Federated Hermes Inc. Sells 7,396 Shares of Lam Research Co. (NASDAQ:LRCX)

Federated Hermes Inc. cut its stake in Lam Research Co. (NASDAQ:LRCX) by 12.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 53,958 shares of the semiconductor company’s stock after selling 7,396 shares during the period. Federated Hermes Inc.’s holdings in Lam Research were worth $42,263,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Baird Financial Group Inc. boosted its position in Lam Research by 11.5% during the first quarter. Baird Financial Group Inc. now owns 39,514 shares of the semiconductor company’s stock valued at $21,243,000 after acquiring an additional 4,090 shares during the last quarter. Zions Bancorporation N.A. lifted its stake in Lam Research by 39.1% in the first quarter. Zions Bancorporation N.A. now owns 281 shares of the semiconductor company’s stock valued at $151,000 after buying an additional 79 shares during the period. Brown Brothers Harriman & Co. boosted its holdings in shares of Lam Research by 18.8% during the 1st quarter. Brown Brothers Harriman & Co. now owns 721 shares of the semiconductor company’s stock worth $388,000 after buying an additional 114 shares in the last quarter. Covestor Ltd grew its position in shares of Lam Research by 51.9% during the 1st quarter. Covestor Ltd now owns 322 shares of the semiconductor company’s stock worth $173,000 after buying an additional 110 shares during the period. Finally, Mackenzie Financial Corp grew its position in shares of Lam Research by 11.8% during the 1st quarter. Mackenzie Financial Corp now owns 233,280 shares of the semiconductor company’s stock worth $125,414,000 after buying an additional 24,636 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on LRCX shares. Evercore ISI began coverage on shares of Lam Research in a research note on Tuesday. They set an “outperform” rating and a $1,200.00 target price on the stock. Barclays increased their price objective on shares of Lam Research from $750.00 to $825.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 25th. Susquehanna boosted their target price on Lam Research from $655.00 to $880.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Wells Fargo & Company upped their price target on Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Lam Research in a research note on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $899.64.

Lam Research Stock Down 2.1 %

Lam Research stock opened at $870.25 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The stock has a market cap of $114.09 billion, a PE ratio of 33.65, a price-to-earnings-growth ratio of 3.22 and a beta of 1.51. Lam Research Co. has a fifty-two week low of $493.42 and a fifty-two week high of $1,007.39. The firm’s 50-day simple moving average is $945.44 and its 200 day simple moving average is $799.83.

Lam Research (NASDAQ:LRCX) last released 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 during 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%. Lam Research’s quarterly revenue was down 28.8% on a year-over-year basis. During the same period in the prior year, the company posted $10.71 earnings per share. Research analysts predict that Lam Research Co. will post 28.92 EPS for the current fiscal year.

Lam Research Dividend Announcement

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

Insider Activity at Lam Research

In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the sale, the director now owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was 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 directly owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the transaction, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,029 shares of company stock worth $6,559,489. 0.32% of the stock is owned by company insiders.

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.