Lam Research Co. (NASDAQ:LRCX) Shares Sold by SouthState Corp

SouthState Corp cut its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 35.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33 shares of the semiconductor company’s stock after selling 18 shares during the quarter. SouthState Corp’s holdings in Lam Research were worth $26,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Orion Capital Management LLC purchased a new position in Lam Research during the third quarter worth about $25,000. BluePath Capital Management LLC purchased a new position in Lam Research during the third quarter worth about $28,000. OFI Invest Asset Management purchased a new position in Lam Research during the third quarter worth about $30,000. Asset Dedication LLC raised its stake in Lam Research by 56.7% during the third 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 period. Finally, Valued Wealth Advisors LLC purchased a new position in Lam Research during the fourth quarter worth about $30,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Price Performance

Shares of LRCX opened at $908.53 on Friday. The firm has a market cap of $119.11 billion, a price-to-earnings ratio of 33.41, a PEG ratio of 2.82 and a beta of 1.51. The stock has a 50 day moving average of $941.31 and a 200-day moving average of $817.83. 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 52 week low of $507.19 and a 52 week high of $1,007.39.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. The business had revenue of $3.79 billion during 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%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.99 EPS. As a group, analysts forecast that Lam Research Co. will post 29.62 EPS for the current year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were paid 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 dividend payout ratio is presently 29.42%.

Analyst Ratings Changes

A number of brokerages have commented on LRCX. Wells Fargo & Company lifted their target price on shares of Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Evercore ISI started coverage on shares of Lam Research in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 price target on the stock. Susquehanna reduced their price target on shares of Lam Research from $880.00 to $850.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Stifel Nicolaus boosted their price target on shares of Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $1,030.00 target price on shares of Lam Research in a research note on Thursday, April 25th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $950.85.

Insider Buying and Selling

In related news, EVP Patrick J. Lord sold 60 shares of Lam Research stock in a transaction 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 transaction, the executive vice president now directly owns 4,454 shares in the company, valued at approximately $4,104,539.16. The sale 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 business’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 completion of the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Patrick J. Lord sold 60 shares of the business’s 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 transaction, the executive vice president now directly 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. Insiders have sold 7,089 shares of company stock worth $6,614,781 in the last three months. 0.32% of the stock is currently owned by 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.