Twin Capital Management Inc. Sells 92 Shares of Lam Research Co. (NASDAQ:LRCX)

Twin Capital Management Inc. lessened its holdings in Lam Research Co. (NASDAQ:LRCX) by 1.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 4,904 shares of the semiconductor company’s stock after selling 92 shares during the period. Twin Capital Management Inc.’s holdings in Lam Research were worth $3,841,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LRCX. Baird Financial Group Inc. boosted its holdings in Lam Research by 11.5% in the first quarter. Baird Financial Group Inc. now owns 39,514 shares of the semiconductor company’s stock worth $21,243,000 after acquiring an additional 4,090 shares in the last quarter. Zions Bancorporation N.A. boosted its holdings in Lam Research by 39.1% in the first quarter. Zions Bancorporation N.A. now owns 281 shares of the semiconductor company’s stock worth $151,000 after acquiring an additional 79 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in Lam Research by 18.8% in the first quarter. Brown Brothers Harriman & Co. now owns 721 shares of the semiconductor company’s stock worth $388,000 after acquiring an additional 114 shares in the last quarter. Covestor Ltd boosted its holdings in Lam Research by 51.9% in the first quarter. Covestor Ltd now owns 322 shares of the semiconductor company’s stock worth $173,000 after acquiring an additional 110 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in Lam Research by 11.8% in the first quarter. Mackenzie Financial Corp now owns 233,280 shares of the semiconductor company’s stock worth $125,414,000 after acquiring an additional 24,636 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LRCX. UBS Group raised their price target on Lam Research from $885.00 to $1,130.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft began coverage on Lam Research in a research note on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 price objective for the company. Evercore ISI began coverage on Lam Research in a research note on Tuesday. They issued an “outperform” rating and a $1,200.00 price objective for the company. TD Cowen raised their price objective on Lam Research from $710.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, Wells Fargo & Company raised their price objective on Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $881.45.

Lam Research Price Performance

Shares of Lam Research stock traded down $20.33 on Thursday, reaching $891.93. The company’s stock had a trading volume of 887,726 shares, compared to its average volume of 1,023,423. The company has a market capitalization of $116.93 billion, a P/E ratio of 35.28, a PEG ratio of 3.49 and a beta of 1.51. Lam Research Co. has a 52-week low of $482.74 and a 52-week high of $1,007.39. The stock has a 50-day moving average price of $945.78 and a 200-day moving average price of $797.54. 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 data on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, beating analysts’ consensus estimates of $7.06 by $0.46. The business had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.71 billion. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The business’s revenue was down 28.8% compared to the same quarter last year. During the same period in the previous year, the business earned $10.71 earnings per share. Analysts expect that Lam Research Co. will post 28.9 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is presently 30.94%.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the sale, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the sale, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Insiders sold 7,029 shares of company stock worth $6,559,489 over the last three months. 0.32% of the stock is currently owned by corporate insiders.

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.