Lam Research Co. (NASDAQ:LRCX) Shares Sold by Jennison Associates LLC

Jennison Associates LLC decreased its holdings in Lam Research Co. (NASDAQ:LRCXGet Rating) by 0.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 227,544 shares of the semiconductor company’s stock after selling 247 shares during the quarter. Jennison Associates LLC’s holdings in Lam Research were worth $163,638,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Missouri Trust & Investment Co purchased a new position in shares of Lam Research during the 4th quarter valued at $25,000. Cedar Wealth Management LLC purchased a new position in shares of Lam Research during the 3rd quarter valued at $25,000. D Orazio & Associates Inc. acquired a new stake in shares of Lam Research in the 3rd quarter valued at $26,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Lam Research in the 4th quarter valued at $36,000. Finally, Paragon Capital Management Ltd acquired a new stake in shares of Lam Research in the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Lam Research stock traded down $18.73 during trading hours on Friday, hitting $465.76. 1,405,094 shares of the stock were exchanged, compared to its average volume of 1,420,017. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.00 and a current ratio of 2.83. The stock has a market capitalization of $64.61 billion, a P/E ratio of 14.56, a P/E/G ratio of 0.93 and a beta of 1.24. Lam Research Co. has a 12 month low of $449.50 and a 12 month high of $731.85. The business’s 50-day moving average is $511.05 and its two-hundred day moving average is $590.78.

Lam Research (NASDAQ:LRCXGet Rating) last issued its quarterly earnings data on Wednesday, April 20th. The semiconductor company reported $7.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $7.51 by ($0.11). The firm had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.24 billion. Lam Research had a return on equity of 75.51% and a net margin of 27.13%. Lam Research’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted $7.49 earnings per share. On average, equities analysts predict that Lam Research Co. will post 31.61 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 6th. Stockholders of record on Wednesday, March 16th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Tuesday, March 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.29%. Lam Research’s payout ratio is 18.76%.

A number of research firms have weighed in on LRCX. Zacks Investment Research lowered shares of Lam Research from a “buy” rating to a “hold” rating and set a $583.00 target price for the company. in a research report on Friday, January 28th. Mizuho cut their target price on shares of Lam Research from $725.00 to $675.00 and set a “buy” rating for the company in a research report on Thursday, April 21st. Piper Sandler cut their target price on shares of Lam Research from $627.00 to $596.00 and set a “neutral” rating for the company in a research report on Thursday, April 21st. Barclays cut their target price on shares of Lam Research from $700.00 to $625.00 and set an “overweight” rating for the company in a research report on Thursday, April 21st. Finally, Berenberg Bank boosted their target price on shares of Lam Research from $790.00 to $840.00 in a research report on Tuesday, January 18th. Twelve research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $670.90.

In related news, SVP Scott Gerald Meikle sold 700 shares of the stock in a transaction that occurred on Tuesday, February 1st. The shares were sold at an average price of $590.00, for a total value of $413,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Catherine P. Lego acquired 1,736 shares of the business’s stock in a transaction that occurred on Tuesday, April 26th. The stock was acquired at an average price of $460.35 per share, for a total transaction of $799,167.60. Following the completion of the acquisition, the director now directly owns 49,991 shares of the company’s stock, valued at $23,013,356.85. The disclosure for this purchase can be found here. Insiders have sold 1,937 shares of company stock worth $1,092,843 over the last quarter. 0.34% of the stock is owned by company insiders.

About Lam Research (Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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