Ritholtz Wealth Management Reduces Stock Position in Lam Research Co. (NASDAQ:LRCX)

Ritholtz Wealth Management cut its stake in Lam Research Co. (NASDAQ:LRCX) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,210 shares of the semiconductor company’s stock after selling 38 shares during the period. Ritholtz Wealth Management’s holdings in Lam Research were worth $1,731,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LRCX. Valued Wealth Advisors LLC purchased a new position in shares of Lam Research during the fourth quarter valued at approximately $30,000. Bollard Group LLC increased its position in shares of Lam Research by 60.0% during the second quarter. Bollard Group LLC now owns 40 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 15 shares in the last quarter. Orion Capital Management LLC bought a new stake in shares of Lam Research during the third quarter valued at approximately $25,000. BluePath Capital Management LLC bought a new stake in shares of Lam Research during the third quarter valued at approximately $28,000. Finally, Resurgent Financial Advisors LLC bought a new stake in shares of Lam Research during the second quarter valued at approximately $29,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Timothy Archer sold 10,524 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $732.00, for a total value of $7,703,568.00. Following the transaction, the chief executive officer now owns 86,449 shares in the company, valued at $63,280,668. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold a total of 19,895 shares of company stock valued at $15,666,586 over the last ninety days. Company insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Raymond James lifted their target price on shares of Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Morgan Stanley cut Lam Research from an “overweight” rating to an “equal weight” rating and set a $720.00 price target for the company. in a research report on Friday, December 8th. Deutsche Bank Aktiengesellschaft cut Lam Research from a “buy” rating to a “hold” rating and raised their price target for the company from $680.00 to $725.00 in a report on Tuesday, December 12th. Cantor Fitzgerald reissued a “neutral” rating and set a $900.00 target price on shares of Lam Research in a research note on Monday, March 4th. Finally, Barclays lifted their target price on Lam Research from $750.00 to $825.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $811.68.

Lam Research Trading Up 0.6 %

LRCX opened at $971.57 on Friday. The stock has a fifty day moving average price of $907.49 and a 200-day moving average price of $762.59. Lam Research Co. has a 12 month low of $480.45 and a 12 month high of $1,007.39. The firm has a market cap of $127.37 billion, a price-to-earnings ratio of 37.57, a PEG ratio of 3.44 and a beta of 1.51. 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 (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.06 by $0.46. The company had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.71 billion. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. 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 posted $10.71 EPS. As a group, equities research analysts anticipate that Lam Research Co. will post 28.88 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.82%. The ex-dividend date is Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is 30.94%.

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.