Amalgamated Bank Reduces Stake in Lam Research Co. (NASDAQ:LRCX)

Amalgamated Bank lessened its stake in Lam Research Co. (NASDAQ:LRCX) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,669 shares of the semiconductor company’s stock after selling 2,184 shares during the period. Amalgamated Bank’s holdings in Lam Research were worth $27,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Orion Capital Management LLC purchased a new position in shares of Lam Research during the 3rd quarter worth approximately $25,000. BluePath Capital Management LLC purchased a new stake in shares of Lam Research in the third quarter valued at $28,000. OFI Invest Asset Management purchased a new position in shares of Lam Research during the 3rd quarter worth about $30,000. Asset Dedication LLC raised its stake in Lam Research by 56.7% during 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 during the period. Finally, Valued Wealth Advisors LLC purchased a new position in shares of Lam Research in the 4th quarter worth $30,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction 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 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 the SEC website. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s 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 completion of the transaction, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction dated Monday, April 1st. The stock was 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 in the company, valued at $10,246,168.23. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,089 shares of company stock worth $6,614,781. Insiders own 0.32% of the company’s stock.

Lam Research Stock Up 1.8 %

Shares of LRCX stock traded up $15.58 on Thursday, hitting $883.68. The company’s stock had a trading volume of 703,461 shares, compared to its average volume of 1,069,237. The stock has a market capitalization of $115.85 billion, a price-to-earnings ratio of 31.93, a P/E/G ratio of 2.78 and a beta of 1.51. Lam Research Co. has a fifty-two week low of $507.19 and a fifty-two week high of $1,007.39. The firm’s fifty day moving average price is $942.92 and its 200-day moving average price is $815.57. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the company earned $6.99 earnings per share. The business’s revenue 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 year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders 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 0.91%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s dividend payout ratio is 29.42%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LRCX. Needham & Company LLC restated a “buy” rating and issued a $1,030.00 price target on shares of Lam Research in a report on Thursday, April 25th. Stifel Nicolaus increased their target price on Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. B. Riley upgraded Lam Research from a “neutral” rating to a “buy” rating and raised their target price for the company from $870.00 to $1,100.00 in a research report on Friday, April 19th. JPMorgan Chase & Co. boosted their price target on shares of Lam Research from $900.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Lam Research in a research report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average target price of $950.85.

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.