Lam Research Co. (NASDAQ:LRCX) SVP Seshasayee Varadarajan Sells 110,080 Shares of Stock

Lam Research Co. (NASDAQ:LRCX) SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Lam Research Trading Down 3.4 %

NASDAQ:LRCX opened at $86.02 on Friday. The firm has a market capitalization of $110.42 billion, a P/E ratio of 26.13, a P/E/G ratio of 1.45 and a beta of 1.46. The business has a 50 day simple moving average of $78.46 and a 200 day simple moving average of $78.03. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Equities research analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.07%. Lam Research’s payout ratio is currently 27.95%.

Analyst Upgrades and Downgrades

LRCX has been the subject of a number of analyst reports. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and upped their price objective for the company from $75.00 to $125.00 in a research report on Thursday. Cantor Fitzgerald restated an “overweight” rating and set a $100.00 price objective on shares of Lam Research in a research note on Tuesday. Morgan Stanley upped their target price on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group cut their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $98.22.

Institutional Investors Weigh In On Lam Research

A number of hedge funds have recently made changes to their positions in LRCX. Cypress Capital Group increased its position in Lam Research by 3.7% in the 3rd quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock valued at $2,987,000 after acquiring an additional 132 shares during the period. Savvy Advisors Inc. increased its holdings in shares of Lam Research by 58.3% during the third quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock valued at $297,000 after purchasing an additional 134 shares during the period. West Oak Capital LLC raised its stake in shares of Lam Research by 50.9% during the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 135 shares in the last quarter. Baldwin Investment Management LLC lifted its holdings in Lam Research by 1.4% in the third quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock worth $8,364,000 after purchasing an additional 137 shares during the period. Finally, Bedell Frazier Investment Counselling LLC grew its position in Lam Research by 10.1% in the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company’s stock valued at $1,272,000 after buying an additional 143 shares in the last quarter. Institutional investors own 84.61% 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.