Lam Research Co. (NASDAQ:LRCX) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC lessened its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 0.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 20,706 shares of the semiconductor company’s stock after selling 89 shares during the quarter. New York Life Investment Management LLC’s holdings in Lam Research were worth $16,218,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in LRCX. International Assets Investment Management LLC raised its stake in shares of Lam Research by 76,165.7% in the 4th quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company’s stock worth $249,099,000 after buying an additional 317,611 shares in the last quarter. Cerity Partners LLC raised its stake in shares of Lam Research by 1,125.6% in the 4th quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company’s stock worth $267,984,000 after buying an additional 314,224 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Lam Research by 10.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock worth $1,029,386,000 after buying an additional 159,815 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Lam Research by 106.5% in the 3rd quarter. Canada Pension Plan Investment Board now owns 301,071 shares of the semiconductor company’s stock worth $188,702,000 after buying an additional 155,240 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Lam Research by 9.7% in the 3rd quarter. Northern Trust Corp now owns 1,523,215 shares of the semiconductor company’s stock worth $954,705,000 after buying an additional 134,558 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX stock opened at $881.00 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84. Lam Research Co. has a fifty-two week low of $507.19 and a fifty-two week high of $1,007.39. The stock’s 50-day moving average is $942.92 and its two-hundred day moving average is $815.57. The firm has a market cap of $115.50 billion, a P/E ratio of 31.93, a PEG ratio of 2.78 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, topping the consensus estimate of $7.26 by $0.53. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the prior year, the firm posted $6.99 EPS. The business’s revenue was down 2.0% compared to the same quarter last year. Analysts predict that Lam Research Co. will post 29.62 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s payout ratio is currently 29.42%.

Analyst Upgrades and Downgrades

LRCX has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Lam Research in a research note on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 price objective on the stock. Wells Fargo & Company upped their target price on Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. Susquehanna reduced their target price on Lam Research from $880.00 to $850.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $1,030.00 target price on shares of Lam Research in a report on Thursday, April 25th. Finally, Raymond James upped their target price on Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $950.85.

Insiders Place Their Bets

In other Lam Research news, EVP Patrick J. Lord sold 60 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $921.54, for a total value of $55,292.40. Following the transaction, the executive vice president now directly owns 4,454 shares of the company’s stock, valued at approximately $4,104,539.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Christina Corrreia sold 647 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the transaction, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Patrick J. Lord sold 60 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $921.54, for a total value of $55,292.40. Following the transaction, the executive vice president now directly owns 4,454 shares in the company, valued at approximately $4,104,539.16. The disclosure for this sale can be found here. Insiders have sold a total of 7,089 shares of company stock valued at $6,614,781 in the last three months. Insiders own 0.32% of the company’s stock.

About Lam Research

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.