Veracity Capital LLC Raises Holdings in Lam Research Co. (NASDAQ:LRCX)

Veracity Capital LLC boosted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 23.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,169 shares of the semiconductor company’s stock after buying an additional 222 shares during the quarter. Veracity Capital LLC’s holdings in Lam Research were worth $915,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. SevenBridge Financial Group LLC increased its holdings in Lam Research by 3.2% during the fourth quarter. SevenBridge Financial Group LLC now owns 3,458 shares of the semiconductor company’s stock valued at $2,709,000 after buying an additional 107 shares during the period. Chicago Capital LLC acquired a new stake in Lam Research in the fourth quarter valued at approximately $1,474,000. Miracle Mile Advisors LLC boosted its stake in Lam Research by 14.4% in the fourth quarter. Miracle Mile Advisors LLC now owns 737 shares of the semiconductor company’s stock valued at $578,000 after acquiring an additional 93 shares in the last quarter. AdvisorNet Financial Inc boosted its stake in Lam Research by 4.0% in the fourth quarter. AdvisorNet Financial Inc now owns 541 shares of the semiconductor company’s stock valued at $424,000 after acquiring an additional 21 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in Lam Research by 3.0% in the fourth quarter. Fifth Third Bancorp now owns 15,001 shares of the semiconductor company’s stock valued at $11,750,000 after acquiring an additional 433 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lam Research

In other Lam Research 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 value of $5,073,255.00. Following the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lam Research 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 value of $5,073,255.00. Following the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $768.75, for a total transaction of $497,381.25. Following the completion of the transaction, the chief accounting officer now owns 5,492 shares in the company, valued at $4,221,975. The disclosure for this sale can be found here. Insiders have sold 19,895 shares of company stock worth $15,666,586 in the last ninety days. 0.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

LRCX has been the subject of several research reports. Mizuho lifted their price objective on shares of Lam Research from $900.00 to $935.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Needham & Company LLC raised their target price on shares of Lam Research from $800.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Stifel Nicolaus raised their target price on shares of Lam Research from $850.00 to $950.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. 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. Finally, Citigroup raised their target price on shares of Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Eight research 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 company has an average rating of “Moderate Buy” and an average target price of $811.68.

Lam Research Price Performance

Shares of LRCX stock traded up $10.81 on Monday, reaching $982.38. 159,471 shares of the company were exchanged, compared to its average volume of 1,058,639. The company has a market cap of $128.79 billion, a price-to-earnings ratio of 37.57, a P/E/G ratio of 3.46 and a beta of 1.51. The business has a 50-day moving average price of $914.11 and a 200 day moving average price of $766.98. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. Lam Research Co. has a 1 year low of $480.45 and a 1 year high of $1,007.39.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, topping analysts’ consensus estimates of $7.06 by $0.46. The firm had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. Lam Research’s quarterly revenue was down 28.8% on a year-over-year basis. During the same period in the previous year, the business posted $10.71 earnings per share. Equities research analysts forecast that Lam Research Co. will post 28.88 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 0.81%. Lam Research’s payout ratio is presently 30.94%.

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.