Choreo LLC Sells 42 Shares of Lam Research Co. (NASDAQ:LRCX)

Choreo LLC decreased its holdings in Lam Research Co. (NASDAQ:LRCX) by 8.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 452 shares of the semiconductor company’s stock after selling 42 shares during the quarter. Choreo LLC’s holdings in Lam Research were worth $355,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Arlington Trust Co LLC raised its stake in shares of Lam Research by 7.7% in the fourth quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock worth $143,000 after purchasing an additional 13 shares during the last quarter. CNB Bank grew its holdings in Lam Research by 1.4% during the fourth quarter. CNB Bank now owns 1,032 shares of the semiconductor company’s stock worth $808,000 after buying an additional 14 shares in the last quarter. TRUE Private Wealth Advisors raised its position in Lam Research by 4.1% in the 4th quarter. TRUE Private Wealth Advisors now owns 378 shares of the semiconductor company’s stock valued at $296,000 after buying an additional 15 shares during the last quarter. Asset Dedication LLC lifted 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 acquiring an additional 17 shares in the last quarter. Finally, Western Financial Corp CA boosted its holdings in Lam Research by 1.7% during the 4th quarter. Western Financial Corp CA now owns 1,003 shares of the semiconductor company’s stock worth $786,000 after acquiring an additional 17 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Up 2.8 %

LRCX opened at $908.53 on Friday. The company has a 50 day moving average of $941.71 and a 200 day moving average of $816.04. The company has a current ratio of 2.82, a quick ratio of 1.84 and a debt-to-equity ratio of 0.56. Lam Research Co. has a 12 month low of $507.19 and a 12 month high of $1,007.39. The company has a market cap of $119.11 billion, a PE ratio of 33.41, a price-to-earnings-growth ratio of 2.74 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, beating the consensus estimate of $7.26 by $0.53. The company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $6.99 earnings per share. On average, sell-side analysts expect that Lam Research Co. will post 29.62 EPS for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders 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 0.88%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s payout ratio is 29.42%.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’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 transaction of $5,073,255.00. Following the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Patrick J. Lord sold 60 shares of Lam Research stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $921.54, for a total value of $55,292.40. Following the sale, the executive vice president now owns 4,454 shares of the company’s stock, valued at approximately $4,104,539.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,089 shares of company stock worth $6,614,781. 0.32% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently commented on LRCX. Deutsche Bank Aktiengesellschaft began coverage on shares of Lam Research in a report on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 target price for the company. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Saturday. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $1,100.00 target price on shares of Lam Research in a report on Thursday, April 25th. TD Cowen increased their price target on Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, The Goldman Sachs Group boosted their price objective on Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and a consensus price target of $950.85.

About Lam Research

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.