First Trust Direct Indexing L.P. Has $2.48 Million Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

First Trust Direct Indexing L.P. grew its holdings in Lam Research Co. (NASDAQ:LRCX) by 22.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,164 shares of the semiconductor company’s stock after buying an additional 581 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Lam Research were worth $2,478,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in LRCX. Blue Whale Capital LLP grew its holdings in Lam Research by 0.7% during the 3rd quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock worth $70,386,000 after acquiring an additional 800 shares during the last quarter. Citizens Financial Group Inc. RI raised its holdings in Lam Research by 20.9% during the 4th quarter. Citizens Financial Group Inc. RI now owns 491 shares of the semiconductor company’s stock worth $384,000 after buying an additional 85 shares during the period. Everence Capital Management Inc. raised its holdings in shares of Lam Research by 54.7% in the fourth quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock valued at $3,190,000 after purchasing an additional 1,440 shares during the last quarter. Gradient Investments LLC raised its holdings in shares of Lam Research by 32,411.1% in the fourth quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock valued at $11,459,000 after purchasing an additional 14,585 shares during the last quarter. Finally, Contravisory Investment Management Inc. acquired a new stake in shares of Lam Research in the fourth quarter valued at approximately $7,930,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Down 0.6 %

NASDAQ LRCX traded down $5.04 during trading hours on Thursday, hitting $863.06. The company’s stock had a trading volume of 74,069 shares, compared to its average volume of 1,061,534. Lam Research Co. has a 52 week low of $507.19 and a 52 week high of $1,007.39. The company has a market capitalization of $113.15 billion, a PE ratio of 31.93, a price-to-earnings-growth ratio of 2.78 and a beta of 1.51. The company has a current ratio of 2.82, a quick ratio of 1.84 and a debt-to-equity ratio of 0.56. The company’s 50-day simple moving average is $942.92 and its two-hundred day simple moving average is $815.57.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, beating the consensus estimate of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The business had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter last year, the firm earned $6.99 EPS. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. Research analysts anticipate that Lam Research Co. will post 29.62 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were given a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.93%. Lam Research’s payout ratio is 29.42%.

Wall Street Analyst Weigh In

LRCX has been the subject of several analyst reports. Citigroup raised their target price on shares of Lam Research from $975.00 to $1,025.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. The Goldman Sachs Group upped their target price on Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Susquehanna cut their target price on Lam Research from $880.00 to $850.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Raymond James increased their price target on Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, JPMorgan Chase & Co. raised their target price on Lam Research from $900.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $950.85.

Insider Activity at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction that occurred on 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 owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the sale, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction that occurred 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 directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,089 shares of company stock valued at $6,614,781. 0.32% of the stock is owned by corporate insiders.

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.