Lam Research (LRCX) Position Reduced by CCM Investment Advisers LLC

CCM Investment Advisers LLC reduced its stake in shares of Lam Research (NASDAQ:LRCX) by 4.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,844 shares of the semiconductor company’s stock after selling 2,981 shares during the quarter. Lam Research comprises approximately 2.6% of CCM Investment Advisers LLC’s holdings, making the stock its 4th largest position. CCM Investment Advisers LLC’s holdings in Lam Research were worth $13,173,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Harvest Fund Management Co. Ltd bought a new position in shares of Lam Research in the first quarter worth $116,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Lam Research by 144.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock worth $122,000 after purchasing an additional 392 shares in the last quarter. Psagot Investment House Ltd. grew its stake in shares of Lam Research by 200.0% in the first quarter. Psagot Investment House Ltd. now owns 600 shares of the semiconductor company’s stock worth $122,000 after purchasing an additional 400 shares in the last quarter. Field & Main Bank grew its stake in shares of Lam Research by 127.3% in the first quarter. Field & Main Bank now owns 625 shares of the semiconductor company’s stock worth $127,000 after purchasing an additional 350 shares in the last quarter. Finally, Focused Wealth Management Inc bought a new position in shares of Lam Research in the fourth quarter worth $140,000. Hedge funds and other institutional investors own 89.55% of the company’s stock.

In other news, insider Richard A. Gottscho sold 16,866 shares of the company’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $210.02, for a total transaction of $3,542,197.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Sarah A. O’dowd sold 1,835 shares of the company’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $212.64, for a total value of $390,194.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,148 shares of company stock valued at $16,952,340. 0.41% of the stock is currently owned by company insiders.

LRCX has been the subject of several recent analyst reports. BidaskClub cut Lam Research from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Mizuho initiated coverage on Lam Research in a research note on Tuesday, March 27th. They issued a “buy” rating and a $250.00 price target for the company. Zacks Investment Research raised Lam Research from a “hold” rating to a “buy” rating and set a $234.00 price target for the company in a research note on Tuesday, January 23rd. DA Davidson reaffirmed a “buy” rating and set a $235.00 target price on shares of Lam Research in a research note on Monday, January 22nd. Finally, JPMorgan Chase raised their target price on Lam Research from $230.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Two equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $257.06.

Shares of Lam Research opened at $203.33 on Friday, according to Marketbeat.com. Lam Research has a 12 month low of $202.00 and a 12 month high of $208.20. The firm has a market cap of $33.17 billion, a PE ratio of 20.37, a P/E/G ratio of 0.65 and a beta of 1.41. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.64 and a quick ratio of 2.21.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Tuesday, April 17th. The semiconductor company reported $4.79 EPS for the quarter, beating the consensus estimate of $4.38 by $0.41. Lam Research had a return on equity of 41.13% and a net margin of 18.32%. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the prior year, the business posted $3.10 earnings per share. Lam Research’s revenue was up 34.3% compared to the same quarter last year. research analysts anticipate that Lam Research will post 17.54 earnings per share for the current fiscal year.

Lam Research announced that its Board of Directors has approved a stock repurchase plan on Tuesday, March 6th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 27th. Stockholders of record on Wednesday, June 6th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.16%. This is an increase from Lam Research’s previous quarterly dividend of $0.50. Lam Research’s dividend payout ratio is currently 20.04%.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers thin film deposition products, including SABRE electrochemical deposition products for copper damascene manufacturing; ALTUS systems to deposit conformal atomic layer films for tungsten metallization applications; VECTOR plasma-enhanced chemical vapor deposition (CVD) and atomic layer deposition systems to deposit oxides, nitrides, and carbides for hardmasks, multiple patterning films, anti-reflective layers, multi-layer stack films, and diffusion barriers; and Striker atomic layer deposition systems that deliver conformal dielectric films for spacer-based patterning and liner applications in various advanced memory and logic structures.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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