Lam Research Co. (NASDAQ:LRCX) Stake Lowered by Sound View Wealth Advisors Group LLC


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Sound View Wealth Advisors Group LLC reduced its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 2.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,400 shares of the semiconductor company’s stock after selling 32 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Lam Research were worth $833,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in Lam Research in the fourth quarter valued at approximately $728,936,000. Sands Capital Management LLC acquired a new position in Lam Research in the 4th quarter valued at about $658,961,000. FMR LLC lifted its position in shares of Lam Research by 12.1% in the fourth quarter. FMR LLC now owns 8,731,016 shares of the semiconductor company’s stock valued at $4,123,397,000 after acquiring an additional 940,594 shares in the last quarter. JPMorgan Chase & Co. increased its position in Lam Research by 15.7% in the 4th quarter. JPMorgan Chase & Co. now owns 5,162,415 shares of the semiconductor company’s stock valued at $2,438,054,000 after acquiring an additional 702,353 shares during the period. Finally, Cibc World Markets Corp boosted its position in shares of Lam Research by 2,003.3% in the fourth quarter. Cibc World Markets Corp now owns 539,409 shares of the semiconductor company’s stock worth $254,747,000 after buying an additional 513,763 shares during the period. 84.03% of the stock is currently owned by institutional investors and hedge funds.

In related news, CEO Timothy Archer sold 4,464 shares of the stock in a transaction on Monday, February 8th. The stock was sold at an average price of $515.00, for a total transaction of $2,298,960.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Patrick J. Lord sold 4,166 shares of the business’s stock in a transaction on Monday, March 1st. The stock was sold at an average price of $576.56, for a total value of $2,401,948.96. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

NASDAQ LRCX traded down $24.62 during mid-day trading on Tuesday, hitting $592.62. The stock had a trading volume of 48,063 shares, compared to its average volume of 1,648,142. Lam Research Co. has a 52-week low of $231.38 and a 52-week high of $669.00. The company has a market cap of $84.69 billion, a price-to-earnings ratio of 35.01, a P/E/G ratio of 1.42 and a beta of 1.33. The company has a quick ratio of 2.68, a current ratio of 3.31 and a debt-to-equity ratio of 0.92. The company has a 50 day simple moving average of $610.49 and a 200 day simple moving average of $516.72.

Lam Research (NASDAQ:LRCX) last released its earnings results on Tuesday, April 20th. The semiconductor company reported $7.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $6.56 by $0.93. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a net margin of 23.60% and a return on equity of 55.82%. The business’s revenue was up 53.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.98 EPS. As a group, equities analysts anticipate that Lam Research Co. will post 22.41 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 7th. Shareholders of record on Wednesday, March 17th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.88%. The ex-dividend date was Tuesday, March 16th. Lam Research’s dividend payout ratio (DPR) is currently 32.60%.

A number of analysts recently issued reports on LRCX shares. UBS Group lifted their target price on Lam Research from $590.00 to $725.00 and gave the company a “buy” rating in a research report on Wednesday, April 28th. Barclays boosted their price target on Lam Research from $600.00 to $700.00 and gave the stock an “overweight” rating in a report on Wednesday, April 28th. Deutsche Bank Aktiengesellschaft lifted their target price on Lam Research from $575.00 to $680.00 and gave the stock a “hold” rating in a research report on Thursday, April 22nd. Stifel Nicolaus upped their target price on shares of Lam Research from $740.00 to $780.00 and gave the company a “buy” rating in a report on Wednesday, April 28th. Finally, Credit Suisse Group raised their price objective on shares of Lam Research from $650.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, April 22nd. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $663.41.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for 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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