SVB Wealth LLC Cuts Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

SVB Wealth LLC decreased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,015 shares of the semiconductor company’s stock after selling 50 shares during the quarter. SVB Wealth LLC’s holdings in Lam Research were worth $1,578,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of LRCX. Orion Capital Management LLC purchased a new position in shares of Lam Research during the third quarter worth about $25,000. BluePath Capital Management LLC bought a new stake in Lam Research in the 3rd quarter worth approximately $28,000. OFI Invest Asset Management bought a new stake in Lam Research in the 3rd quarter worth approximately $30,000. Asset Dedication LLC lifted its position in Lam Research by 56.7% in the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after buying an additional 17 shares during the last quarter. Finally, Valued Wealth Advisors LLC bought a new stake in Lam Research in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling

In related news, CAO Christina Corrreia sold 647 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the sale, the chief accounting officer now owns 5,541 shares in the company, valued at $5,386,018.23. The transaction was disclosed in a document filed 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 firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the transaction, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Abhijit Y. Talwalkar sold 882 shares of the firm’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 transaction, the director now 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. Over the last 90 days, insiders sold 7,029 shares of company stock worth $6,559,489. 0.32% of the stock is owned by corporate insiders.

Lam Research Stock Down 2.6 %

NASDAQ LRCX opened at $888.92 on Friday. The stock’s 50-day moving average price is $946.27 and its 200-day moving average price is $798.17. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61. Lam Research Co. has a 52 week low of $482.74 and a 52 week high of $1,007.39. The company has a market capitalization of $116.54 billion, a P/E ratio of 34.37, a price-to-earnings-growth ratio of 3.30 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, topping the consensus estimate of $7.06 by $0.46. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The firm had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter last year, the company earned $10.71 earnings per share. The business’s revenue for the quarter was down 28.8% compared to the same quarter last year. On average, equities research analysts predict that Lam Research Co. will post 28.9 earnings per share for the current year.

Lam Research Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Barclays boosted their target price on Lam Research from $750.00 to $825.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 25th. The Goldman Sachs Group boosted their target price on Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Cantor Fitzgerald boosted their target price on Lam Research from $900.00 to $1,100.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Needham & Company LLC boosted their price objective on Lam Research from $900.00 to $1,030.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Citigroup boosted their price objective on Lam Research from $800.00 to $975.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $881.45.

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.