Hilltop Holdings Inc. Decreases Stake in Lam Research Co. (NASDAQ:LRCX)

Hilltop Holdings Inc. cut its holdings in shares of Lam Research Co. (NASDAQ:LRCXGet Rating) by 3.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,195 shares of the semiconductor company’s stock after selling 49 shares during the quarter. Hilltop Holdings Inc.’s holdings in Lam Research were worth $859,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of LRCX. Pinnacle Private Wealth LLC acquired a new stake in Lam Research during the 4th quarter worth $380,000. M&G Investment Management Ltd. grew its position in Lam Research by 28.2% in the 4th quarter. M&G Investment Management Ltd. now owns 111,974 shares of the semiconductor company’s stock valued at $80,509,000 after acquiring an additional 24,641 shares in the last quarter. Maverick Capital Ltd. grew its position in Lam Research by 57.3% in the 3rd quarter. Maverick Capital Ltd. now owns 270,922 shares of the semiconductor company’s stock valued at $154,195,000 after acquiring an additional 98,641 shares in the last quarter. State of Michigan Retirement System grew its position in shares of Lam Research by 4.8% during the fourth quarter. State of Michigan Retirement System now owns 38,769 shares of the semiconductor company’s stock worth $27,881,000 after buying an additional 1,784 shares in the last quarter. Finally, Laffer Tengler Investments grew its position in shares of Lam Research by 18.3% during the third quarter. Laffer Tengler Investments now owns 6,977 shares of the semiconductor company’s stock worth $3,971,000 after buying an additional 1,081 shares in the last quarter. 82.34% of the stock is owned by institutional investors.

In related news, Director Catherine P. Lego bought 1,736 shares of the firm’s stock in a transaction that occurred on Tuesday, April 26th. The shares were acquired at an average cost of $460.35 per share, for a total transaction of $799,167.60. Following the acquisition, the director now directly owns 49,991 shares of the company’s stock, valued at approximately $23,013,356.85. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Scott Gerald Meikle sold 700 shares of Lam Research stock in a transaction on Friday, April 1st. The stock was sold at an average price of $541.22, for a total value of $378,854.00. Following the completion of the transaction, the senior vice president now owns 20,425 shares in the company, valued at $11,054,418.50. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

LRCX opened at $470.97 on Wednesday. Lam Research Co. has a one year low of $442.53 and a one year high of $731.85. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.00 and a current ratio of 2.83. The stock’s fifty day moving average is $495.05 and its 200-day moving average is $580.18. The company has a market capitalization of $65.33 billion, a PE ratio of 14.72, a P/E/G ratio of 0.96 and a beta of 1.27.

Lam Research (NASDAQ:LRCXGet Rating) last posted its quarterly earnings data on Wednesday, April 20th. The semiconductor company reported $7.40 EPS for the quarter, missing analysts’ consensus estimates of $7.48 by ($0.08). Lam Research had a return on equity of 75.51% and a net margin of 27.13%. The firm had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the prior year, the firm posted $7.49 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities research analysts forecast that Lam Research Co. will post 31.61 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 6th. Stockholders of record on Wednesday, June 15th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Tuesday, June 14th. Lam Research’s dividend payout ratio is presently 18.76%.

LRCX has been the subject of a number of analyst reports. Barclays lowered their price objective on Lam Research from $700.00 to $625.00 and set an “overweight” rating for the company in a research report on Thursday, April 21st. KeyCorp assumed coverage on Lam Research in a research report on Tuesday, January 25th. They set a “sector weight” rating for the company. Susquehanna Bancshares lowered their price target on Lam Research from $655.00 to $640.00 and set a “neutral” rating for the company in a report on Thursday, January 27th. Wells Fargo & Company lowered their price target on Lam Research from $610.00 to $525.00 and set an “equal weight” rating for the company in a report on Monday, April 18th. Finally, Jefferies Financial Group lowered their price target on Lam Research from $869.00 to $670.00 in a report on Friday, April 22nd. Twelve research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $670.90.

Lam Research Company Profile (Get Rating)

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.

See Also

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

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