Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 307 Shares of Lam Research Co. (NASDAQ:LRCX)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lessened its position in shares of Lam Research Co. (NASDAQ:LRCX) by 4.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,998 shares of the semiconductor company’s stock after selling 307 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Lam Research were worth $4,698,000 at the end of the most recent reporting period.

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

Lam Research Stock Down 1.0 %

Lam Research stock traded down $9.63 during mid-day trading on Tuesday, reaching $914.91. The stock had a trading volume of 674,631 shares, compared to its average volume of 1,059,255. The firm has a market capitalization of $119.62 billion, a PE ratio of 33.65, a price-to-earnings-growth ratio of 2.82 and a beta of 1.51. Lam Research Co. has a fifty-two week low of $512.09 and a fifty-two week high of $1,007.39. The stock’s 50-day simple moving average is $940.71 and its 200-day simple moving average is $824.74. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.84 and a current ratio of 2.82.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, topping the consensus estimate 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 in the prior year, the firm earned $6.99 earnings per share. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, sell-side analysts forecast that Lam Research Co. will post 29.62 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s payout ratio is 29.42%.

Insider Activity

In other Lam Research 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 value of $5,073,255.00. Following the completion of the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Lam Research news, insider George M. Schisler sold 400 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $908.21, for a total transaction of $363,284.00. Following the completion of the sale, the insider now directly owns 5,661 shares of the company’s stock, valued at $5,141,376.81. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock worth $6,978,065 over the last 90 days. 0.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on LRCX shares. Raymond James lifted their price objective on shares of Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Needham & Company LLC restated a “buy” rating and issued a $1,030.00 price target on shares of Lam Research in a research report on Thursday, April 25th. UBS Group upped their price objective on Lam Research from $1,130.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Evercore ISI assumed coverage on shares of Lam Research in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 price objective for the company. Finally, Stifel Nicolaus increased their price target on Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $950.85.

Lam Research Company 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.