Lam Research Co. (NASDAQ:LRCX) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN cut its position in Lam Research Co. (NASDAQ:LRCX) by 2.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,644 shares of the semiconductor company’s stock after selling 45 shares during the period. OLD National Bancorp IN’s holdings in Lam Research were worth $1,288,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of LRCX. Orion Capital Management LLC acquired a new stake in shares of Lam Research during the third quarter worth about $25,000. BluePath Capital Management LLC acquired a new stake in shares of Lam Research during the third quarter worth about $28,000. OFI Invest Asset Management acquired a new stake in shares of Lam Research during the third quarter worth about $30,000. Asset Dedication LLC increased its position in shares of Lam Research by 56.7% during the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 17 shares in the last quarter. Finally, Valued Wealth Advisors LLC acquired a new position in Lam Research in the 4th quarter valued at about $30,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Performance

Shares of LRCX stock opened at $887.42 on Wednesday. The company has a market capitalization of $116.34 billion, a price-to-earnings ratio of 34.32, a PEG ratio of 3.14 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The company has a 50-day simple moving average of $944.54 and a 200 day simple moving average of $805.82. Lam Research Co. has a 52 week low of $493.42 and a 52 week high of $1,007.39.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data 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. The business had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm’s quarterly revenue was down 28.8% compared to the same quarter last year. During the same period in the prior year, the company earned $10.71 EPS. On average, sell-side analysts predict that Lam Research Co. will post 28.92 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently announced 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 0.90%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s payout ratio is 30.94%.

Analyst Ratings Changes

Several equities analysts have issued reports on LRCX shares. The Goldman Sachs Group boosted their target price on Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Stifel Nicolaus increased their price target on Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Barclays increased their price target on Lam Research from $750.00 to $825.00 and gave the company an “equal weight” rating in a report on Thursday, January 25th. Wells Fargo & Company raised their target price on shares of Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. Finally, Mizuho raised their price objective on shares of Lam Research from $900.00 to $935.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $931.85.

Insiders Place Their Bets

In other news, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the sale, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the 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 completion of the sale, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Christina Corrreia sold 647 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the sale, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock valued at $6,559,489 in the last ninety days. 0.32% of the stock is currently owned by insiders.

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.