Phraction Management LLC Has $1.04 Million Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Phraction Management LLC lessened its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 14.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,332 shares of the semiconductor company’s stock after selling 219 shares during the period. Lam Research accounts for 0.4% of Phraction Management LLC’s portfolio, making the stock its 28th largest holding. Phraction Management LLC’s holdings in Lam Research were worth $1,043,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of LRCX. International Assets Investment Management LLC boosted its position in shares of Lam Research by 76,165.7% in the fourth quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company’s stock valued at $249,099,000 after acquiring an additional 317,611 shares during the period. Cerity Partners LLC lifted its position in Lam Research by 1,125.6% in the fourth quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company’s stock worth $267,984,000 after purchasing an additional 314,224 shares during the period. Bank of New York Mellon Corp lifted its position in Lam Research by 10.8% in the third quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock worth $1,029,386,000 after purchasing an additional 159,815 shares during the period. Canada Pension Plan Investment Board lifted its position in Lam Research by 106.5% in the third quarter. Canada Pension Plan Investment Board now owns 301,071 shares of the semiconductor company’s stock worth $188,702,000 after purchasing an additional 155,240 shares during the period. Finally, Northern Trust Corp lifted its position in Lam Research by 9.7% in the third quarter. Northern Trust Corp now owns 1,523,215 shares of the semiconductor company’s stock worth $954,705,000 after purchasing an additional 134,558 shares during the period. 84.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. The Goldman Sachs Group lifted their price objective on Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a report on Thursday, January 25th. UBS Group lifted their price objective on Lam Research from $1,130.00 to $1,150.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Raymond James raised their target price on Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Barclays raised their target price on Lam Research from $825.00 to $865.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. Finally, Needham & Company LLC restated a “buy” rating and issued a $1,030.00 target price on shares of Lam Research in a research note on Thursday, April 25th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $950.85.

Lam Research Trading Down 2.9 %

LRCX traded down $26.03 during midday trading on Wednesday, reaching $868.38. 290,992 shares of the company were exchanged, compared to its average volume of 1,062,151. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.84 and a current ratio of 2.82. Lam Research Co. has a one year low of $507.19 and a one year high of $1,007.39. The stock has a market capitalization of $113.84 billion, a P/E ratio of 32.89, a PEG ratio of 2.88 and a beta of 1.51. The stock’s 50-day simple moving average is $943.60 and its 200 day simple moving average is $815.20.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The firm had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter last year, the business earned $6.99 earnings per share. The company’s revenue was down 2.0% compared to the same quarter last year. As a group, analysts forecast that Lam Research Co. will post 29.62 earnings per share 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 0.92%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is presently 29.42%.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the transaction, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the transaction, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Patrick J. Lord sold 60 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $921.54, for a total value of $55,292.40. Following the completion of the sale, the executive vice president now owns 4,454 shares in the company, valued at approximately $4,104,539.16. The disclosure for this sale can be found here. Insiders have sold 7,089 shares of company stock worth $6,614,781 in the last 90 days. Corporate insiders own 0.32% of the company’s stock.

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.