Transcend Capital Advisors LLC trimmed its position in Lam Research Co. (NASDAQ:LRCX – Get Rating) by 14.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 500 shares of the semiconductor company’s stock after selling 82 shares during the period. Transcend Capital Advisors LLC’s holdings in Lam Research were worth $210,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the company. Miracle Mile Advisors LLC acquired a new stake in shares of Lam Research in the fourth quarter valued at about $234,000. Values First Advisors Inc. increased its position in Lam Research by 12.7% during the fourth quarter. Values First Advisors Inc. now owns 1,320 shares of the semiconductor company’s stock worth $555,000 after buying an additional 149 shares during the last quarter. Naples Global Advisors LLC increased its position in Lam Research by 6.4% during the fourth quarter. Naples Global Advisors LLC now owns 8,298 shares of the semiconductor company’s stock worth $3,502,000 after buying an additional 498 shares during the last quarter. Ariose Capital Management Ltd acquired a new position in Lam Research during the fourth quarter worth approximately $10,527,000. Finally, Quent Capital LLC increased its position in Lam Research by 7.9% during the fourth quarter. Quent Capital LLC now owns 533 shares of the semiconductor company’s stock worth $224,000 after buying an additional 39 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors.
Insider Transactions at Lam Research
In other news, Director Abhijit Y. Talwalkar sold 880 shares of the stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $429.72, for a total transaction of $378,153.60. Following the transaction, the director now owns 14,762 shares of the company’s stock, valued at approximately $6,343,526.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.35% of the company’s stock.
Lam Research Stock Performance
Lam Research (NASDAQ:LRCX – Get Rating) last issued its quarterly earnings results on Wednesday, January 25th. The semiconductor company reported $10.71 earnings per share for the quarter, topping analysts’ consensus estimates of $9.95 by $0.76. Lam Research had a return on equity of 73.48% and a net margin of 26.91%. The firm had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.08 billion. During the same period last year, the business posted $8.53 EPS. The business’s revenue was up 24.9% compared to the same quarter last year. Sell-side analysts expect that Lam Research Co. will post 33.3 EPS for the current year.
Lam Research Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 15th will be issued a dividend of $1.725 per share. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $6.90 dividend on an annualized basis and a yield of 1.30%. Lam Research’s payout ratio is currently 18.55%.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on LRCX shares. StockNews.com initiated coverage on Lam Research in a research report on Thursday, March 16th. They set a “buy” rating on the stock. Stifel Nicolaus initiated coverage on Lam Research in a research report on Tuesday, January 17th. They issued a “hold” rating and a $495.00 target price on the stock. Barclays upped their target price on Lam Research from $300.00 to $475.00 and gave the company an “equal weight” rating in a research report on Monday, January 23rd. The Goldman Sachs Group upped their target price on Lam Research from $434.00 to $495.00 and gave the company a “buy” rating in a research report on Thursday, January 26th. Finally, B. Riley boosted their price target on Lam Research from $390.00 to $440.00 and gave the company a “neutral” rating in a research note on Monday, January 23rd. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $492.10.
About Lam Research
Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.
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