Daiwa Securities Group Inc. Lowers Stake in Lam Research Co. (NASDAQ:LRCX)

Daiwa Securities Group Inc. lessened its holdings in Lam Research Co. (NASDAQ:LRCX) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,387 shares of the semiconductor company’s stock after selling 73 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Lam Research were worth $20,668,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Arlington Trust Co LLC increased its position in Lam Research by 7.7% during the 4th quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock valued at $143,000 after buying an additional 13 shares in the last quarter. TRUE Private Wealth Advisors increased its holdings in shares of Lam Research by 4.1% during the fourth quarter. TRUE Private Wealth Advisors now owns 378 shares of the semiconductor company’s stock valued at $296,000 after acquiring an additional 15 shares in the last quarter. KB Financial Partners LLC boosted its stake in Lam Research by 5.9% in the 2nd quarter. KB Financial Partners LLC now owns 287 shares of the semiconductor company’s stock worth $185,000 after purchasing an additional 16 shares in the last quarter. Clear Creek Financial Management LLC increased its stake in Lam Research by 1.3% during the 3rd quarter. Clear Creek Financial Management LLC now owns 1,342 shares of the semiconductor company’s stock valued at $841,000 after purchasing an additional 17 shares in the last quarter. Finally, Asset Dedication LLC lifted its stake in shares of Lam Research by 56.7% in the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after buying an additional 17 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president now directly 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 is accessible through this hyperlink. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was 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 $20,380,648.95. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of the sale, the director now directly owns 10,541 shares in the company, valued at approximately $10,246,168.23. The disclosure for this sale can be found here. Insiders have sold a total of 7,029 shares of company stock worth $6,559,489 over the last quarter. Insiders own 0.32% of the company’s stock.

Lam Research Stock Performance

LRCX opened at $903.60 on Thursday. The firm has a market cap of $118.46 billion, a P/E ratio of 35.28, a PEG ratio of 3.49 and a beta of 1.51. Lam Research Co. has a 1-year low of $482.74 and a 1-year high of $1,007.39. The company has a 50 day simple moving average of $945.78 and a two-hundred day simple moving average of $797.54. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.06 by $0.46. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The business had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the prior year, the business posted $10.71 EPS. Lam Research’s revenue for the quarter was down 28.8% compared to the same quarter last year. Equities analysts forecast that Lam Research Co. will post 28.9 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 dividend of $2.00 per share. 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 currently 30.94%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on LRCX shares. Evercore ISI initiated coverage on shares of Lam Research in a report on Tuesday. They issued an “outperform” rating and a $1,200.00 price objective for the company. Wells Fargo & Company upped their price target on Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. Stifel Nicolaus increased their price objective on Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research report on Tuesday. Barclays upped their target price on shares of Lam Research from $750.00 to $825.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. Finally, TD Cowen raised their target price on shares of Lam Research from $710.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and an average target price of $881.45.

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.