Lam Research Co. (NASDAQ:LRCX) Shares Bought by First Horizon Advisors Inc.

First Horizon Advisors Inc. boosted its holdings in Lam Research Co. (NASDAQ:LRCX) by 11.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 354 shares of the semiconductor company’s stock after acquiring an additional 36 shares during the period. First Horizon Advisors Inc.’s holdings in Lam Research were worth $278,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in LRCX. Orion Capital Management LLC acquired a new stake in shares of Lam Research in the third quarter valued at approximately $25,000. BluePath Capital Management LLC purchased a new stake in Lam Research in the 3rd quarter valued at approximately $28,000. OFI Invest Asset Management acquired a new stake in Lam Research during the 3rd quarter valued at $30,000. Asset Dedication LLC increased its position in Lam Research by 56.7% during the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after buying an additional 17 shares in the last quarter. Finally, Valued Wealth Advisors LLC purchased a new position in Lam Research during the fourth quarter worth $30,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, 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 transaction of $55,292.40. Following the transaction, the executive vice president now owns 4,454 shares of the company’s stock, valued at $4,104,539.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction 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 transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,089 shares of company stock valued at $6,614,781. 0.32% of the stock is currently owned by insiders.

Lam Research Trading Up 2.8 %

Shares of LRCX opened at $908.53 on Monday. Lam Research Co. has a 12 month low of $507.19 and a 12 month high of $1,007.39. 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 current ratio of 2.82 and a quick ratio of 1.84. The stock has a market cap of $118.78 billion, a PE ratio of 33.41, a P/E/G ratio of 2.82 and a beta of 1.51.

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

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders 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 dividend yield of 0.88%. Lam Research’s dividend payout ratio is presently 29.42%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on LRCX shares. The Goldman Sachs Group increased their price objective on Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Raymond James raised their price target on shares of Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Citigroup boosted their price objective on shares of Lam Research from $975.00 to $1,025.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of Lam Research in a research report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 target price on the stock. Finally, TD Cowen boosted their price target on Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $950.85.

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.