Aviance Capital Partners LLC Has $7.45 Million Position in Lam Research Co. (NASDAQ:LRCX)

Aviance Capital Partners LLC cut its holdings in Lam Research Co. (NASDAQ:LRCX) by 3.0% during the fourth quarter, Holdings Channel reports. The firm owned 9,505 shares of the semiconductor company’s stock after selling 299 shares during the quarter. Lam Research makes up 1.6% of Aviance Capital Partners LLC’s portfolio, making the stock its 9th biggest holding. Aviance Capital Partners LLC’s holdings in Lam Research were worth $7,445,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of LRCX. Valued Wealth Advisors LLC bought a new stake in shares of Lam Research in the 4th quarter valued at approximately $30,000. Orion Capital Management LLC bought a new stake in shares of Lam Research in the 3rd quarter worth about $25,000. BluePath Capital Management LLC purchased a new position in shares of Lam Research during the 3rd quarter worth about $28,000. Asset Dedication LLC grew 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 valued at $30,000 after purchasing an additional 17 shares during the last quarter. Finally, Rakuten Securities Inc. purchased a new stake in Lam Research in the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Activity at Lam Research

In other Lam Research news, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the sale, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Lam Research news, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the sale, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s 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 disclosure for this sale can be found here. Insiders sold 7,489 shares of company stock valued at $6,978,065 in the last three months. 0.32% of the stock is owned by insiders.

Lam Research Stock Up 1.8 %

Shares of NASDAQ LRCX traded up $16.01 during mid-day trading on Monday, reaching $924.54. 754,472 shares of the company were exchanged, compared to its average volume of 1,063,677. Lam Research Co. has a 1 year low of $512.09 and a 1 year high of $1,007.39. The firm has a 50-day moving average of $941.03 and a 200 day moving average of $822.52. The stock has a market cap of $120.87 billion, a price-to-earnings ratio of 34.00, a P/E/G ratio of 2.82 and a beta of 1.51. The company has a quick ratio of 1.84, a current ratio of 2.82 and a debt-to-equity ratio of 0.56.

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

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s dividend payout ratio is presently 29.42%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Stifel Nicolaus upped their target price on Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Wells Fargo & Company increased their target price on Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. boosted their target price on shares of Lam Research from $900.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, April 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. Finally, The Goldman Sachs Group boosted their price objective on shares of Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $950.85.

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.