Federated Hermes Inc. Has $42.26 Million Position in Lam Research Co. (NASDAQ:LRCX)

Federated Hermes Inc. lessened its holdings in Lam Research Co. (NASDAQ:LRCX) by 12.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,958 shares of the semiconductor company’s stock after selling 7,396 shares during the period. Federated Hermes Inc.’s holdings in Lam Research were worth $42,263,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of LRCX. Valued Wealth Advisors LLC acquired a new stake in Lam Research during the 4th quarter worth about $30,000. Orion Capital Management LLC purchased a new stake in shares of Lam Research in the third quarter worth approximately $25,000. BluePath Capital Management LLC acquired a new stake in shares of Lam Research during the third quarter worth approximately $28,000. Asset Dedication LLC boosted its holdings in shares of 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 purchasing an additional 17 shares during the period. Finally, Rakuten Securities Inc. purchased a new position in Lam Research during the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Citigroup increased their target price on shares of Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. TD Cowen raised 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. Susquehanna boosted their target price on shares of Lam Research from $655.00 to $880.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Evercore ISI started coverage on shares of Lam Research in a research note on Tuesday. They set an “outperform” rating and a $1,200.00 target price for the company. Finally, Mizuho raised their price target on shares of Lam Research from $900.00 to $935.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and a consensus target price of $899.64.

Insider Buying and Selling at Lam Research

In related 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 transaction, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Abhijit Y. Talwalkar sold 882 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 value of $857,330.46. Following the completion of the transaction, the director now directly owns 10,541 shares in the company, valued at approximately $10,246,168.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s 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 owns 22,095 shares in the company, valued at $20,380,648.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,029 shares of company stock worth $6,559,489. Insiders own 0.32% of the company’s stock.

Lam Research Trading Down 2.1 %

Shares of LRCX opened at $870.25 on Friday. The stock’s fifty day simple moving average is $945.44 and its 200-day simple moving average is $799.83. The firm has a market capitalization of $114.09 billion, a PE ratio of 33.65, a price-to-earnings-growth ratio of 3.22 and a beta of 1.51. Lam Research Co. has a 12-month low of $493.42 and a 12-month high of $1,007.39. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share 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 during the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the previous year, the business posted $10.71 EPS. The company’s quarterly revenue was down 28.8% compared to the same quarter last year. As a group, research analysts predict that Lam Research Co. will post 28.92 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were paid a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a yield of 0.92%. Lam Research’s payout ratio is presently 30.94%.

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.