Xponance Inc. Sells 399 Shares of Lam Research Co. (NASDAQ:LRCX)

Xponance Inc. lowered its position in shares of Lam Research Co. (NASDAQ:LRCX) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,154 shares of the semiconductor company’s stock after selling 399 shares during the quarter. Xponance Inc.’s holdings in Lam Research were worth $24,402,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in LRCX. Baird Financial Group Inc. grew its stake in shares of Lam Research by 11.5% during the first quarter. Baird Financial Group Inc. now owns 39,514 shares of the semiconductor company’s stock worth $21,243,000 after purchasing an additional 4,090 shares during the period. Zions Bancorporation N.A. grew its stake in shares of Lam Research by 39.1% during the first quarter. Zions Bancorporation N.A. now owns 281 shares of the semiconductor company’s stock worth $151,000 after purchasing an additional 79 shares during the period. Brown Brothers Harriman & Co. grew its stake in shares of Lam Research by 18.8% during the first quarter. Brown Brothers Harriman & Co. now owns 721 shares of the semiconductor company’s stock worth $388,000 after purchasing an additional 114 shares during the period. Covestor Ltd grew its stake in shares of Lam Research by 51.9% during the first quarter. Covestor Ltd now owns 322 shares of the semiconductor company’s stock worth $173,000 after purchasing an additional 110 shares during the period. Finally, Mackenzie Financial Corp grew its stake in shares of Lam Research by 11.8% during the first quarter. Mackenzie Financial Corp now owns 233,280 shares of the semiconductor company’s stock worth $125,414,000 after purchasing an additional 24,636 shares during the period. Institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on LRCX shares. Raymond James lifted their price objective on Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. UBS Group boosted their target price on Lam Research from $885.00 to $1,130.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Susquehanna boosted their target price on Lam Research from $655.00 to $880.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. The Goldman Sachs Group boosted their target price on Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Stifel Nicolaus boosted their target price on Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research note on Tuesday. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and a consensus target price of $881.45.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Christina Corrreia sold 647 shares of the company’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 $628,903.41. Following the completion of the transaction, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock worth $6,559,489 over the last 90 days. Company insiders own 0.32% of the company’s stock.

Lam Research Stock Down 2.6 %

LRCX traded down $23.34 on Thursday, hitting $888.92. 2,290,234 shares of the company were exchanged, compared to its average volume of 1,037,548. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The stock’s fifty day moving average is $945.78 and its 200-day moving average is $797.54. The company has a market cap of $116.54 billion, a PE ratio of 35.28, a PEG ratio of 3.49 and a beta of 1.51. Lam Research Co. has a 12 month low of $482.74 and a 12 month high of $1,007.39.

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

Lam Research Dividend Announcement

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

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.