Lam Research Co. (NASDAQ:LRCX) Position Decreased by Aviance Capital Partners LLC

Aviance Capital Partners LLC trimmed its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,505 shares of the semiconductor company’s stock after selling 299 shares during the quarter. Lam Research accounts for about 1.6% of Aviance Capital Partners LLC’s holdings, making the stock its 9th largest position. Aviance Capital Partners LLC’s holdings in Lam Research were worth $7,445,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of LRCX. Orion Capital Management LLC purchased a new position in shares of Lam Research during the 3rd quarter valued at $25,000. BluePath Capital Management LLC purchased a new stake in Lam Research during the third quarter valued at about $28,000. OFI Invest Asset Management bought a new position in Lam Research during the third quarter worth about $30,000. Asset Dedication LLC increased its stake in shares of Lam Research by 56.7% in the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 17 shares in the last quarter. Finally, Valued Wealth Advisors LLC bought a new stake in shares of Lam Research in the fourth quarter valued at approximately $30,000. 84.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the 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 sale, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the transaction, 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 SEC, which can be accessed through this link. Also, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the sale, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The disclosure for this sale can be found here. Insiders sold 7,489 shares of company stock valued at $6,978,065 over the last three months. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on LRCX shares. Susquehanna reduced their price objective on shares of Lam Research from $880.00 to $850.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. UBS Group lifted their price target on Lam Research from $1,130.00 to $1,150.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Mizuho increased their price objective on Lam Research from $935.00 to $960.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Wells Fargo & Company increased their price target on shares of Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and an average target price of $950.85.

Lam Research Price Performance

NASDAQ LRCX traded up $16.01 during trading hours on Monday, reaching $924.54. 754,472 shares of the stock traded hands, compared to its average volume of 1,063,677. The stock has a 50 day simple moving average of $941.03 and a two-hundred day simple moving average of $822.52. Lam Research Co. has a 1 year low of $512.09 and a 1 year high of $1,007.39. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84. The company has a market cap of $120.87 billion, a price-to-earnings ratio of 34.00, a price-to-earnings-growth ratio of 2.82 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data 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 company had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same period last year, the firm posted $6.99 EPS. Lam Research’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, analysts predict that Lam Research Co. will post 29.62 EPS for the current fiscal year.

Lam Research Dividend Announcement

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 $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Tuesday, March 12th. Lam Research’s payout ratio is presently 29.42%.

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.