First Horizon Advisors Inc. Boosts Holdings in Lam Research Co. (NASDAQ:LRCX)

First Horizon Advisors Inc. lifted its position in Lam Research Co. (NASDAQ:LRCX) by 11.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 354 shares of the semiconductor company’s stock after acquiring an additional 36 shares during the quarter. First Horizon Advisors Inc.’s holdings in Lam Research were worth $278,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Valued Wealth Advisors LLC purchased a new position in Lam Research in the 4th quarter worth about $30,000. Orion Capital Management LLC bought a new stake in Lam Research during the 3rd quarter valued at $25,000. BluePath Capital Management LLC bought a new position in shares of Lam Research in the 3rd quarter worth $28,000. Asset Dedication LLC lifted its stake in shares of Lam Research by 56.7% during the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 17 shares during the last quarter. Finally, Rakuten Securities Inc. bought a new stake in Lam Research during the fourth quarter valued at about $38,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on LRCX. UBS Group increased their price target on shares of Lam Research from $1,130.00 to $1,150.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Barclays raised their target price on shares of Lam Research from $825.00 to $865.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a research note on Saturday. Deutsche Bank Aktiengesellschaft began coverage on Lam Research in a research note on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 price target for the company. Finally, Wells Fargo & Company upped their price objective 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. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and a consensus price target of $950.85.

Lam Research Trading Up 2.8 %

LRCX stock opened at $908.53 on Monday. The company has a quick ratio of 1.84, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. Lam Research Co. has a 52-week low of $507.19 and a 52-week high of $1,007.39. The company’s 50-day simple moving average is $941.31 and its 200-day simple moving average is $820.25. The firm has a market cap of $118.78 billion, a P/E ratio of 33.41, a PEG ratio of 2.82 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, beating the consensus estimate of $7.26 by $0.53. The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. Lam Research’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company earned $6.99 earnings per share. As a group, equities analysts forecast that Lam Research Co. will post 29.62 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were given a $2.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 annualized dividend and a dividend yield of 0.88%. Lam Research’s dividend payout ratio (DPR) is 29.42%.

Insider Transactions at Lam Research

In related news, EVP Patrick J. Lord sold 60 shares of Lam Research stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $921.54, for a total value of $55,292.40. Following the sale, the executive vice president now directly owns 4,454 shares in the company, valued at approximately $4,104,539.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Patrick J. Lord sold 60 shares of Lam Research stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $921.54, for a total value of $55,292.40. Following the sale, the executive vice president now directly owns 4,454 shares of the company’s stock, valued at $4,104,539.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christina Corrreia sold 647 shares of the 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 completion of the transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The disclosure for this sale can be found here. Insiders sold 7,089 shares of company stock valued at $6,614,781 over the last 90 days. Corporate insiders own 0.32% of the company’s stock.

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.