Lam Research Corporation $LRCX Shares Sold by Evelyn Partners Investment Management Services Ltd

Evelyn Partners Investment Management Services Ltd decreased its holdings in shares of Lam Research Corporation (NASDAQ:LRCX) by 8.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,941 shares of the semiconductor company’s stock after selling 2,444 shares during the quarter. Evelyn Partners Investment Management Services Ltd’s holdings in Lam Research were worth $5,329,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its holdings in shares of Lam Research by 1,032.4% in the 4th quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company’s stock valued at $1,025,000 after buying an additional 12,936 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of Lam Research during the first quarter worth about $239,000. Gabelli Funds LLC acquired a new stake in shares of Lam Research during the second quarter worth about $253,000. NewEdge Advisors LLC lifted its holdings in shares of Lam Research by 2.7% in the 2nd quarter. NewEdge Advisors LLC now owns 100,528 shares of the semiconductor company’s stock valued at $9,785,000 after purchasing an additional 2,661 shares during the last quarter. Finally, Osterweis Capital Management Inc. boosted its position in shares of Lam Research by 5,206.7% in the 2nd quarter. Osterweis Capital Management Inc. now owns 796 shares of the semiconductor company’s stock valued at $77,000 after purchasing an additional 781 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Lam Research

In other Lam Research news, SVP Neil J. Fernandes sold 18,170 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $255.14, for a total value of $4,635,893.80. Following the transaction, the senior vice president directly owned 66,129 shares of the company’s stock, valued at approximately $16,872,153.06. The trade was a 21.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Brandt sold 54,500 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $350.80, for a total transaction of $19,118,600.00. Following the transaction, the director owned 199,205 shares of the company’s stock, valued at approximately $69,881,114. The trade was a 21.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 98,611 shares of company stock worth $32,250,190 in the last three months. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. TD Cowen reaffirmed a “buy” rating and set a $400.00 price target (up from $340.00) on shares of Lam Research in a research report on Thursday, July 9th. Citigroup restated a “buy” rating and set a $450.00 target price (up from $315.00) on shares of Lam Research in a research report on Wednesday, June 17th. Wall Street Zen cut shares of Lam Research from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. BNP Paribas Exane upped their price target on shares of Lam Research from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, April 23rd. Finally, Raymond James Financial set a $425.00 price target on shares of Lam Research in a research note on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $363.37.

Lam Research Trading Down 4.5%

Shares of LRCX stock opened at $291.61 on Tuesday. The company has a market capitalization of $364.68 billion, a P/E ratio of 55.02, a price-to-earnings-growth ratio of 1.81 and a beta of 1.80. The company has a current ratio of 2.54, a quick ratio of 1.77 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $342.02 and its two-hundred day moving average is $274.96. Lam Research Corporation has a twelve month low of $90.93 and a twelve month high of $438.50.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Wednesday, June 17th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Wednesday, June 17th. Lam Research’s dividend payout ratio (DPR) is 19.62%.

About Lam Research

Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.

Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.