Lam Research Co. (NASDAQ:LRCX) Shares Sold by Rodgers Brothers Inc.

Rodgers Brothers Inc. lessened its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 9.0% in the first quarter, Holdings Channel.com reports. The firm owned 3,800 shares of the semiconductor company’s stock after selling 375 shares during the period. Rodgers Brothers Inc.’s holdings in Lam Research were worth $2,262,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Lam Research by 3.4% in the 1st quarter. BlackRock Inc. now owns 11,679,103 shares of the semiconductor company’s stock worth $6,951,867,000 after purchasing an additional 385,985 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Lam Research by 1.5% during the first quarter. Geode Capital Management LLC now owns 2,220,685 shares of the semiconductor company’s stock valued at $1,318,105,000 after buying an additional 32,283 shares in the last quarter. Norges Bank purchased a new position in shares of Lam Research during the fourth quarter valued at $728,936,000. Sands Capital Management LLC acquired a new stake in Lam Research during the fourth quarter valued at $658,961,000. Finally, Amundi Pioneer Asset Management Inc. boosted its position in Lam Research by 13.8% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,348,208 shares of the semiconductor company’s stock valued at $636,687,000 after purchasing an additional 163,699 shares during the last quarter. Hedge funds and other institutional investors own 82.01% of the company’s stock.

In other Lam Research news, CEO Timothy Archer sold 4,465 shares of the firm’s stock in a transaction on Monday, May 10th. The shares were sold at an average price of $621.41, for a total value of $2,774,595.65. Also, SVP Scott Gerald Meikle sold 500 shares of the firm’s stock in a transaction on Tuesday, June 15th. The stock was sold at an average price of $646.92, for a total transaction of $323,460.00. The disclosure for this sale can be found here. Insiders sold a total of 14,965 shares of company stock worth $9,519,206 over the last quarter. Corporate insiders own 0.34% of the company’s stock.

A number of analysts have weighed in on LRCX shares. UBS Group boosted their price target on Lam Research from $590.00 to $725.00 and gave the stock a “buy” rating in a research report on Thursday, April 22nd. Argus upped their price objective on Lam Research from $625.00 to $725.00 and gave the company a “buy” rating in a research note on Thursday, April 15th. Cowen boosted their target price on Lam Research from $585.00 to $700.00 and gave the stock an “outperform” rating in a report on Tuesday, April 20th. Wells Fargo & Company boosted their target price on Lam Research from $645.00 to $690.00 and gave the stock an “equal weight” rating in a report on Thursday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Lam Research from $575.00 to $680.00 and gave the stock a “hold” rating in a report on Friday, April 16th. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Lam Research has a consensus rating of “Buy” and a consensus price target of $682.86.

LRCX stock traded down $2.59 during trading on Thursday, reaching $634.66. The stock had a trading volume of 32,990 shares, compared to its average volume of 1,023,382. Lam Research Co. has a one year low of $292.28 and a one year high of $673.80. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.13 and a quick ratio of 2.43. The stock has a 50 day moving average price of $627.54. The stock has a market cap of $90.52 billion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 0.57 and a beta of 1.26.

Lam Research (NASDAQ:LRCX) last released its earnings results on Tuesday, April 20th. The semiconductor company reported $7.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $6.56 by $0.93. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a net margin of 26.07% and a return on equity of 65.20%. The company’s quarterly revenue was up 53.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.98 earnings per share. Equities research analysts anticipate that Lam Research Co. will post 26.71 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 7th. Shareholders of record on Wednesday, June 16th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.82%. The ex-dividend date was Tuesday, June 15th. Lam Research’s dividend payout ratio is presently 32.60%.

Lam Research Company Profile

Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.

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

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