PFG Investments LLC Reduces Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

PFG Investments LLC lowered its position in Lam Research Co. (NASDAQ:LRCX) by 70.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 328 shares of the semiconductor company’s stock after selling 787 shares during the quarter. PFG Investments LLC’s holdings in Lam Research were worth $257,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. grew its holdings in shares of Lam Research by 20.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 103,003 shares of the semiconductor company’s stock valued at $80,678,000 after purchasing an additional 17,376 shares during the period. Invera Wealth Advisors LLC purchased a new stake in shares of Lam Research in the fourth quarter valued at about $1,906,000. Bill Few Associates Inc. purchased a new stake in shares of Lam Research in the fourth quarter valued at about $280,000. Simon Quick Advisors LLC acquired a new position in Lam Research in the fourth quarter valued at about $240,000. Finally, Kingswood Wealth Advisors LLC boosted its stake in Lam Research by 77.4% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 715 shares of the semiconductor company’s stock worth $560,000 after buying an additional 312 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Needham & Company LLC lifted their price target on shares of Lam Research from $800.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Cantor Fitzgerald reiterated a “neutral” rating and set a $900.00 price target on shares of Lam Research in a research report on Monday, March 4th. Morgan Stanley cut shares of Lam Research from an “overweight” rating to an “equal weight” rating and set a $720.00 price target for the company. in a research report on Friday, December 8th. Stifel Nicolaus lifted their price target on shares of Lam Research from $850.00 to $950.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, Barclays lifted their price target on shares of Lam Research from $750.00 to $825.00 and gave the company an “equal weight” rating in a research report on Thursday, January 25th. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and an average target price of $811.68.

Lam Research Trading Up 0.6 %

Shares of NASDAQ:LRCX opened at $971.57 on Friday. Lam Research Co. has a 52 week low of $480.45 and a 52 week high of $1,007.39. The company’s 50 day moving average is $907.49 and its two-hundred day moving average is $762.59. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. The company has a market cap of $127.37 billion, a PE ratio of 37.57, a P/E/G ratio of 3.44 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last issued its earnings results 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. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The business had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter in the prior year, the business posted $10.71 EPS. The company’s revenue for the quarter was down 28.8% on a year-over-year basis. Equities analysts predict that Lam Research Co. will post 28.88 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Tuesday, March 12th. Lam Research’s payout ratio is 30.94%.

Insider Activity

In other news, CEO Timothy Archer sold 10,524 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $732.00, for a total value of $7,703,568.00. Following the completion of the transaction, the chief executive officer now owns 86,449 shares in the company, valued at approximately $63,280,668. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Timothy Archer sold 10,524 shares of the stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $732.00, for a total transaction of $7,703,568.00. Following the completion of the sale, the chief executive officer now owns 86,449 shares in the company, valued at approximately $63,280,668. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $768.75, for a total transaction of $678,037.50. Following the sale, the director now owns 11,604 shares of the company’s stock, valued at approximately $8,920,575. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,895 shares of company stock worth $15,666,586. Corporate insiders own 0.32% of the company’s stock.

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.