Lam Research Co. (NASDAQ:LRCX) Shares Sold by Gallacher Capital Management LLC

Gallacher Capital Management LLC lowered its holdings in Lam Research Co. (NASDAQ:LRCX) by 17.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 481 shares of the semiconductor company’s stock after selling 104 shares during the period. Gallacher Capital Management LLC’s holdings in Lam Research were worth $377,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Avalon Trust Co acquired a new stake in Lam Research in the fourth quarter valued at approximately $44,000. National Bank of Canada FI grew its stake in shares of Lam Research by 70.3% during the fourth quarter. National Bank of Canada FI now owns 195,670 shares of the semiconductor company’s stock worth $146,615,000 after purchasing an additional 80,793 shares in the last quarter. Vestmark Advisory Solutions Inc. increased its holdings in Lam Research by 36.6% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 701 shares of the semiconductor company’s stock valued at $549,000 after buying an additional 188 shares during the last quarter. Royal Fund Management LLC boosted its holdings in shares of Lam Research by 5.0% in the 4th quarter. Royal Fund Management LLC now owns 6,074 shares of the semiconductor company’s stock valued at $4,769,000 after buying an additional 289 shares in the last quarter. Finally, AJOVista LLC acquired a new stake in Lam Research during the 4th quarter worth $102,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LRCX. JPMorgan Chase & Co. upped their target price on Lam Research from $900.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. UBS Group increased their price objective on Lam Research from $1,130.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Wells Fargo & Company upped their target price on shares of Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Stifel Nicolaus boosted their price target on Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Raymond James raised their price objective on Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $950.85.

Lam Research Trading Up 1.8 %

LRCX stock traded up $16.01 during midday trading on Monday, hitting $924.54. The stock had a trading volume of 576,903 shares, compared to its average volume of 1,058,433. Lam Research Co. has a 12-month low of $512.09 and a 12-month high of $1,007.39. The firm has a market cap of $120.87 billion, a PE ratio of 34.04, a price-to-earnings-growth ratio of 2.82 and a beta of 1.51. The company’s 50-day moving average price is $941.31 and its 200 day moving average price is $820.25. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period last year, the company earned $6.99 EPS. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. On average, equities research analysts predict that Lam Research Co. will post 29.62 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is 29.42%.

Insiders Place Their Bets

In other news, insider George M. Schisler sold 400 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $908.21, for a total transaction of $363,284.00. Following the completion of the sale, the insider now directly owns 5,661 shares in the company, valued at approximately $5,141,376.81. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider George M. Schisler sold 400 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $908.21, for a total transaction of $363,284.00. Following the completion of the sale, the insider now owns 5,661 shares in the company, valued at approximately $5,141,376.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, 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 a total of 7,489 shares of company stock valued at $6,978,065 over the last quarter. Company insiders own 0.32% of the company’s stock.

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.