Heard Capital LLC Sells 26,276 Shares of Lam Research Co. (NASDAQ:LRCX)

Heard Capital LLC lowered its position in shares of Lam Research Co. (NASDAQ:LRCX) by 19.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 111,879 shares of the semiconductor company’s stock after selling 26,276 shares during the period. Lam Research accounts for 5.5% of Heard Capital LLC’s portfolio, making the stock its 9th biggest holding. Heard Capital LLC’s holdings in Lam Research were worth $71,923,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Steward Financial Group LLC acquired a new position in shares of Lam Research during the second quarter valued at $32,000. First Manhattan CO. LLC. increased its stake in Lam Research by 117.2% during the 1st quarter. First Manhattan CO. LLC. now owns 63 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 34 shares during the period. Cornerstone Management Inc. raised its position in shares of Lam Research by 225.0% during the 1st quarter. Cornerstone Management Inc. now owns 65 shares of the semiconductor company’s stock worth $34,000 after buying an additional 45 shares in the last quarter. Chilton Capital Management LLC bought a new position in shares of Lam Research in the first quarter valued at approximately $36,000. Finally, Coppell Advisory Solutions Corp. acquired a new position in shares of Lam Research during the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 84.08% of the company’s stock.

Insider Buying and Selling

In related news, EVP Patrick J. Lord sold 2,832 shares of Lam Research stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $700.00, for a total value of $1,982,400.00. Following the transaction, the executive vice president now owns 9,892 shares in the company, valued at approximately $6,924,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lam Research news, EVP Patrick J. Lord sold 2,832 shares of Lam Research stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $700.00, for a total value of $1,982,400.00. Following the transaction, the executive vice president now directly owns 9,892 shares of the company’s stock, valued at approximately $6,924,400. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $627.75, for a total value of $553,675.50. Following the completion of the sale, the director now directly owns 12,117 shares of the company’s stock, valued at $7,606,446.75. The disclosure for this sale can be found here. In the last three months, insiders sold 7,404 shares of company stock valued at $5,057,582. Company insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Stifel Nicolaus upped their price objective on Lam Research from $725.00 to $750.00 and gave the company a “buy” rating in a report on Monday, August 28th. Raymond James assumed coverage on shares of Lam Research in a research report on Tuesday, October 17th. They set an “outperform” rating and a $725.00 price objective for the company. StockNews.com began coverage on shares of Lam Research in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Evercore ISI reduced their target price on shares of Lam Research from $750.00 to $700.00 in a report on Thursday, October 5th. Finally, Sanford C. Bernstein increased their price objective on Lam Research from $500.00 to $550.00 in a research report on Thursday, July 27th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $660.00.

Lam Research Stock Up 2.3 %

Shares of LRCX traded up $16.43 during midday trading on Monday, reaching $716.77. 415,628 shares of the stock were exchanged, compared to its average volume of 1,215,185. The company has a market cap of $94.46 billion, a price-to-earnings ratio of 23.81, a P/E/G ratio of 4.84 and a beta of 1.52. The company has a quick ratio of 1.94, a current ratio of 3.06 and a debt-to-equity ratio of 0.62. Lam Research Co. has a 12-month low of $397.06 and a 12-month high of $726.53. The firm has a 50 day simple moving average of $633.31 and a 200-day simple moving average of $633.62.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 18th. The semiconductor company reported $6.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.15 by $0.70. Lam Research had a net margin of 25.08% and a return on equity of 50.02%. The business had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.42 billion. Lam Research’s quarterly revenue was down 31.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $10.42 EPS. Research analysts forecast that Lam Research Co. will post 27.65 EPS for the current year.

Lam Research Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 13th will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.12%. This is a boost from Lam Research’s previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, December 12th. Lam Research’s payout ratio is presently 27.20%.

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.