter worth $28,000. OFI Invest Asset Management acquired a new stake in shares of Lam Research in the third quarter worth $30,000. Asset Dedication LLC increased its stake in shares of Lam Research by 56.7% in the third 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, Valued Wealth Advisors LLC acquired a new stake in shares of Lam Research in the fourth quarter worth $30,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the topic of several recent analyst reports. 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 report on Friday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Lam Research in a report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 price objective on the stock. Barclays increased their price objective on shares of Lam Research from $750.00 to $825.00 and gave the company an “equal weight” rating in a report on Thursday, January 25th. 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 research note on Monday, January 29th. Finally, Wells Fargo & Company raised their price target on shares of Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $931.85.

Insider Buying and Selling

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Christina Corrreia sold 647 shares of the 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 completion of the sale, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the sale, 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 sold 7,029 shares of company stock worth $6,559,489 over the last 90 days. 0.32% of the stock is owned by insiders.

Lam Research Stock Up 2.2 %

Shares of LRCX stock traded up $19.35 during trading on Tuesday, reaching $887.42. The company’s stock had a trading volume of 981,354 shares, compared to its average volume of 1,057,222. 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 company has a market capitalization of $116.34 billion, a price-to-earnings ratio of 33.57, a P/E/G ratio of 3.15 and a beta of 1.51. The stock’s 50-day moving average price is $944.64 and its 200 day moving average price is $804.00. Lam Research Co. has a 1-year low of $493.42 and a 1-year high of $1,007.39.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.06 by $0.46. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The company had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the previous year, the firm earned $10.71 earnings per share. The firm’s quarterly revenue was down 28.8% on a year-over-year basis. On average, research analysts anticipate that Lam Research Co. will post 28.92 EPS for the current year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were paid a $2.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a yield of 0.90%. Lam Research’s dividend payout ratio is currently 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.