Lam Research Co. (NASDAQ:LRCX) Stock Position Reduced by Terra Nova Asset Management LLC

Terra Nova Asset Management LLC lowered its stake in Lam Research Co. (NASDAQ:LRCX) by 2.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,410 shares of the semiconductor company’s stock after selling 119 shares during the quarter. Lam Research comprises approximately 3.0% of Terra Nova Asset Management LLC’s holdings, making the stock its 5th largest holding. Terra Nova Asset Management LLC’s holdings in Lam Research were worth $3,454,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Blue Whale Capital LLP raised its position in shares of Lam Research by 0.7% during the 3rd quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock valued at $70,386,000 after buying an additional 800 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in Lam Research during the 4th quarter valued at about $7,930,000. Treasurer of the State of North Carolina grew its holdings in Lam Research by 0.9% during the 3rd quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock valued at $39,994,000 after purchasing an additional 560 shares during the last quarter. DNB Asset Management AS grew its holdings in Lam Research by 13.6% during the 4th quarter. DNB Asset Management AS now owns 41,100 shares of the semiconductor company’s stock valued at $32,192,000 after purchasing an additional 4,910 shares during the last quarter. Finally, Raymond James Trust N.A. grew its holdings in Lam Research by 15.8% during the 4th quarter. Raymond James Trust N.A. now owns 9,762 shares of the semiconductor company’s stock valued at $7,646,000 after purchasing an additional 1,333 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Ava Hahn sold 2,342 shares of Lam Research stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $732.00, for a total value of $1,714,344.00. Following the completion of the transaction, the senior vice president now owns 3,433 shares of the company’s stock, valued at $2,512,956. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’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 sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Ava Hahn sold 2,342 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $732.00, for a total transaction of $1,714,344.00. Following the sale, the senior vice president now directly owns 3,433 shares of the company’s stock, valued at approximately $2,512,956. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,895 shares of company stock valued at $15,666,586. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on LRCX shares. Mizuho upped their price target on shares of Lam Research from $900.00 to $935.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Needham & Company LLC upped their target price on shares of Lam Research from $800.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Susquehanna upped their target price on shares of Lam Research from $655.00 to $880.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Citigroup upped their target price on shares of Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, TD Cowen upped their target price on shares of Lam Research from $710.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $811.68.

Lam Research Trading Up 0.6 %

NASDAQ LRCX opened at $971.57 on Friday. The company has a fifty day simple moving average of $907.49 and a two-hundred day simple moving average of $762.59. The stock has a market cap of $127.37 billion, a P/E ratio of 37.57, a P/E/G ratio of 3.44 and a beta of 1.51. Lam Research Co. has a 12-month low of $480.45 and a 12-month high of $1,007.39. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.06 by $0.46. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter last year, the company posted $10.71 earnings per share. The firm’s revenue was down 28.8% compared to the same quarter last year. On average, analysts forecast that Lam Research Co. will post 28.88 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th will be given a dividend of $2.00 per share. The ex-dividend date is Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.82%. Lam Research’s dividend payout ratio is presently 30.94%.

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.