Bailard Inc. Increases Position in Lam Research Co. (NASDAQ:LRCX)

Bailard Inc. raised its position in Lam Research Co. (NASDAQ:LRCX) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,658 shares of the semiconductor company’s stock after purchasing an additional 221 shares during the period. Bailard Inc.’s holdings in Lam Research were worth $6,781,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Orion Capital Management LLC acquired a new position in shares of Lam Research in the 3rd quarter valued at $25,000. BluePath Capital Management LLC acquired a new position in shares of Lam Research in the 3rd quarter valued at $28,000. OFI Invest Asset Management acquired a new position in shares of Lam Research in the 3rd quarter valued at $30,000. Asset Dedication LLC boosted its holdings in shares of Lam Research by 56.7% in the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 17 shares in the last quarter. Finally, Valued Wealth Advisors LLC acquired a new position in shares of Lam Research in the 4th quarter valued at $30,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on LRCX shares. Cantor Fitzgerald restated a “neutral” rating and issued a $1,100.00 target price on shares of Lam Research in a report on Thursday. The Goldman Sachs Group increased their price target on shares of Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Needham & Company LLC reiterated a “buy” rating and set a $1,030.00 price target on shares of Lam Research in a research note on Thursday. UBS Group increased their price target on shares of Lam Research from $1,130.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Mizuho increased their price target on shares of Lam Research from $935.00 to $960.00 and gave the stock a “buy” rating in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $948.35.

Insider Activity

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction dated 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 directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction dated 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 directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the transaction, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The disclosure for this sale can be found here. Insiders sold 7,029 shares of company stock worth $6,559,489 in the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

Lam Research Price Performance

Shares of LRCX traded up $18.88 during trading hours on Thursday, reaching $903.77. The company had a trading volume of 715,151 shares, compared to its average volume of 1,063,705. The firm has a 50 day simple moving average of $943.93 and a 200-day simple moving average of $806.38. 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 capitalization of $118.48 billion, a price-to-earnings ratio of 35.20, a PEG ratio of 3.21 and a beta of 1.51. Lam Research Co. has a 12-month low of $493.42 and a 12-month high of $1,007.39.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. The business had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The business’s revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $6.99 EPS. Research analysts expect that Lam Research Co. will post 28.96 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a $2.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.89%. Lam Research’s dividend payout ratio is presently 30.94%.

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.