Delek Group Ltd. lowered its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 5.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,902 shares of the semiconductor company’s stock after selling 295 shares during the quarter. Delek Group Ltd.’s holdings in Lam Research were worth $997,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd bought a new position in Lam Research during the first quarter valued at about $116,000. Psagot Investment House Ltd. grew its position in Lam Research by 200.0% during the first quarter. Psagot Investment House Ltd. now owns 600 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 400 shares during the period. Field & Main Bank grew its position in Lam Research by 127.3% during the first quarter. Field & Main Bank now owns 625 shares of the semiconductor company’s stock valued at $127,000 after buying an additional 350 shares during the period. Focused Wealth Management Inc bought a new position in Lam Research during the fourth quarter valued at about $140,000. Finally, Financial Gravity Wealth Inc. bought a new position in Lam Research during the first quarter valued at about $165,000. Institutional investors own 88.18% of the company’s stock.

In other news, CEO Martin B. Anstice sold 11,200 shares of the stock in a transaction dated Wednesday, March 21st. The shares were sold at an average price of $225.00, for a total value of $2,520,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Timothy Archer sold 16,574 shares of the stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $221.41, for a total transaction of $3,669,649.34. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,104 shares of company stock worth $16,755,246. Insiders own 0.41% of the company’s stock.

Several equities analysts recently weighed in on the stock. BidaskClub upgraded shares of Lam Research from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 13th. Credit Suisse Group upped their price objective on shares of Lam Research from $275.00 to $278.00 and gave the company an “outperform” rating in a report on Wednesday, April 18th. Vetr downgraded shares of Lam Research from a “strong-buy” rating to a “buy” rating and set a $240.39 price objective on the stock. in a report on Monday, March 12th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $275.00 price objective on shares of Lam Research in a report on Wednesday, April 18th. Finally, Bank of America dropped their price objective on shares of Lam Research from $305.00 to $285.00 and set a “buy” rating on the stock in a report on Monday. Five equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Lam Research presently has an average rating of “Buy” and a consensus target price of $254.66.

Shares of Lam Research opened at $186.93 on Wednesday, Marketbeat.com reports. Lam Research Co. has a 12-month low of $139.24 and a 12-month high of $234.88. The stock has a market capitalization of $30.14 billion, a PE ratio of 18.73, a PEG ratio of 0.59 and a beta of 1.43. The company has a current ratio of 2.64, a quick ratio of 2.21 and a debt-to-equity ratio of 0.26.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Tuesday, April 17th. The semiconductor company reported $4.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.38 by $0.41. Lam Research had a net margin of 18.32% and a return on equity of 41.13%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the prior year, the firm posted $3.10 earnings per share. The company’s revenue for the quarter was up 34.3% on a year-over-year basis. analysts anticipate that Lam Research Co. will post 17.55 earnings per share for the current year.

Lam Research announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 6th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 27th. Stockholders of record on Wednesday, June 6th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.35%. This is an increase from Lam Research’s previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, June 5th. Lam Research’s dividend payout ratio is presently 44.09%.

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 thin film deposition products, including SABRE electrochemical deposition products for copper damascene manufacturing; ALTUS systems to deposit conformal atomic layer films for tungsten metallization applications; VECTOR plasma-enhanced chemical vapor deposition (CVD) and atomic layer deposition systems to deposit oxides, nitrides, and carbides for hardmasks, multiple patterning films, anti-reflective layers, multi-layer stack films, and diffusion barriers; and Striker atomic layer deposition systems that deliver conformal dielectric films for spacer-based patterning and liner applications in various advanced memory and logic structures.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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