Continuum Wealth Advisors LLC Sells 400 Shares of Lam Research Co. (NASDAQ:LRCX)

Continuum Wealth Advisors LLC trimmed its position in Lam Research Co. (NASDAQ:LRCX) by 36.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 701 shares of the semiconductor company’s stock after selling 400 shares during the period. Lam Research accounts for approximately 0.4% of Continuum Wealth Advisors LLC’s investment portfolio, making the stock its 22nd biggest position. Continuum Wealth Advisors LLC’s holdings in Lam Research were worth $549,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LRCX. Baird Financial Group Inc. grew its holdings in Lam Research by 11.5% during the 1st quarter. Baird Financial Group Inc. now owns 39,514 shares of the semiconductor company’s stock worth $21,243,000 after acquiring an additional 4,090 shares during the period. Zions Bancorporation N.A. grew its holdings in Lam Research by 39.1% during the 1st quarter. Zions Bancorporation N.A. now owns 281 shares of the semiconductor company’s stock worth $151,000 after acquiring an additional 79 shares during the period. Brown Brothers Harriman & Co. grew its holdings in 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 acquiring an additional 114 shares during the period. Covestor Ltd grew its holdings in 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 acquiring an additional 110 shares during the period. Finally, Mackenzie Financial Corp boosted its position 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 in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. TD Cowen increased their price objective on shares of Lam Research from $710.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Mizuho increased their price objective on shares of Lam Research from $900.00 to $935.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Stifel Nicolaus increased their price objective on shares of Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Lam Research in a research report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 price objective on the stock. Finally, Barclays raised their price target on shares of Lam Research from $750.00 to $825.00 and gave the company an “equal weight” rating in a research report on Thursday, January 25th. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $875.55.

Lam Research Price Performance

Shares of NASDAQ LRCX traded down $50.97 during mid-day trading on Wednesday, reaching $912.26. 1,649,933 shares of the company were exchanged, compared to its average volume of 1,026,313. Lam Research Co. has a 52 week low of $482.74 and a 52 week high of $1,007.39. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $119.60 billion, a PE ratio of 37.25, a PEG ratio of 3.43 and a beta of 1.51. The company’s 50 day moving average price is $944.50 and its 200 day moving average price is $796.73.

Lam Research (NASDAQ:LRCX) last posted 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. The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm’s revenue for the quarter was down 28.8% on a year-over-year basis. During the same period in the previous year, the firm posted $10.71 earnings per share. Sell-side analysts forecast that Lam Research Co. will post 28.9 earnings per share for the current fiscal 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 paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s dividend payout ratio is presently 30.94%.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the transaction, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the transaction, the chief accounting officer now owns 5,541 shares in the company, valued at $5,386,018.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the transaction, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,029 shares of company stock worth $6,559,489. 0.32% of the stock is currently owned by company insiders.

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.