Lam Research Co. (NASDAQ:LRCX) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. lessened its position in shares of Lam Research Co. (NASDAQ:LRCXFree Report) by 2.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,878 shares of the semiconductor company’s stock after selling 267 shares during the period. Hartford Investment Management Co.’s holdings in Lam Research were worth $6,954,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Bollard Group LLC raised its holdings in Lam Research by 60.0% during the second quarter. Bollard Group LLC now owns 40 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 15 shares in the last quarter. KB Financial Partners LLC increased its holdings in shares of Lam Research by 5.9% in the 2nd quarter. KB Financial Partners LLC now owns 287 shares of the semiconductor company’s stock valued at $185,000 after acquiring an additional 16 shares during the period. Clear Creek Financial Management LLC grew its position in Lam Research by 1.3% during the 3rd quarter. Clear Creek Financial Management LLC now owns 1,342 shares of the semiconductor company’s stock worth $841,000 after purchasing an additional 17 shares during the last quarter. Asset Dedication LLC boosted its stake in shares of 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 buying an additional 17 shares during the period. Finally, SouthState Corp grew its holdings in shares of Lam Research by 54.5% during the third quarter. SouthState Corp now owns 51 shares of the semiconductor company’s stock worth $32,000 after buying an additional 18 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Barclays increased their price target on Lam Research from $750.00 to $825.00 and gave the stock an “equal weight” rating in a report on Thursday, January 25th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $900.00 price target on shares of Lam Research in a research note on Monday, March 4th. Susquehanna upped their price target on shares of Lam Research from $655.00 to $880.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Citigroup raised their price objective on shares of Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Raymond James increased their target price on Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $826.68.

Read Our Latest Stock Report on Lam Research

Insider Buying and Selling

In other Lam Research news, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the transaction, the chief accounting officer now directly owns 5,541 shares in the company, valued at $5,386,018.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO Christina Corrreia sold 647 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the transaction, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock worth $6,559,489 over the last ninety days. 0.32% of the stock is owned by insiders.

Lam Research Stock Up 1.9 %

LRCX traded up $18.00 during trading on Wednesday, hitting $985.33. The company had a trading volume of 276,909 shares, compared to its average volume of 1,052,256. Lam Research Co. has a 1-year low of $480.45 and a 1-year high of $1,007.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. The company has a market cap of $129.18 billion, a PE ratio of 38.12, a P/E/G ratio of 3.49 and a beta of 1.51. The business has a 50-day moving average of $919.82 and a 200-day moving average of $772.45.

Lam Research (NASDAQ:LRCXGet Free Report) last issued its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.06 by $0.46. The business had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The company’s revenue for the quarter was down 28.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $10.71 EPS. As a group, analysts forecast that Lam Research Co. will post 28.88 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.81%. Lam Research’s dividend payout ratio (DPR) is 30.94%.

About Lam Research

(Free Report)

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.

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

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