Lam Research Co. (NASDAQ:LRCX) Stock Holdings Decreased by OLD National Bancorp IN

OLD National Bancorp IN cut its holdings in Lam Research Co. (NASDAQ:LRCX) by 2.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,644 shares of the semiconductor company’s stock after selling 45 shares during the period. OLD National Bancorp IN’s holdings in Lam Research were worth $1,288,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of LRCX. Valued Wealth Advisors LLC acquired a new position in Lam Research during the 4th quarter valued at about $30,000. Orion Capital Management LLC acquired a new position in Lam Research during the 3rd quarter valued at about $25,000. BluePath Capital Management LLC acquired a new position in Lam Research during the 3rd quarter valued at about $28,000. Asset Dedication LLC boosted its stake in Lam Research by 56.7% during the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 17 shares during the period. Finally, Rakuten Securities Inc. acquired a new stake in shares of Lam Research in the 4th quarter worth approximately $38,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on LRCX. B. Riley raised shares of Lam Research from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $870.00 to $1,100.00 in a research report on Friday, April 19th. Mizuho upped their target price on shares of Lam Research from $900.00 to $935.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of Lam Research in a report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 price target for the company. Wells Fargo & Company lifted their price target on shares of Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. Finally, Stifel Nicolaus raised their price objective on shares of Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $931.85.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $887.42 on Wednesday. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. The stock’s fifty day simple moving average is $944.54 and its two-hundred day simple moving average is $805.82. Lam Research Co. has a 1-year low of $493.42 and a 1-year high of $1,007.39. The stock has a market cap of $116.34 billion, a PE ratio of 34.32, a price-to-earnings-growth ratio of 3.14 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, topping analysts’ consensus estimates of $7.06 by $0.46. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The company had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the previous year, the business posted $10.71 EPS. The business’s revenue for the quarter was down 28.8% compared to the same quarter last year. As a group, analysts forecast that Lam Research Co. will post 28.92 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s payout ratio is 30.94%.

Insider Transactions at Lam Research

In other Lam Research news, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the sale, the chief accounting officer now owns 5,541 shares in the company, valued at $5,386,018.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value 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 legal filing with the SEC, which is available at this hyperlink. Also, CAO Christina Corrreia sold 647 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of 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 valued at $6,559,489. 0.32% of the stock is owned by corporate 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.