Cozad Asset Management Inc. Trims Stock Position in Lam Research Co. (NASDAQ:LRCX)

Cozad Asset Management Inc. trimmed its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 2.1% in the fourth quarter, Holdings Channel reports. The firm owned 16,356 shares of the semiconductor company’s stock after selling 345 shares during the period. Lam Research makes up 1.5% of Cozad Asset Management Inc.’s portfolio, making the stock its 11th biggest position. Cozad Asset Management Inc.’s holdings in Lam Research were worth $12,811,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in LRCX. Van ECK Associates Corp grew its holdings in shares of Lam Research by 12.3% in the 4th quarter. Van ECK Associates Corp now owns 776,885 shares of the semiconductor company’s stock worth $608,503,000 after acquiring an additional 85,102 shares during the last quarter. EWA LLC acquired a new position in shares of Lam Research in the 4th quarter valued at $202,000. Avaii Wealth Management LLC bought a new stake in shares of Lam Research in the fourth quarter valued at about $222,000. Mather Group LLC. raised its holdings in shares of Lam Research by 1.4% in the 4th quarter. Mather Group LLC. now owns 1,713 shares of the semiconductor company’s stock valued at $1,341,000 after purchasing an additional 23 shares during the period. Finally, Silver Oak Securities Incorporated lifted its holdings in shares of Lam Research by 449.4% during the fourth quarter. Silver Oak Securities Incorporated now owns 456 shares of the semiconductor company’s stock worth $357,000 after buying an additional 373 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Buying and Selling

In related news, Director Abhijit Y. Talwalkar sold 882 shares of the 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 $857,330.46. Following the completion of the transaction, the director now directly owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The transaction was disclosed in a 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 on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of the transaction, the director now directly owns 10,541 shares in the company, valued at $10,246,168.23. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,029 shares of company stock valued at $6,559,489. Corporate insiders own 0.32% of the company’s stock.

Lam Research Trading Down 2.5 %

Shares of LRCX stock traded down $23.12 during trading hours on Tuesday, reaching $905.69. 223,628 shares of the stock were exchanged, compared to its average volume of 1,063,034. Lam Research Co. has a 12-month low of $507.19 and a 12-month high of $1,007.39. The company has a current ratio of 2.82, a quick ratio of 1.84 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $118.74 billion, a price-to-earnings ratio of 34.16, a price-to-earnings-growth ratio of 2.88 and a beta of 1.51. The company’s 50-day moving average price is $943.72 and its 200-day moving average price is $813.44.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The firm had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter last year, the company earned $6.99 EPS. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, equities analysts anticipate that Lam Research Co. will post 29.54 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were paid a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.88%. Lam Research’s payout ratio is currently 29.42%.

Analysts Set New Price Targets

LRCX has been the subject of several research analyst reports. TD Cowen lifted their price objective on Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Citigroup boosted their target price on Lam Research from $975.00 to $1,025.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. The Goldman Sachs Group upped their target price on shares of Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Susquehanna cut their price target on shares of Lam Research from $880.00 to $850.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Finally, StockNews.com upgraded shares of Lam Research from a “hold” rating to a “buy” rating in a research note on Friday. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $950.85.

Lam Research Company 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.