Cercano Management LLC Buys New Stake in Lam Research Co. (NASDAQ:LRCX)

Cercano Management LLC purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,560 shares of the semiconductor company's stock, valued at approximately $618,000.

Several other large investors have also recently added to or reduced their stakes in LRCX. West Oak Capital LLC raised its holdings in Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company's stock valued at $29,000 after buying an additional 135 shares during the period. Diversified Trust Co increased its position in shares of Lam Research by 8.3% in the fourth quarter. Diversified Trust Co now owns 3,741 shares of the semiconductor company's stock worth $270,000 after acquiring an additional 286 shares in the last quarter. McLean Asset Management Corp increased its position in shares of Lam Research by 6.3% in the fourth quarter. McLean Asset Management Corp now owns 5,122 shares of the semiconductor company's stock worth $370,000 after acquiring an additional 302 shares in the last quarter. Fairway Wealth LLC raised its stake in shares of Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 306 shares during the period. Finally, Householder Group Estate & Retirement Specialist LLC lifted its holdings in shares of Lam Research by 159.1% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company's stock valued at $36,000 after acquiring an additional 307 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the sale, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. TD Securities cut their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company dropped their target price on Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Stifel Nicolaus decreased their price target on Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. TD Cowen dropped their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Bank of America reduced their target price on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Lam Research presently has a consensus rating of "Moderate Buy" and a consensus target price of $91.56.

Lam Research Stock Performance

Lam Research stock opened at $73.91 on Tuesday. 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 $56.32 and a 12 month high of $113.00. The company has a fifty day moving average price of $71.68 and a two-hundred day moving average price of $75.17. The company has a market cap of $94.54 billion, a PE ratio of 22.45, a P/E/G ratio of 1.47 and a beta of 1.64.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. The business had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The company's quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the business posted $7.79 EPS. Research analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research's payout ratio is 25.63%.

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.

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