Townsend & Associates Inc Decreases Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Townsend & Associates Inc reduced its position in shares of Lam Research Co. (NASDAQ:LRCX) by 28.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 391 shares of the semiconductor company’s stock after selling 152 shares during the quarter. Townsend & Associates Inc’s holdings in Lam Research were worth $332,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. International Assets Investment Management LLC grew its position in shares of Lam Research by 76,165.7% during the 4th quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company’s stock worth $249,099,000 after buying an additional 317,611 shares in the last quarter. Cerity Partners LLC grew its stake in Lam Research by 1,125.6% in the fourth quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company’s stock valued at $267,984,000 after purchasing an additional 314,224 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in Lam Research by 106.5% in the third quarter. Canada Pension Plan Investment Board now owns 301,071 shares of the semiconductor company’s stock valued at $188,702,000 after purchasing an additional 155,240 shares during the last quarter. Northern Trust Corp boosted its holdings in Lam Research by 9.7% in the third quarter. Northern Trust Corp now owns 1,523,215 shares of the semiconductor company’s stock worth $954,705,000 after acquiring an additional 134,558 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Lam Research by 3.0% in the fourth quarter. Fisher Asset Management LLC now owns 2,972,650 shares of the semiconductor company’s stock worth $2,328,358,000 after acquiring an additional 85,855 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LRCX has been the subject of a number of analyst reports. UBS Group boosted their price target on Lam Research from $1,130.00 to $1,150.00 and gave the company a “buy” rating in a report on Thursday, April 25th. B. Riley raised Lam Research from a “neutral” rating to a “buy” rating and boosted their price target for the company from $870.00 to $1,100.00 in a report on Friday, April 19th. Deutsche Bank Aktiengesellschaft assumed coverage on Lam Research in a research report on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 price objective for the company. Mizuho boosted their price target on Lam Research from $935.00 to $960.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, Wells Fargo & Company boosted their price target on Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Seven equities 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $950.85.

Insiders Place Their Bets

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Lam Research news, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now 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 can be accessed through this link. Also, 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 value of $5,073,255.00. Following the sale, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,489 shares of company stock valued at $6,978,065. Insiders own 0.32% of the company’s stock.

Lam Research Stock Down 0.5 %

Shares of NASDAQ:LRCX traded down $4.53 during midday trading on Thursday, hitting $908.75. The stock had a trading volume of 188,699 shares, compared to its average volume of 1,043,919. The company has a quick ratio of 1.84, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. The business’s 50-day simple moving average is $940.71 and its 200-day simple moving average is $824.74. The company has a market cap of $118.81 billion, a P/E ratio of 33.59, a PEG ratio of 2.82 and a beta of 1.51. Lam Research Co. has a 12 month low of $520.05 and a 12 month high of $1,007.39.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. The firm had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.99 earnings per share. On average, sell-side analysts forecast that Lam Research Co. will post 29.62 earnings per share for the current fiscal year.

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.