Lam Research Co. (NASDAQ:LRCX) Position Reduced by Federated Hermes Inc.

Federated Hermes Inc. trimmed its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 12.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,958 shares of the semiconductor company's stock after selling 7,396 shares during the quarter. Federated Hermes Inc.'s holdings in Lam Research were worth $42,263,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in LRCX. Baird Financial Group Inc. lifted its holdings in shares of Lam Research by 11.5% in the 1st quarter. Baird Financial Group Inc. now owns 39,514 shares of the semiconductor company's stock worth $21,243,000 after buying an additional 4,090 shares during the period. Zions Bancorporation N.A. lifted its holdings in shares of Lam Research by 39.1% in the 1st quarter. Zions Bancorporation N.A. now owns 281 shares of the semiconductor company's stock worth $151,000 after buying an additional 79 shares during the period. Brown Brothers Harriman & Co. lifted its stake in shares of Lam Research by 18.8% during the 1st quarter. Brown Brothers Harriman & Co. now owns 721 shares of the semiconductor company's stock worth $388,000 after purchasing an additional 114 shares during the last quarter. Covestor Ltd lifted its stake in shares of Lam Research by 51.9% during the 1st quarter. Covestor Ltd now owns 322 shares of the semiconductor company's stock worth $173,000 after purchasing an additional 110 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of Lam Research by 11.8% during the 1st quarter. Mackenzie Financial Corp now owns 233,280 shares of the semiconductor company's stock worth $125,414,000 after purchasing an additional 24,636 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Mizuho upped their price objective on Lam Research from $900.00 to $935.00 and gave the stock a "buy" rating in a research note on Thursday, January 25th. Evercore ISI assumed coverage on Lam Research in a research note on Tuesday. They set an "outperform" rating and a $1,200.00 price objective for the company. Barclays upped their price objective on Lam Research from $750.00 to $825.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 25th. Wells Fargo & Company upped their target price on Lam Research from $930.00 to $980.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Lam Research in a research report on Thursday, April 11th. They set a "hold" rating and a $1,000.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $899.64.

Lam Research Price Performance

Shares of NASDAQ:LRCX traded down $18.67 during trading on Friday, reaching $870.25. The stock had a trading volume of 1,354,476 shares, compared to its average volume of 814,695. The business has a fifty day moving average price of $945.44 and a 200-day moving average price of $801.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. Lam Research Co. has a 1-year low of $493.42 and a 1-year high of $1,007.39. The stock has a market cap of $114.09 billion, a PE ratio of 33.65, a PEG ratio of 3.22 and a beta of 1.51.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, topping the consensus estimate of $7.06 by $0.46. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The company had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the prior year, the business earned $10.71 EPS. Lam Research's revenue was down 28.8% on a year-over-year basis. On average, equities analysts forecast that Lam Research Co. will post 28.92 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were issued a dividend of $2.00 per share. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.92%. Lam Research's dividend payout ratio (DPR) is 30.94%.

Insiders Place Their Bets

In other news, Director Abhijit Y. Talwalkar sold 882 shares of the company'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 $857,330.46. Following the completion of the transaction, the director now directly owns 10,541 shares of the company's stock, valued at approximately $10,246,168.23. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Abhijit Y. Talwalkar sold 882 shares of the company'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 $857,330.46. Following the completion of the transaction, the director now directly owns 10,541 shares of the company's stock, valued at approximately $10,246,168.23. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Christina Corrreia sold 647 shares of the company's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the transaction, the chief accounting officer now directly 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 have sold a total of 7,029 shares of company stock worth $6,559,489 in the last quarter. 0.32% of the stock is owned by company insiders.

Lam Research 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.