Lam Research Co. (NASDAQ:LRCX) Shares Sold by SVB Wealth LLC

SVB Wealth LLC lessened its stake in Lam Research Co. (NASDAQ:LRCX) by 2.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,015 shares of the semiconductor company’s stock after selling 50 shares during the period. SVB Wealth LLC’s holdings in Lam Research were worth $1,578,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in Lam Research during the third quarter worth $25,000. BluePath Capital Management LLC acquired a new stake in Lam Research during the third quarter worth $28,000. OFI Invest Asset Management acquired a new stake in Lam Research during the third quarter worth $30,000. Asset Dedication LLC increased its stake in Lam Research by 56.7% during 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 last quarter. Finally, Valued Wealth Advisors LLC acquired a new stake in Lam Research during the fourth quarter worth $30,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. UBS Group raised their target price on Lam Research from $885.00 to $1,130.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Evercore ISI started coverage on Lam Research in a research note on Tuesday. They issued an “outperform” rating and a $1,200.00 price objective for the company. Needham & Company LLC lifted their price objective on Lam Research from $900.00 to $1,030.00 and gave the company a “buy” rating in a research note on Thursday. TD Cowen lifted their price objective on Lam Research from $710.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, Cantor Fitzgerald lifted their price objective on Lam Research from $900.00 to $1,100.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $881.45.

Insider Transactions at Lam Research

In other news, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction dated Monday, April 1st. The stock was 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 $5,386,018.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction dated Monday, April 1st. The stock was 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 $5,386,018.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research 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 sale, the director now owns 10,541 shares in the company, valued at approximately $10,246,168.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,029 shares of company stock worth $6,559,489. Corporate insiders own 0.32% of the company’s stock.

Lam Research Stock Down 2.6 %

Shares of NASDAQ LRCX opened at $888.92 on Friday. The company has a market capitalization of $116.54 billion, a price-to-earnings ratio of 34.37, a price-to-earnings-growth ratio of 3.30 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 has a 50-day moving average of $946.27 and a two-hundred day moving average of $798.17. Lam Research Co. has a 1 year low of $482.74 and a 1 year high of $1,007.39.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, topping analysts’ consensus estimates of $7.06 by $0.46. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The business had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter in the previous year, the firm earned $10.71 earnings per share. The business’s revenue was down 28.8% compared to the same quarter last year. On average, analysts forecast that Lam Research Co. will post 28.9 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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

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.