Terra Nova Asset Management LLC Sells 119 Shares of Lam Research Co. (NASDAQ:LRCX)

Terra Nova Asset Management LLC reduced its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,410 shares of the semiconductor company’s stock after selling 119 shares during the quarter. Lam Research accounts for 3.0% of Terra Nova Asset Management LLC’s holdings, making the stock its 5th biggest holding. Terra Nova Asset Management LLC’s holdings in Lam Research were worth $3,454,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Orion Capital Management LLC acquired a new stake in Lam Research in the third quarter valued at about $25,000. Bollard Group LLC boosted its stake in Lam Research by 60.0% in the second quarter. Bollard Group LLC now owns 40 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 15 shares in the last quarter. BluePath Capital Management LLC acquired a new stake in Lam Research in the third quarter valued at about $28,000. Resurgent Financial Advisors LLC acquired a new stake in Lam Research in the second quarter valued at about $29,000. Finally, OFI Invest Asset Management bought a new position in Lam Research in the third quarter valued at about $30,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Lam Research

In other news, SVP Ava Hahn sold 2,342 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $732.00, for a total value of $1,714,344.00. Following the completion of the sale, the senior vice president now owns 3,433 shares of the company’s stock, valued at approximately $2,512,956. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Lam Research news, SVP Ava Hahn sold 2,342 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $732.00, for a total transaction of $1,714,344.00. Following the completion of the transaction, the senior vice president now owns 3,433 shares of the company’s stock, valued at approximately $2,512,956. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy Archer sold 10,524 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $732.00, for a total value of $7,703,568.00. Following the transaction, the chief executive officer now directly owns 86,449 shares of the company’s stock, valued at approximately $63,280,668. The disclosure for this sale can be found here. In the last three months, insiders sold 19,895 shares of company stock worth $15,666,586. 0.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

LRCX has been the subject of several research reports. Morgan Stanley downgraded Lam Research from an “overweight” rating to an “equal weight” rating and set a $720.00 target price for the company. in a research report on Friday, December 8th. Needham & Company LLC increased their target price on Lam Research from $800.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Mizuho increased their target price on Lam Research from $900.00 to $935.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Barclays increased their target price on Lam Research from $750.00 to $825.00 and gave the company an “equal weight” rating in a research report on Thursday, January 25th. Finally, Citigroup raised their price objective on Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $811.68.

Lam Research Price Performance

Lam Research stock opened at $971.57 on Friday. Lam Research Co. has a 52 week low of $480.45 and a 52 week high of $1,007.39. The business has a 50-day simple moving average of $907.49 and a 200 day simple moving average of $762.59. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61. The stock has a market cap of $127.37 billion, a price-to-earnings ratio of 37.57, a PEG ratio of 3.44 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, topping the consensus estimate of $7.06 by $0.46. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The business had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the previous year, the business earned $10.71 earnings per share. The firm’s revenue was down 28.8% on a year-over-year basis. On average, research analysts forecast that Lam Research Co. will post 28.88 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Tuesday, March 12th. Lam Research’s payout ratio is currently 30.94%.

Lam Research 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.