Ninety One UK Ltd Sells 24,674 Shares of Lam Research Co. (NASDAQ:LRCX)

Ninety One UK Ltd decreased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 34.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,413 shares of the semiconductor company’s stock after selling 24,674 shares during the quarter. Ninety One UK Ltd’s holdings in Lam Research were worth $37,137,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Blue Whale Capital LLP increased its position in shares of Lam Research by 0.7% during the 3rd quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock worth $70,386,000 after purchasing an additional 800 shares during the last quarter. Everence Capital Management Inc. increased its holdings in shares of Lam Research by 54.7% during the 4th quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock worth $3,190,000 after acquiring an additional 1,440 shares during the last quarter. Gradient Investments LLC increased its holdings in shares of Lam Research by 32,411.1% during the 4th quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock worth $11,459,000 after acquiring an additional 14,585 shares during the last quarter. Contravisory Investment Management Inc. acquired a new position in shares of Lam Research during the 4th quarter worth approximately $7,930,000. Finally, Treasurer of the State of North Carolina increased its holdings in shares of Lam Research by 0.9% during the 3rd quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock worth $39,994,000 after acquiring an additional 560 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Evercore ISI started coverage on Lam Research in a research note on Tuesday. They issued an “outperform” rating and a $1,200.00 price target for the company. TD Cowen upped their target price on Lam Research from $710.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Stifel Nicolaus upped their target price on Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Cantor Fitzgerald upped their target price on Lam Research from $900.00 to $1,100.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $899.64.

Lam Research Trading Down 2.6 %

Shares of LRCX stock opened at $888.92 on Friday. The stock has a market cap of $116.54 billion, a price-to-earnings ratio of 34.37, a PEG ratio of 3.30 and a beta of 1.51. The stock has a 50-day moving average of $946.27 and a 200-day moving average of $798.17. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. Lam Research Co. has a 1-year low of $482.74 and a 1-year high of $1,007.39.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating the consensus estimate of $7.06 by $0.46. The company 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 quarterly revenue was down 28.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.71 earnings per share. On average, equities research analysts forecast that Lam Research Co. will post 28.9 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were paid a dividend of $2.00 per share. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.90%. Lam Research’s dividend payout ratio is currently 30.94%.

Insider Buying and Selling

In related news, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the sale, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christina Corrreia sold 647 shares of the 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 completion of the transaction, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Insiders sold 7,029 shares of company stock valued at $6,559,489 over the last 90 days. Company insiders own 0.32% of the company’s stock.

Lam Research 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.