Lam Research Co. (NASDAQ:LRCX) Shares Sold by Cypress Capital Management LLC

Cypress Capital Management LLC cut its holdings in Lam Research Co. (NASDAQ:LRCX) by 24.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,715 shares of the semiconductor company’s stock after selling 878 shares during the period. Cypress Capital Management LLC’s holdings in Lam Research were worth $1,616,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Quilter Plc grew its holdings in shares of Lam Research by 15.1% during the first quarter. Quilter Plc now owns 855 shares of the semiconductor company’s stock worth $509,000 after purchasing an additional 112 shares during the last quarter. Insight Wealth Strategies LLC grew its holdings in shares of Lam Research by 18.9% during the first quarter. Insight Wealth Strategies LLC now owns 7,975 shares of the semiconductor company’s stock worth $4,747,000 after purchasing an additional 1,266 shares during the last quarter. Ritholtz Wealth Management grew its holdings in shares of Lam Research by 69.3% during the first quarter. Ritholtz Wealth Management now owns 1,774 shares of the semiconductor company’s stock worth $1,056,000 after purchasing an additional 726 shares during the last quarter. E Fund Management Co. Ltd. purchased a new position in shares of Lam Research during the first quarter worth about $1,986,000. Finally, Norinchukin Bank The grew its holdings in shares of Lam Research by 4.1% during the first quarter. Norinchukin Bank The now owns 13,284 shares of the semiconductor company’s stock worth $7,907,000 after purchasing an additional 522 shares during the last quarter. Institutional investors own 82.22% of the company’s stock.

In other Lam Research news, CEO Timothy Archer sold 4,465 shares of Lam Research stock in a transaction that occurred on Monday, May 10th. The shares were sold at an average price of $621.41, for a total value of $2,774,595.65. 0.34% of the stock is currently owned by insiders.

Several equities analysts have issued reports on the company. DA Davidson raised their price objective on Lam Research from $615.00 to $725.00 and gave the stock a “neutral” rating in a report on Friday, April 23rd. Argus raised their price target on Lam Research from $625.00 to $725.00 and gave the stock a “buy” rating in a report on Thursday, April 15th. Sanford C. Bernstein started coverage on Lam Research in a report on Tuesday, March 30th. They set an “outperform” rating and a $700.00 price target on the stock. B. Riley raised their price target on Lam Research from $800.00 to $815.00 and gave the stock a “buy” rating in a report on Thursday, April 22nd. Finally, Credit Suisse Group raised their price target on Lam Research from $650.00 to $750.00 and gave the stock an “outperform” rating in a report on Friday, April 16th. Four investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Lam Research has a consensus rating of “Buy” and an average target price of $663.41.

Shares of Lam Research stock traded down $1.56 during trading on Friday, hitting $639.21. 15,803 shares of the company were exchanged, compared to its average volume of 1,590,694. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.13 and a quick ratio of 2.43. Lam Research Co. has a fifty-two week low of $274.51 and a fifty-two week high of $673.80. The stock has a market cap of $91.16 billion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 0.74 and a beta of 1.27. The stock has a 50 day moving average of $630.24.

Lam Research (NASDAQ:LRCX) last released its earnings results on Tuesday, April 20th. The semiconductor company reported $7.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $6.56 by $0.93. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a net margin of 26.07% and a return on equity of 65.20%. Lam Research’s revenue for the quarter was up 53.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.98 EPS. As a group, research analysts forecast that Lam Research Co. will post 26.71 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 7th. Shareholders of record on Wednesday, June 16th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, June 15th. This represents a $5.20 annualized dividend and a yield of 0.81%. Lam Research’s payout ratio is currently 32.60%.

Lam Research Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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