Red Door Wealth Management LLC Sells 30 Shares of Lam Research Co. (NASDAQ:LRCX)

Red Door Wealth Management LLC reduced its position in shares of Lam Research Co. (NASDAQ:LRCXGet Rating) by 5.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 492 shares of the semiconductor company’s stock after selling 30 shares during the quarter. Red Door Wealth Management LLC’s holdings in Lam Research were worth $353,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its position in shares of Lam Research by 1.8% during the 4th quarter. State Street Corp now owns 5,958,050 shares of the semiconductor company’s stock valued at $4,293,537,000 after purchasing an additional 103,296 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Lam Research by 3.3% during the 4th quarter. Fisher Asset Management LLC now owns 1,802,042 shares of the semiconductor company’s stock valued at $1,295,939,000 after purchasing an additional 57,739 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Lam Research by 0.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,782,657 shares of the semiconductor company’s stock valued at $1,281,998,000 after purchasing an additional 5,996 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Lam Research by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,644,385 shares of the semiconductor company’s stock valued at $935,903,000 after purchasing an additional 21,251 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Lam Research by 1.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,192,881 shares of the semiconductor company’s stock valued at $678,929,000 after purchasing an additional 12,308 shares during the last quarter. 82.34% of the stock is owned by hedge funds and other institutional investors.

Shares of LRCX opened at $531.02 on Friday. The company has a market cap of $73.66 billion, a PE ratio of 16.60, a P/E/G ratio of 1.09 and a beta of 1.27. The business has a fifty day moving average of $493.29 and a 200 day moving average of $578.02. Lam Research Co. has a 52-week low of $442.53 and a 52-week high of $731.85. The company has a quick ratio of 2.00, a current ratio of 2.83 and a debt-to-equity ratio of 0.83.

Lam Research (NASDAQ:LRCXGet Rating) last issued its quarterly earnings results on Wednesday, April 20th. The semiconductor company reported $7.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.48 by ($0.08). Lam Research had a return on equity of 75.51% and a net margin of 27.13%. The company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the business earned $7.49 earnings per share. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, research analysts anticipate that Lam Research Co. will post 31.59 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 6th. Stockholders of record on Wednesday, June 15th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $6.00 annualized dividend and a dividend yield of 1.13%. Lam Research’s dividend payout ratio (DPR) is 18.76%.

Several equities research analysts have recently commented on the stock. Stifel Nicolaus upped their price target on shares of Lam Research from $775.00 to $837.00 in a research report on Thursday, April 7th. B. Riley reduced their target price on shares of Lam Research from $725.00 to $625.00 and set a “buy” rating for the company in a report on Monday, April 18th. Barclays reduced their target price on shares of Lam Research from $700.00 to $625.00 and set an “overweight” rating for the company in a report on Thursday, April 21st. Wells Fargo & Company reduced their target price on shares of Lam Research from $610.00 to $525.00 and set an “equal weight” rating for the company in a report on Monday, April 18th. Finally, Mizuho reduced their target price on shares of Lam Research from $725.00 to $675.00 and set a “buy” rating for the company in a report on Thursday, April 21st. Twelve research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $669.45.

In other Lam Research news, Director Catherine P. Lego bought 1,736 shares of the firm’s stock in a transaction dated Tuesday, April 26th. The stock was acquired at an average cost of $460.35 per share, for a total transaction of $799,167.60. Following the completion of the transaction, the director now owns 49,991 shares in the company, valued at $23,013,356.85. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Richard A. Gottscho sold 537 shares of the firm’s stock in a transaction on Thursday, March 3rd. The shares were sold at an average price of $560.50, for a total value of $300,988.50. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

Lam Research Profile (Get Rating)

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.

Featured Articles

Want to see what other hedge funds are holding LRCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lam Research Co. (NASDAQ:LRCXGet Rating).

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

Receive News & Ratings for Lam Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lam Research and related companies with MarketBeat.com's FREE daily email newsletter.