Meridian Wealth Management LLC Sells 730 Shares of Lam Research Co. (NASDAQ:LRCX)

Meridian Wealth Management LLC cut its position in Lam Research Co. (NASDAQ:LRCXFree Report) by 45.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 890 shares of the semiconductor company’s stock after selling 730 shares during the quarter. Meridian Wealth Management LLC’s holdings in Lam Research were worth $697,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LRCX. Panagora Asset Management Inc. raised its holdings in shares of Lam Research by 21.0% in the 3rd quarter. Panagora Asset Management Inc. now owns 6,548 shares of the semiconductor company’s stock valued at $4,104,000 after purchasing an additional 1,135 shares during the period. Allworth Financial LP lifted its position in shares of Lam Research by 5.0% in the third quarter. Allworth Financial LP now owns 1,639 shares of the semiconductor company’s stock valued at $1,027,000 after buying an additional 78 shares during the last quarter. FDx Advisors Inc. boosted its stake in shares of Lam Research by 14.6% during the 3rd quarter. FDx Advisors Inc. now owns 1,088 shares of the semiconductor company’s stock worth $682,000 after acquiring an additional 139 shares during the period. OFI Invest Asset Management acquired a new position in shares of Lam Research during the 3rd quarter worth approximately $30,000. Finally, Cypress Capital Group raised its stake in Lam Research by 11.9% in the 3rd quarter. Cypress Capital Group now owns 2,667 shares of the semiconductor company’s stock valued at $1,671,000 after acquiring an additional 283 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Stock Performance

NASDAQ LRCX opened at $912.07 on Friday. The firm’s 50 day simple moving average is $933.49 and its 200 day simple moving average is $839.78. The firm has a market capitalization of $119.24 billion, a price-to-earnings ratio of 33.54, a P/E/G ratio of 2.92 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. Lam Research Co. has a 1 year low of $559.41 and a 1 year high of $1,007.39.

Lam Research (NASDAQ:LRCXGet Free Report) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the business posted $6.99 EPS. The company’s revenue was down 2.0% compared to the same quarter last year. As a group, research analysts expect that Lam Research Co. will post 29.67 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Tuesday, June 18th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.88%. Lam Research’s dividend payout ratio (DPR) is currently 29.42%.

Insider Activity

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research 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 sale, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of the company’s 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 $857,330.46. Following the completion of the transaction, the director now directly owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,489 shares of company stock worth $6,978,065. Corporate insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the topic of several research reports. Evercore ISI began coverage on shares of Lam Research in a report on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 price objective on the stock. Barclays upped their price target on shares of Lam Research from $825.00 to $865.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. Jefferies Financial Group started coverage on shares of Lam Research in a research report on Monday, May 13th. They set a “buy” rating and a $1,100.00 price objective for the company. Deutsche Bank Aktiengesellschaft began coverage on Lam Research in a report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 price objective for the company. Finally, Mizuho increased their target price on Lam Research from $935.00 to $960.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $957.95.

Read Our Latest Analysis on LRCX

About Lam Research

(Free Report)

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.

See Also

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

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