Aviance Capital Partners LLC trimmed its stake in shares of Lam Research Corporation (NASDAQ:LRCX – Free Report) by 2.3% in the fourth quarter, Holdings Channel reports. The fund owned 81,915 shares of the semiconductor company’s stock after selling 1,956 shares during the period. Lam Research accounts for about 1.6% of Aviance Capital Partners LLC’s portfolio, making the stock its 10th biggest position. Aviance Capital Partners LLC’s holdings in Lam Research were worth $14,022,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Traphagen Investment Advisors LLC lifted its position in Lam Research by 2.4% during the 4th quarter. Traphagen Investment Advisors LLC now owns 1,963 shares of the semiconductor company’s stock worth $336,000 after acquiring an additional 46 shares during the period. Field & Main Bank lifted its position in Lam Research by 1.1% during the 4th quarter. Field & Main Bank now owns 4,615 shares of the semiconductor company’s stock worth $790,000 after acquiring an additional 50 shares during the period. Capital Advisors Ltd. LLC lifted its position in Lam Research by 1.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 4,646 shares of the semiconductor company’s stock worth $795,000 after acquiring an additional 51 shares during the period. Retirement Planning Group LLC lifted its position in Lam Research by 2.9% during the 4th quarter. Retirement Planning Group LLC now owns 1,834 shares of the semiconductor company’s stock worth $314,000 after acquiring an additional 51 shares during the period. Finally, Plancorp LLC lifted its position in Lam Research by 2.1% during the 4th quarter. Plancorp LLC now owns 2,518 shares of the semiconductor company’s stock worth $431,000 after acquiring an additional 51 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.
Lam Research Stock Performance
Shares of LRCX stock opened at $277.96 on Tuesday. The stock has a fifty day moving average price of $247.50 and a 200 day moving average price of $211.98. The stock has a market cap of $347.61 billion, a PE ratio of 52.45, a P/E/G ratio of 2.36 and a beta of 1.81. Lam Research Corporation has a 1 year low of $79.49 and a 1 year high of $302.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.77 and a current ratio of 2.54.
Wall Street Analyst Weigh In
A number of research firms have weighed in on LRCX. Royal Bank Of Canada increased their price objective on Lam Research from $290.00 to $310.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Rothschild & Co Redburn raised their price target on Lam Research from $225.00 to $265.00 and gave the company a “buy” rating in a report on Friday, February 6th. Wall Street Zen cut Lam Research from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Citigroup reissued a “buy” rating and issued a $315.00 price target (up from $300.00) on shares of Lam Research in a report on Thursday, April 23rd. Finally, BNP Paribas Exane raised their price target on Lam Research from $250.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, April 23rd. Twenty-seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and an average target price of $292.97.
Check Out Our Latest Research Report on Lam Research
Insider Buying and Selling
In related news, insider Ava Harter sold 6,010 shares of Lam Research stock in a transaction on Monday, April 27th. The stock was sold at an average price of $258.66, for a total transaction of $1,554,546.60. Following the completion of the transaction, the insider directly owned 53,205 shares of the company’s stock, valued at approximately $13,762,005.30. The trade was a 10.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Douglas R. Bettinger sold 50,057 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $224.03, for a total value of $11,214,269.71. Following the transaction, the chief financial officer directly owned 1,081,705 shares of the company’s stock, valued at $242,334,371.15. The trade was a 4.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 120,066 shares of company stock valued at $27,953,242. 0.31% of the stock is owned by insiders.
Lam Research Profile
Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.
Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.
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Want to see what other hedge funds are holding LRCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lam Research Corporation (NASDAQ:LRCX – Free Report).
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