Gallacher Capital Management LLC Sells 104 Shares of Lam Research Co. (NASDAQ:LRCX)

Gallacher Capital Management LLC lowered its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 17.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 481 shares of the semiconductor company’s stock after selling 104 shares during the period. Gallacher Capital Management LLC’s holdings in Lam Research were worth $377,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Valued Wealth Advisors LLC acquired a new position in shares of Lam Research in the 4th quarter valued at $30,000. Orion Capital Management LLC bought a new stake in shares of Lam Research in the 3rd quarter valued at approximately $25,000. BluePath Capital Management LLC acquired a new position in shares of Lam Research in the 3rd quarter worth approximately $28,000. Asset Dedication LLC lifted its position in shares of Lam Research by 56.7% during the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after buying an additional 17 shares during the period. Finally, Rakuten Securities Inc. acquired a new stake in Lam Research in the 4th quarter valued at $38,000. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

LRCX has been the subject of a number of analyst reports. Citigroup lifted their price objective on Lam Research from $975.00 to $1,025.00 and gave the company a “buy” rating in a report on Thursday, April 25th. The Goldman Sachs Group raised their price target on Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a report on Thursday, January 25th. TD Cowen lifted their price target on Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Evercore ISI assumed coverage on shares of Lam Research in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Lam Research in a report on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average target price of $950.85.

Insider Activity at Lam Research

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were 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 approximately $20,380,648.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Abhijit Y. Talwalkar sold 882 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the sale, the director now owns 10,541 shares in the company, valued at approximately $10,246,168.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the 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 completion of the sale, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock worth $6,978,065 in the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Lam Research Trading Up 1.8 %

Shares of LRCX stock traded up $16.01 on Monday, hitting $924.54. The company had a trading volume of 576,903 shares, compared to its average volume of 1,058,433. The firm has a market cap of $120.87 billion, a P/E ratio of 34.04, a P/E/G ratio of 2.82 and a beta of 1.51. The stock’s 50-day moving average is $941.31 and its two-hundred day moving average is $820.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.84 and a current ratio of 2.82. Lam Research Co. has a twelve month low of $512.09 and a twelve month high of $1,007.39.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. 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 company’s quarterly revenue was down 2.0% on a year-over-year basis. On average, equities research analysts anticipate that Lam Research Co. will post 29.62 earnings per share for the current fiscal 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 paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s dividend payout ratio is 29.42%.

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.