Yousif Capital Management LLC Cuts Position in Lam Research Co. (NASDAQ:LRCX)

Yousif Capital Management LLC decreased its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 8.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 19,392 shares of the semiconductor company's stock after selling 1,823 shares during the period. Yousif Capital Management LLC's holdings in Lam Research were worth $15,189,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in LRCX. Capital Investment Advisors LLC bought a new stake in Lam Research during the 3rd quarter valued at approximately $410,000. Meridian Wealth Management LLC lifted its position in shares of Lam Research by 93.3% in the 3rd quarter. Meridian Wealth Management LLC now owns 1,620 shares of the semiconductor company's stock worth $1,016,000 after acquiring an additional 782 shares during the period. Nikulski Financial Inc. lifted its position in shares of Lam Research by 10.4% in the 3rd quarter. Nikulski Financial Inc. now owns 4,469 shares of the semiconductor company's stock worth $2,801,000 after acquiring an additional 422 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of Lam Research by 28.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,458 shares of the semiconductor company's stock worth $1,541,000 after acquiring an additional 549 shares during the period. Finally, Strategic Blueprint LLC lifted its position in shares of Lam Research by 18.2% in the 3rd quarter. Strategic Blueprint LLC now owns 1,137 shares of the semiconductor company's stock worth $713,000 after acquiring an additional 175 shares during the period. Institutional investors own 84.61% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on LRCX shares. 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. Evercore ISI began coverage on Lam Research in a report on Tuesday, April 16th. They issued an "outperform" rating and a $1,200.00 target price for the company. TD Cowen increased their target price on Lam Research from $710.00 to $975.00 and gave the stock an "outperform" rating in a report on Thursday, January 25th. Mizuho increased their target price on Lam Research from $900.00 to $935.00 and gave the stock a "buy" rating in a report on Thursday, January 25th. Finally, Citigroup increased their target price on Lam Research from $800.00 to $975.00 and gave the stock a "buy" rating in a report on Thursday, January 25th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Lam Research currently has a consensus rating of "Moderate Buy" and a consensus price target of $931.85.

Lam Research Trading Down 0.3 %

LRCX stock traded down $2.53 during midday trading on Wednesday, hitting $884.89. 1,946,455 shares of the company's stock were exchanged, compared to its average volume of 1,068,471. The stock's fifty day moving average price is $943.93 and its 200-day moving average price is $806.38. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The company has a market cap of $116.01 billion, a PE ratio of 34.22, a price-to-earnings-growth ratio of 3.14 and a beta of 1.51. Lam Research Co. has a one year low of $493.42 and a one year high of $1,007.39.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its 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. The firm had revenue of $3.76 billion for 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 for the quarter was down 28.8% on a year-over-year basis. During the same period in the previous year, the company posted $10.71 earnings per share. Research analysts predict that Lam Research Co. will post 28.92 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.90%. Lam Research's dividend payout ratio (DPR) is 30.94%.

Insider Activity

In other news, Director Abhijit Y. Talwalkar sold 882 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 value of $857,330.46. Following the sale, the director now directly owns 10,541 shares in the company, valued at $10,246,168.23. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the sale, the director now owns 10,541 shares of the company's stock, valued at $10,246,168.23. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $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 over the last three months. Corporate insiders own 0.32% of the company's stock.

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.