Carret Asset Management LLC Trims Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Carret Asset Management LLC trimmed its holdings in Lam Research Co. (NASDAQ:LRCX) by 1.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,260 shares of the semiconductor company’s stock after selling 159 shares during the period. Lam Research comprises approximately 0.9% of Carret Asset Management LLC’s portfolio, making the stock its 21st largest holding. Carret Asset Management LLC’s holdings in Lam Research were worth $7,253,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Arlington Trust Co LLC raised its holdings in shares of Lam Research by 7.7% in the fourth quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock worth $143,000 after buying an additional 13 shares during the period. CNB Bank increased its holdings in Lam Research by 1.4% during the 4th quarter. CNB Bank now owns 1,032 shares of the semiconductor company’s stock worth $808,000 after purchasing an additional 14 shares during the period. TRUE Private Wealth Advisors increased its holdings in Lam Research by 4.1% during the 4th quarter. TRUE Private Wealth Advisors now owns 378 shares of the semiconductor company’s stock worth $296,000 after purchasing an additional 15 shares during the period. Clear Creek Financial Management LLC increased its holdings in Lam Research by 1.3% during the 3rd quarter. Clear Creek Financial Management LLC now owns 1,342 shares of the semiconductor company’s stock worth $841,000 after purchasing an additional 17 shares during the period. Finally, Asset Dedication LLC increased its holdings in 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 purchasing an additional 17 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research 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 in the company, valued at approximately $20,380,648.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research 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 in the company, valued at approximately $20,380,648.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the sale, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The disclosure for this sale can be found here. Insiders sold a total of 7,029 shares of company stock worth $6,559,489 in the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Lam Research Stock Performance

Shares of NASDAQ LRCX traded down $2.53 during trading on Wednesday, reaching $884.89. 1,946,455 shares of the company traded hands, compared to its average volume of 1,068,471. The firm’s fifty day simple moving average is $944.54 and its 200 day simple moving average is $805.82. The stock has a market cap of $116.01 billion, a P/E ratio of 34.32, a PEG ratio of 3.14 and a beta of 1.51. Lam Research Co. has a 12-month low of $493.42 and a 12-month high of $1,007.39. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating analysts’ consensus estimates of $7.06 by $0.46. The business had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.71 billion. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The company’s revenue was down 28.8% on a year-over-year basis. During the same quarter last year, the business posted $10.71 EPS. As a group, research analysts anticipate that Lam Research Co. will post 28.92 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were paid a $2.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 annualized dividend and a dividend yield of 0.90%. Lam Research’s dividend payout ratio is presently 30.94%.

Analyst Ratings Changes

A number of analysts have recently weighed in on LRCX shares. Citigroup raised their price objective on Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. UBS Group raised their price objective on Lam Research from $885.00 to $1,130.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Raymond James raised their price objective on Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Mizuho lifted their price target on Lam Research from $900.00 to $935.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Finally, B. Riley raised Lam Research from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $870.00 to $1,100.00 in a research report on Friday, April 19th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $931.85.

Lam Research Company 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.