Knowledge Leaders Capital LLC Reduces Stock Position in Lam Research Co. (NASDAQ:LRCX)

Knowledge Leaders Capital LLC lowered its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,551 shares of the semiconductor company’s stock after selling 50 shares during the period. Lam Research accounts for approximately 1.9% of Knowledge Leaders Capital LLC’s portfolio, making the stock its 23rd largest holding. Knowledge Leaders Capital LLC’s holdings in Lam Research were worth $1,215,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Capital Investment Advisors LLC purchased a new stake in shares of Lam Research in the third quarter worth $410,000. Meridian Wealth Management LLC raised its position in shares of Lam Research by 93.3% in the third quarter. Meridian Wealth Management LLC now owns 1,620 shares of the semiconductor company’s stock worth $1,016,000 after buying an additional 782 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of Lam Research by 28.8% in the third quarter. Exchange Traded Concepts LLC now owns 2,458 shares of the semiconductor company’s stock worth $1,541,000 after buying an additional 549 shares in the last quarter. Strategic Blueprint LLC raised its position in shares of Lam Research by 18.2% in the third quarter. Strategic Blueprint LLC now owns 1,137 shares of the semiconductor company’s stock worth $713,000 after buying an additional 175 shares in the last quarter. Finally, Caprock Group LLC raised its position in shares of Lam Research by 5.7% in the third quarter. Caprock Group LLC now owns 1,825 shares of the semiconductor company’s stock worth $1,148,000 after buying an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insiders Place Their Bets

In other Lam Research news, 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 value of $628,903.41. Following the completion of the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at $5,386,018.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction 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 $5,386,018.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research 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 transaction, 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 sold 7,029 shares of company stock worth $6,559,489 over the last three months. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LRCX. Cantor Fitzgerald reiterated a “neutral” rating and issued a $1,100.00 price objective on shares of Lam Research in a research report on Thursday. Wells Fargo & Company increased their target price on Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Stifel Nicolaus increased 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, April 16th. JPMorgan Chase & Co. increased their target price on Lam Research from $900.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, TD Cowen increased their target price on Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus target price of $950.85.

Lam Research Trading Up 2.7 %

Shares of NASDAQ LRCX traded up $23.90 during trading hours on Friday, hitting $925.37. The company’s stock had a trading volume of 1,397,129 shares, compared to its average volume of 1,010,097. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.02 and a current ratio of 2.82. The stock has a market cap of $121.32 billion, a price-to-earnings ratio of 34.03, a P/E/G ratio of 3.20 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. The business has a 50-day simple moving average of $943.67 and a 200-day simple moving average of $809.10.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) 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 last year, the firm earned $6.99 earnings per share. Lam Research’s quarterly revenue was down 2.0% on a year-over-year basis. On average, analysts anticipate that Lam Research Co. will post 29.46 earnings per share 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 issued a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.86%. Lam Research’s dividend payout ratio (DPR) is presently 29.42%.

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.