Marvin & Palmer Associates Inc. lowered its stake in Lam Research Co. (NASDAQ:LRCX) by 17.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,930 shares of the semiconductor company’s stock after selling 4,700 shares during the period. Lam Research makes up approximately 5.8% of Marvin & Palmer Associates Inc.’s portfolio, making the stock its 2nd biggest holding. Marvin & Palmer Associates Inc.’s holdings in Lam Research were worth $13,054,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Sound Income Strategies LLC grew its holdings in Lam Research by 155.6% during the first quarter. Sound Income Strategies LLC now owns 46 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 28 shares during the period. Burleson & Company LLC purchased a new stake in Lam Research during the first quarter worth $27,000. Capital Analysts LLC purchased a new stake in Lam Research during the first quarter worth $32,000. Evoke Wealth LLC boosted its position in Lam Research by 150.0% during the first quarter. Evoke Wealth LLC now owns 60 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 36 shares in the last quarter. Finally, Wealthcare Capital Management LLC purchased a new stake in Lam Research during the first quarter worth $37,000. 82.01% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ LRCX traded down $2.82 during trading hours on Thursday, hitting $634.43. 41,635 shares of the company’s stock were exchanged, compared to its average volume of 1,023,382. The stock has a 50 day simple moving average of $627.54. Lam Research Co. has a 12-month low of $292.28 and a 12-month high of $673.80. The firm has a market capitalization of $90.48 billion, a price-to-earnings ratio of 26.90, a P/E/G ratio of 0.57 and a beta of 1.26. The company has a quick ratio of 2.43, a current ratio of 3.13 and a debt-to-equity ratio of 0.93.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 7th. Shareholders of record on Wednesday, June 16th were paid a dividend of $1.30 per share. The ex-dividend date was Tuesday, June 15th. This represents a $5.20 annualized dividend and a yield of 0.82%. Lam Research’s dividend payout ratio is presently 32.60%.
In other news, CEO Timothy Archer sold 4,465 shares of the stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $621.41, for a total value of $2,774,595.65. Also, SVP Scott Gerald Meikle sold 500 shares of the stock in a transaction dated Tuesday, June 15th. The shares were sold at an average price of $646.92, for a total value of $323,460.00. The disclosure for this sale can be found here. Insiders have sold 14,965 shares of company stock valued at $9,519,206 over the last 90 days. 0.34% of the stock is currently owned by insiders.
LRCX has been the topic of a number of research analyst reports. UBS Group boosted their target price on Lam Research from $590.00 to $725.00 and gave the stock a “buy” rating in a research report on Thursday, April 22nd. Barclays boosted their target price on Lam Research from $600.00 to $700.00 and gave the stock an “overweight” rating in a research report on Thursday, April 22nd. Credit Suisse Group boosted their target price on Lam Research from $650.00 to $750.00 and gave the stock an “outperform” rating in a research report on Friday, April 16th. Morgan Stanley upped their price objective on Lam Research from $568.00 to $726.00 and gave the company an “overweight” rating in a research report on Thursday, April 22nd. Finally, B. Riley upped their price objective on Lam Research from $800.00 to $815.00 and gave the company a “buy” rating in a research report on Thursday, April 22nd. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $682.86.
Lam Research Company Profile
Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.
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