Daiwa Securities Group Inc. Lowers Holdings in Lam Research Co. (NASDAQ:LRCX)

Daiwa Securities Group Inc. cut its stake in Lam Research Co. (NASDAQ:LRCX) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,387 shares of the semiconductor company’s stock after selling 73 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Lam Research were worth $20,668,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of LRCX. Orion Capital Management LLC acquired a new position in Lam Research in the 3rd quarter worth about $25,000. BluePath Capital Management LLC purchased a new stake in shares of Lam Research in the third quarter valued at approximately $28,000. OFI Invest Asset Management acquired a new position in shares of Lam Research during the 3rd quarter worth approximately $30,000. Asset Dedication LLC lifted its position in shares of Lam Research by 56.7% during the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 17 shares in the last quarter. Finally, Valued Wealth Advisors LLC purchased a new position in shares of Lam Research during the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Trading Down 0.9 %

NASDAQ LRCX opened at $903.60 on Thursday. Lam Research Co. has a one year low of $482.74 and a one year high of $1,007.39. The firm has a 50 day simple moving average of $945.78 and a 200-day simple moving average of $797.54. The firm has a market cap of $118.46 billion, a price-to-earnings ratio of 35.28, a PEG ratio of 3.49 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, beating the consensus estimate of $7.06 by $0.46. The company had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm’s revenue was down 28.8% compared to the same quarter last year. During the same quarter last year, the company posted $10.71 EPS. Equities research analysts anticipate that Lam Research Co. will post 28.9 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Tuesday, March 12th. Lam Research’s dividend payout ratio is currently 30.94%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LRCX. The Goldman Sachs Group upped their price objective on shares of Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. UBS Group upped their price target on shares of Lam Research from $885.00 to $1,130.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Stifel Nicolaus lifted their price objective on Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a report on Tuesday. Raymond James raised their target price on Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Citigroup boosted their price target 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 research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $881.45.

Insider Activity

In related news, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at $5,386,018.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Lam Research news, CAO Christina Corrreia sold 647 shares of the firm’s 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 sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at $5,386,018.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Abhijit Y. Talwalkar sold 882 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the transaction, the director now directly owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,029 shares of company stock worth $6,559,489. 0.32% of the stock is currently owned by company insiders.

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.