Weatherly Asset Management L. P. Sells 34 Shares of Lam Research Co. (NASDAQ:LRCX)

Weatherly Asset Management L. P. decreased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,040 shares of the semiconductor company’s stock after selling 34 shares during the period. Weatherly Asset Management L. P.’s holdings in Lam Research were worth $1,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Morgan Stanley grew its position in shares of Lam Research by 3.2% during the 3rd quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock valued at $1,164,490,000 after acquiring an additional 56,824 shares during the period. Bank of New York Mellon Corp grew its position 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 valued at $1,029,386,000 after acquiring an additional 159,815 shares during the period. Northern Trust Corp grew its position 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 valued at $954,705,000 after acquiring an additional 134,558 shares during the period. WCM Investment Management LLC grew its position in shares of Lam Research by 0.6% during the 4th quarter. WCM Investment Management LLC now owns 600,594 shares of the semiconductor company’s stock valued at $474,271,000 after acquiring an additional 3,717 shares during the period. Finally, Nordea Investment Management AB lifted its stake in shares of Lam Research by 12.0% during the 4th quarter. Nordea Investment Management AB now owns 453,787 shares of the semiconductor company’s stock valued at $355,025,000 after buying an additional 48,482 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of Lam Research stock traded up $19.35 during trading hours on Tuesday, reaching $887.42. The company’s stock had a trading volume of 981,354 shares, compared to its average volume of 1,057,222. The firm has a 50 day moving average price of $944.64 and a 200-day moving average price of $804.00. Lam Research Co. has a one year low of $493.42 and a one year high of $1,007.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. The stock has a market cap of $116.34 billion, a P/E ratio of 33.57, a P/E/G ratio of 3.15 and a beta of 1.51.

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

Lam Research Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LRCX shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Lam Research in a research note on Thursday, April 11th. They set a “hold” rating and a $1,000.00 target price on the stock. Evercore ISI started coverage on shares of Lam Research in a research note on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 target price on the stock. B. Riley upgraded shares of Lam Research from a “neutral” rating to a “buy” rating and lifted their target price for the company from $870.00 to $1,100.00 in a research note on Friday. TD Cowen lifted their target price on shares of Lam Research from $710.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, Stifel Nicolaus lifted their target price on shares of Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $931.85.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lam Research news, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the transaction, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction dated 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 transaction, 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 ninety days, insiders have sold 7,029 shares of company stock worth $6,559,489. Insiders own 0.32% of the company’s stock.

Lam Research 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.