SeaCrest Wealth Management LLC Sells 46 Shares of Lam Research Co. (NASDAQ:LRCX)

SeaCrest Wealth Management LLC reduced its position in Lam Research Co. (NASDAQ:LRCX) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,650 shares of the semiconductor company’s stock after selling 46 shares during the quarter. Lam Research makes up about 1.0% of SeaCrest Wealth Management LLC’s investment portfolio, making the stock its 15th largest holding. SeaCrest Wealth Management LLC’s holdings in Lam Research were worth $7,800,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of LRCX. Valued Wealth Advisors LLC bought a new position in shares of Lam Research during the fourth quarter worth $30,000. Bollard Group LLC boosted its position in shares of Lam Research by 60.0% during the second quarter. Bollard Group LLC now owns 40 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 15 shares during the last quarter. Orion Capital Management LLC bought a new position in shares of Lam Research during the third quarter worth $25,000. BluePath Capital Management LLC bought a new position in shares of Lam Research during the third quarter worth $28,000. Finally, Resurgent Financial Advisors LLC bought a new position in shares of Lam Research during the second quarter worth $29,000. 84.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Lam Research news, CEO Timothy Archer sold 10,524 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $732.00, for a total transaction of $7,703,568.00. Following the transaction, the chief executive officer now directly owns 86,449 shares in the company, valued at approximately $63,280,668. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $768.75, for a total value of $678,037.50. Following the sale, the director now directly owns 11,604 shares in the company, valued at approximately $8,920,575. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy Archer sold 10,524 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $732.00, for a total transaction of $7,703,568.00. Following the completion of the sale, the chief executive officer now owns 86,449 shares in the company, valued at $63,280,668. The disclosure for this sale can be found here. Insiders have sold a total of 19,895 shares of company stock worth $15,666,586 in the last three months. Corporate insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on LRCX shares. Deutsche Bank Aktiengesellschaft lowered shares of Lam Research from a “buy” rating to a “hold” rating and upped their target price for the stock from $680.00 to $725.00 in a research report on Tuesday, December 12th. TD Cowen upped their price target on shares of Lam Research from $710.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Citigroup upped their price target on shares of Lam Research from $800.00 to $975.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. UBS Group upped their price target on shares of Lam Research from $885.00 to $1,130.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Finally, Stifel Nicolaus upped their price target on shares of Lam Research from $850.00 to $950.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $811.68.

Lam Research Trading Up 0.6 %

LRCX stock traded up $5.90 during trading on Friday, hitting $971.57. The company had a trading volume of 664,100 shares, compared to its average volume of 1,086,944. The firm has a market capitalization of $127.37 billion, a P/E ratio of 37.57, a PEG ratio of 3.44 and a beta of 1.51. Lam Research Co. has a 52-week low of $480.45 and a 52-week high of $1,007.39. The company has a 50 day simple moving average of $907.49 and a 200-day simple moving average of $762.59. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, topping the consensus estimate of $7.06 by $0.46. The company had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm’s revenue was down 28.8% compared to the same quarter last year. During the same quarter last year, the firm posted $10.71 EPS. As a group, research analysts forecast that Lam Research Co. will post 28.88 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.82%. The ex-dividend date is Tuesday, March 12th. Lam Research’s payout ratio is 30.94%.

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.