Lam Research Co. (NASDAQ:LRCX) Stake Decreased by Malaga Cove Capital LLC

Malaga Cove Capital LLC cut its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 15.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,362 shares of the semiconductor company’s stock after selling 800 shares during the period. Lam Research makes up about 1.4% of Malaga Cove Capital LLC’s investment portfolio, making the stock its 13th largest holding. Malaga Cove Capital LLC’s holdings in Lam Research were worth $3,417,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LRCX. Fisher Asset Management LLC boosted its position in Lam Research by 3.0% during the 4th quarter. Fisher Asset Management LLC now owns 2,972,650 shares of the semiconductor company’s stock worth $2,328,358,000 after acquiring an additional 85,855 shares during the period. Morgan Stanley raised its stake in shares of Lam Research by 3.2% during the third quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock valued at $1,164,490,000 after purchasing an additional 56,824 shares in the last quarter. Northern Trust Corp lifted its holdings in Lam Research by 9.7% in the third quarter. Northern Trust Corp now owns 1,523,215 shares of the semiconductor company’s stock worth $954,705,000 after purchasing an additional 134,558 shares during the period. Van ECK Associates Corp grew its position in Lam Research by 12.3% in the 4th quarter. Van ECK Associates Corp now owns 776,885 shares of the semiconductor company’s stock valued at $608,503,000 after buying an additional 85,102 shares in the last quarter. Finally, WCM Investment Management LLC increased its stake in Lam Research by 0.6% during the 4th quarter. WCM Investment Management LLC now owns 600,594 shares of the semiconductor company’s stock valued at $474,271,000 after buying an additional 3,717 shares during the period. 84.61% of the stock is owned by institutional investors.

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was 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 directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the sale, the director now directly owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was 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 of the company’s stock, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,089 shares of company stock worth $6,614,781. 0.32% of the stock is owned by corporate insiders.

Lam Research Stock Up 2.8 %

Shares of Lam Research stock traded up $24.85 on Friday, hitting $908.53. 875,385 shares of the company traded hands, compared to its average volume of 1,105,338. The company has a market cap of $119.11 billion, a PE ratio of 33.41, a PEG ratio of 2.82 and a beta of 1.51. Lam Research Co. has a 12-month low of $507.19 and a 12-month high of $1,007.39. The company has a quick ratio of 1.84, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average price of $941.31 and a 200 day moving average price of $817.83.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.26 by $0.53. The business had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The firm’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $6.99 EPS. Sell-side analysts predict that Lam Research Co. will post 29.62 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were given a $2.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.88%. Lam Research’s dividend payout ratio is currently 29.42%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Susquehanna reduced their price target on shares of Lam Research from $880.00 to $850.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. UBS Group lifted their price target on Lam Research from $1,130.00 to $1,150.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. The Goldman Sachs Group upped their price objective on Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Barclays raised their target price on Lam Research from $825.00 to $865.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. Finally, Wells Fargo & Company boosted their price target on shares of Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $950.85.

Lam Research Company 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.