Bogart Wealth LLC Cuts Stock Position in Lam Research Co. (NASDAQ:LRCX)

Bogart Wealth LLC lessened its position in shares of Lam Research Co. (NASDAQ:LRCX) by 7.8% in the 4th quarter, HoldingsChannel reports. The fund owned 154 shares of the semiconductor company’s stock after selling 13 shares during the period. Bogart Wealth LLC’s holdings in Lam Research were worth $121,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LRCX. Blue Whale Capital LLP boosted its position in shares of Lam Research by 0.7% in the 3rd quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock worth $70,386,000 after purchasing an additional 800 shares in the last quarter. Citizens Financial Group Inc. RI raised its stake in Lam Research by 20.9% in the fourth quarter. Citizens Financial Group Inc. RI now owns 491 shares of the semiconductor company’s stock valued at $384,000 after buying an additional 85 shares during the last quarter. Everence Capital Management Inc. boosted its holdings in Lam Research by 54.7% in the fourth quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock worth $3,190,000 after acquiring an additional 1,440 shares in the last quarter. Gradient Investments LLC grew its stake in shares of Lam Research by 32,411.1% during the fourth quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock worth $11,459,000 after acquiring an additional 14,585 shares during the last quarter. Finally, Contravisory Investment Management Inc. acquired a new position in shares of Lam Research during the fourth quarter valued at about $7,930,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on LRCX shares. Susquehanna lowered their target price on shares of Lam Research from $880.00 to $850.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Citigroup lifted their price objective on shares of Lam Research from $975.00 to $1,025.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. TD Cowen upped their target price on Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. lifted their price target on Lam Research from $900.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Finally, Barclays increased their price objective on Lam Research from $825.00 to $865.00 and gave the company an “equal weight” rating in a report on Thursday, April 25th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and an average price target of $950.85.

Lam Research Stock Performance

LRCX stock traded down $1.63 during midday trading on Wednesday, hitting $913.28. 553,936 shares of the stock traded hands, compared to its average volume of 1,053,578. The stock’s fifty day simple moving average is $940.71 and its 200-day simple moving average is $824.74. The firm has a market cap of $119.40 billion, a P/E ratio of 33.59, a PEG ratio of 2.82 and a beta of 1.51. Lam Research Co. has a 1-year low of $512.09 and a 1-year high of $1,007.39. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. The firm had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm earned $6.99 EPS. On average, analysts expect that Lam Research Co. will post 29.62 earnings per share for the current year.

Insider Transactions at Lam Research

In other Lam Research news, insider George M. Schisler sold 400 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $908.21, for a total transaction of $363,284.00. Following the transaction, the insider now directly owns 5,661 shares of the company’s stock, valued at $5,141,376.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Lam Research news, insider George M. Schisler sold 400 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $908.21, for a total transaction of $363,284.00. Following the completion of the sale, the insider now directly owns 5,661 shares in the company, valued at approximately $5,141,376.81. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Patrick J. Lord sold 60 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $921.54, for a total value of $55,292.40. Following the completion of the transaction, the executive vice president now owns 4,454 shares in the company, valued at approximately $4,104,539.16. The disclosure for this sale can be found here. Insiders sold a total of 7,489 shares of company stock valued at $6,978,065 in the last three months. 0.32% of the stock is currently 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.