Twin Capital Management Inc. Lowers Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Twin Capital Management Inc. trimmed its position in Lam Research Co. (NASDAQ:LRCX) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,904 shares of the semiconductor company’s stock after selling 92 shares during the quarter. Twin Capital Management Inc.’s holdings in Lam Research were worth $3,841,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LRCX. Baird Financial Group Inc. lifted its holdings in shares of Lam Research by 11.5% in the first quarter. Baird Financial Group Inc. now owns 39,514 shares of the semiconductor company’s stock worth $21,243,000 after buying an additional 4,090 shares in the last quarter. Zions Bancorporation N.A. increased its position in shares of Lam Research by 39.1% in the first quarter. Zions Bancorporation N.A. now owns 281 shares of the semiconductor company’s stock worth $151,000 after purchasing an additional 79 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in shares of Lam Research by 18.8% in the first quarter. Brown Brothers Harriman & Co. now owns 721 shares of the semiconductor company’s stock worth $388,000 after purchasing an additional 114 shares during the last quarter. Covestor Ltd increased its position in shares of Lam Research by 51.9% in the first quarter. Covestor Ltd now owns 322 shares of the semiconductor company’s stock worth $173,000 after purchasing an additional 110 shares during the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Lam Research by 11.8% in the first quarter. Mackenzie Financial Corp now owns 233,280 shares of the semiconductor company’s stock worth $125,414,000 after purchasing an additional 24,636 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction on Monday, March 18th. The shares were 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 $20,380,648.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction 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 owns 5,541 shares in the company, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Insiders have sold a total of 7,029 shares of company stock worth $6,559,489 over the last quarter. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

LRCX has been the topic of several research analyst reports. UBS Group upped their price objective 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. Cantor Fitzgerald upped their price objective on shares of Lam Research from $900.00 to $1,100.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Mizuho increased their price target on shares of Lam Research from $900.00 to $935.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Raymond James increased their price target on shares of Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Needham & Company LLC increased their price target on shares of Lam Research from $900.00 to $1,030.00 and gave the company a “buy” rating in a research report on Thursday. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $881.45.

Lam Research Trading Down 2.2 %

Shares of Lam Research stock traded down $20.33 on Thursday, hitting $891.93. The stock had a trading volume of 887,726 shares, compared to its average volume of 1,023,423. The stock has a market cap of $116.93 billion, a price-to-earnings ratio of 35.28, a PEG ratio of 3.49 and a beta of 1.51. The stock’s 50-day simple moving average is $945.78 and its two-hundred day simple moving average is $797.54. Lam Research Co. has a one year low of $482.74 and a one year high of $1,007.39. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating the consensus estimate of $7.06 by $0.46. The business had revenue of $3.76 billion for 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 for the quarter was down 28.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $10.71 earnings per share. As a group, sell-side analysts predict that Lam Research Co. will post 28.9 EPS for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is currently 30.94%.

About Lam Research

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.