Lam Research Co. (NASDAQ:LRCX) Shares Sold by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. lowered its holdings in Lam Research Co. (NASDAQ:LRCX) by 7.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,747 shares of the semiconductor company’s stock after selling 223 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Lam Research were worth $2,151,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. International Assets Investment Management LLC increased its position in shares of Lam Research by 76,165.7% in the fourth quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company’s stock worth $249,099,000 after acquiring an additional 317,611 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Lam Research by 1,125.6% during the 4th quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company’s stock worth $267,984,000 after acquiring an additional 314,224 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Lam Research by 10.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock worth $1,029,386,000 after acquiring an additional 159,815 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Lam Research by 106.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 301,071 shares of the semiconductor company’s stock worth $188,702,000 after acquiring an additional 155,240 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Lam Research by 9.7% during the 3rd quarter. Northern Trust Corp now owns 1,523,215 shares of the semiconductor company’s stock worth $954,705,000 after acquiring an additional 134,558 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Trading Up 2.2 %

LRCX traded up $19.35 during trading on Tuesday, hitting $887.42. The company’s stock had a trading volume of 981,354 shares, compared to its average volume of 1,057,222. Lam Research Co. has a twelve month low of $493.42 and a twelve 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. The stock’s fifty day moving average price is $944.64 and its 200-day moving average price is $804.00. The firm has a market capitalization of $116.34 billion, a P/E ratio of 33.57, a PEG ratio of 3.15 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, beating the consensus estimate of $7.06 by $0.46. The firm had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.71 billion. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The company’s quarterly revenue was down 28.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $10.71 earnings per share. Analysts anticipate that Lam Research Co. will post 28.92 EPS for the current year.

Lam Research Dividend Announcement

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

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction 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 completion of the sale, 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 Securities & Exchange Commission, which is available at this link. In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction 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 transaction, the director now owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Insiders sold a total of 7,029 shares of company stock worth $6,559,489 over the last quarter. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. TD Cowen raised their price target on Lam Research from $710.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Stifel Nicolaus increased their price objective on Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. The Goldman Sachs Group increased their price objective on Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Citigroup increased their price objective on Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Finally, Raymond James increased their price objective on Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $931.85.

About Lam Research

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.