Axxcess Wealth Management LLC Sells 174 Shares of Lam Research Co. (NASDAQ:LRCX)

Axxcess Wealth Management LLC cut its holdings in Lam Research Co. (NASDAQ:LRCX) by 9.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,664 shares of the semiconductor company’s stock after selling 174 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Lam Research were worth $1,303,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Fisher Asset Management LLC lifted its position in Lam Research by 3.0% in the 4th quarter. Fisher Asset Management LLC now owns 2,972,650 shares of the semiconductor company’s stock valued at $2,328,358,000 after acquiring an additional 85,855 shares in the last quarter. Morgan Stanley raised its stake in Lam Research by 3.2% during the 3rd quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock valued at $1,164,490,000 after buying an additional 56,824 shares during the last quarter. Northern Trust Corp raised its stake in Lam Research by 9.7% during the 3rd quarter. Northern Trust Corp now owns 1,523,215 shares of the semiconductor company’s stock valued at $954,705,000 after buying an additional 134,558 shares during the last quarter. Van ECK Associates Corp raised its stake in Lam Research by 12.3% during the 4th quarter. Van ECK Associates Corp now owns 776,885 shares of the semiconductor company’s stock valued at $608,503,000 after buying an additional 85,102 shares during the last quarter. Finally, WCM Investment Management LLC raised its stake in Lam Research by 0.6% during the 4th quarter. WCM Investment Management LLC now owns 600,594 shares of the semiconductor company’s stock valued at $474,271,000 after buying an additional 3,717 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Lam Research Trading Up 0.7 %

Shares of LRCX stock opened at $915.00 on Monday. Lam Research Co. has a 52-week low of $512.09 and a 52-week high of $1,007.39. 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 firm has a market capitalization of $119.63 billion, a PE ratio of 33.41, a PEG ratio of 2.82 and a beta of 1.51. The stock has a fifty day simple moving average of $941.31 and a two-hundred day simple moving average of $820.25.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The business had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the prior year, the business posted $6.99 EPS. Lam Research’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, analysts predict that Lam Research Co. will post 29.62 EPS for the current fiscal year.

Lam Research Dividend Announcement

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 dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is presently 29.42%.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the 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 owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of the transaction, the director now owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the 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 of the company’s stock, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Insiders sold 7,089 shares of company stock valued at $6,614,781 in the last 90 days. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Barclays boosted their target price on shares of Lam Research from $825.00 to $865.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. Raymond James boosted their target price on shares of Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, TD Cowen upped their price objective on Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and a consensus target price of $950.85.

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.