Brighton Jones LLC Sells 94 Shares of Lam Research Co. (NASDAQ:LRCX)

Brighton Jones LLC cut its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 5.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,498 shares of the semiconductor company’s stock after selling 94 shares during the period. Brighton Jones LLC’s holdings in Lam Research were worth $1,173,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of LRCX. Orion Capital Management LLC bought a new position in Lam Research in the 3rd quarter valued at $25,000. BluePath Capital Management LLC acquired a new stake in shares of Lam Research in the 3rd quarter valued at about $28,000. OFI Invest Asset Management acquired a new stake in shares of Lam Research in the 3rd quarter valued at about $30,000. Asset Dedication LLC raised its stake 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 purchasing an additional 17 shares during the period. Finally, Valued Wealth Advisors LLC bought a new position in shares of Lam Research in the 4th quarter valued at about $30,000. 84.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LRCX shares. B. Riley upgraded Lam Research from a “neutral” rating to a “buy” rating and raised their price objective for the company from $870.00 to $1,100.00 in a report on Friday, April 19th. The Goldman Sachs Group raised their price objective on Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a report on Thursday, January 25th. TD Cowen raised their price objective on Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Citigroup raised their price objective on Lam Research from $975.00 to $1,025.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Finally, StockNews.com raised Lam Research from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $950.85.

Insiders Place Their Bets

In other Lam Research news, EVP Patrick J. Lord sold 60 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $921.54, for a total value of $55,292.40. Following the sale, the executive vice president now owns 4,454 shares in the company, valued at $4,104,539.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were 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 directly owns 22,095 shares in the company, valued at $20,380,648.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Patrick J. Lord sold 60 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $921.54, for a total transaction of $55,292.40. Following the completion of the transaction, the executive vice president now owns 4,454 shares in the company, valued at $4,104,539.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,089 shares of company stock worth $6,614,781. 0.32% of the stock is currently owned by company insiders.

Lam Research Stock Performance

NASDAQ LRCX opened at $894.41 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.84 and a current ratio of 2.82. The company has a market capitalization of $117.26 billion, a P/E ratio of 32.89, a P/E/G ratio of 2.88 and a beta of 1.51. The company has a fifty day moving average of $943.60 and a 200-day moving average of $815.20. Lam Research Co. has a 52-week low of $507.19 and a 52-week high of $1,007.39.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, beating the consensus estimate of $7.26 by $0.53. The firm 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 25.35% and a return on equity of 45.96%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.99 earnings per share. As a group, equities research analysts predict that Lam Research Co. will post 29.62 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 issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is presently 29.42%.

About Lam Research

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.