Lam Research Co. (NASDAQ:LRCX) SVP Sells $9,907,200.00 in Stock

Lam Research Co. (NASDAQ:LRCX) SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the transaction, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Lam Research Stock Performance

Shares of LRCX stock opened at $86.02 on Friday. The firm has a 50 day moving average of $78.46 and a two-hundred day moving average of $78.04. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $110.42 billion, a PE ratio of 26.13, a P/E/G ratio of 1.47 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, research analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LRCX. The Goldman Sachs Group reduced their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Wells Fargo & Company upped their price target on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Mizuho upped their price target on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $100.00 price target on shares of Lam Research in a research report on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

Institutional Trading of Lam Research

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Parisi Gray Wealth Management boosted its holdings in Lam Research by 652.9% during the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after buying an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY purchased a new stake in Lam Research during the fourth quarter worth about $815,000. Centerpoint Advisors LLC boosted its holdings in Lam Research by 900.0% during the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock worth $72,000 after buying an additional 900 shares in the last quarter. Jennison Associates LLC boosted its holdings in Lam Research by 20.0% during the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after buying an additional 39,725 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC boosted its holdings in Lam Research by 51.9% during the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after buying an additional 73,648 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.