HGK Asset Management Inc. lessened its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 5.1% during the 1st quarter, HoldingsChannel reports. The fund owned 3,705 shares of the semiconductor company’s stock after selling 198 shares during the period. HGK Asset Management Inc.’s holdings in Lam Research were worth $663,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Global Retirement Partners LLC increased its position in Lam Research by 119.4% during the first quarter. Global Retirement Partners LLC now owns 147 shares of the semiconductor company’s stock worth $26,000 after buying an additional 80 shares during the period. We Are One Seven LLC acquired a new position in Lam Research during the fourth quarter worth approximately $26,000. Berman Capital Advisors LLC acquired a new position in Lam Research during the fourth quarter worth approximately $26,000. Duncker Streett & Co. Inc. increased its position in Lam Research by 100.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 200 shares of the semiconductor company’s stock worth $27,000 after buying an additional 100 shares during the period. Finally, Stevens First Principles Investment Advisors acquired a new position in Lam Research during the first quarter worth approximately $36,000. 89.70% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:LRCX opened at $194.16 on Friday. The company has a market capitalization of $29.11 billion, a PE ratio of 10.87, a P/E/G ratio of 1.13 and a beta of 1.57. The company has a current ratio of 3.37, a quick ratio of 2.79 and a debt-to-equity ratio of 0.71. Lam Research Co. has a 12-month low of $122.64 and a 12-month high of $209.50.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, April 24th. The semiconductor company reported $3.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.38 by $0.32. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. Lam Research had a return on equity of 46.66% and a net margin of 25.64%. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.79 earnings per share. Equities analysts predict that Lam Research Co. will post 14.33 earnings per share for the current year.

Lam Research announced that its board has authorized a share buyback plan on Wednesday, January 23rd that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 23% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Wednesday, June 12th will be paid a $1.10 dividend. The ex-dividend date is Tuesday, June 11th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.27%. Lam Research’s dividend payout ratio (DPR) is presently 24.62%.

In related news, insider Richard A. Gottscho sold 7,248 shares of Lam Research stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $209.26, for a total value of $1,516,716.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Patrick J. Lord sold 9,177 shares of Lam Research stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $185.00, for a total value of $1,697,745.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,125 shares of company stock worth $6,772,290. Company insiders own 0.44% of the company’s stock.

Several research firms have commented on LRCX. Zacks Investment Research lowered Lam Research from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. Mizuho reaffirmed a “buy” rating and set a $180.00 price target on shares of Lam Research in a research report on Tuesday, April 16th. Needham & Company LLC boosted their target price on Lam Research from $180.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. UBS Group boosted their target price on Lam Research from $170.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Finally, KeyCorp boosted their target price on Lam Research from $223.00 to $236.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $224.78.

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Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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