Palouse Capital Management Inc. Sells 347 Shares of Lam Research Co. (NASDAQ:LRCX)

Palouse Capital Management Inc. cut its stake in Lam Research Co. (NASDAQ:LRCX) by 11.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,576 shares of the semiconductor company’s stock after selling 347 shares during the quarter. Lam Research accounts for about 1.4% of Palouse Capital Management Inc.’s investment portfolio, making the stock its 29th largest holding. Palouse Capital Management Inc.’s holdings in Lam Research were worth $2,018,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Orion Capital Management LLC bought a new stake in Lam Research in the third quarter worth $25,000. BluePath Capital Management LLC purchased a new stake in shares of Lam Research during the third quarter valued at about $28,000. OFI Invest Asset Management purchased a new stake in shares of Lam Research during the third quarter valued at about $30,000. Asset Dedication LLC lifted its position in shares of Lam Research by 56.7% during the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 17 shares during the last quarter. Finally, Valued Wealth Advisors LLC purchased a new stake in shares of Lam Research during the fourth quarter valued at about $30,000. 84.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $628,903.41. Following the transaction, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock worth $6,559,489 in the last three months. 0.32% of the stock is owned by insiders.

Lam Research Trading Down 2.1 %

Shares of NASDAQ LRCX traded down $18.67 during midday trading on Friday, hitting $870.25. The stock had a trading volume of 1,353,169 shares, compared to its average volume of 1,047,720. The company has a market capitalization of $114.09 billion, a price-to-earnings ratio of 33.65, a PEG ratio of 3.30 and a beta of 1.51. Lam Research Co. has a 1-year low of $493.42 and a 1-year 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 company has a fifty day moving average price of $945.44 and a 200 day moving average price of $799.83.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating the consensus estimate of $7.06 by $0.46. The business 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 was down 28.8% compared to the same quarter last year. During the same period in the previous year, the company posted $10.71 EPS. On average, analysts predict that Lam Research Co. will post 28.9 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed 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 of this dividend was Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.92%. Lam Research’s dividend payout ratio is presently 30.94%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Raymond James increased their price objective on shares of Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Evercore ISI started coverage on shares of Lam Research in a research report on Tuesday. They issued an “outperform” rating and a $1,200.00 price objective for the company. The Goldman Sachs Group increased their price target on shares of Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Cantor Fitzgerald increased their price target on shares of Lam Research from $900.00 to $1,100.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, Stifel Nicolaus increased their price target on shares of Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a report on Tuesday. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $899.64.

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.