Lam Research Co. (NASDAQ:LRCX) Shares Sold by Geneva Partners LLC

Geneva Partners LLC lessened its holdings in Lam Research Co. (NASDAQ:LRCX) by 46.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,200 shares of the semiconductor company’s stock after selling 1,024 shares during the period. Geneva Partners LLC’s holdings in Lam Research were worth $940,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Blue Whale Capital LLP raised its stake in shares of Lam Research by 0.7% during the 3rd quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock worth $70,386,000 after buying an additional 800 shares during the period. Everence Capital Management Inc. lifted its holdings in Lam Research by 54.7% during the fourth quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock valued at $3,190,000 after purchasing an additional 1,440 shares in the last quarter. Gradient Investments LLC grew its position in shares of Lam Research by 32,411.1% in the fourth quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock valued at $11,459,000 after purchasing an additional 14,585 shares during the period. Contravisory Investment Management Inc. purchased a new stake in shares of Lam Research during the fourth quarter worth about $7,930,000. Finally, Treasurer of the State of North Carolina raised its position in shares of Lam Research by 0.9% during the 3rd quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock worth $39,994,000 after purchasing an additional 560 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Down 2.1 %

LRCX traded down $18.67 on Friday, hitting $870.25. 1,353,169 shares of the company were exchanged, compared to its average volume of 1,047,720. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. Lam Research Co. has a twelve month low of $493.42 and a twelve month high of $1,007.39. The company has a market cap of $114.09 billion, a price-to-earnings ratio of 33.65, a price-to-earnings-growth ratio of 3.30 and a beta of 1.51. The firm has a 50-day moving average price of $945.44 and a two-hundred day moving average price of $799.83.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, beating the consensus estimate of $7.06 by $0.46. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The firm had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the prior year, the company posted $10.71 earnings per share. Lam Research’s revenue for the quarter was down 28.8% compared to the same quarter last year. On average, equities analysts predict that Lam Research Co. will post 28.9 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were paid a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.92%. Lam Research’s dividend payout ratio is currently 30.94%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group lifted their price objective on Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Evercore ISI started coverage on Lam Research in a research report on Tuesday. They set an “outperform” rating and a $1,200.00 price target for the company. Citigroup raised their price objective on Lam Research from $800.00 to $975.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Cantor Fitzgerald upped their target price on shares of Lam Research from $900.00 to $1,100.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, UBS Group increased their target price on shares of Lam Research from $885.00 to $1,130.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $899.64.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction on 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 transaction, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’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 transaction of $5,073,255.00. Following the transaction, the senior vice president now 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 available at this link. Also, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of the sale, the director now owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,029 shares of company stock valued at $6,559,489. 0.32% of the stock is owned by corporate 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.