Lam Research Co. (NASDAQ:LRCX) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. decreased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 3.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,243 shares of the semiconductor company’s stock after selling 769 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Lam Research were worth $17,422,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in shares of Lam Research in the third quarter worth $25,000. BluePath Capital Management LLC purchased a new stake in Lam Research during the 3rd quarter worth $28,000. OFI Invest Asset Management purchased a new position in Lam Research in the third quarter valued at about $30,000. Asset Dedication LLC lifted its stake 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 worth $30,000 after purchasing an additional 17 shares in the last quarter. Finally, Valued Wealth Advisors LLC purchased a new stake in shares of Lam Research in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

NASDAQ:LRCX traded down $1.63 during midday trading on Wednesday, hitting $913.28. 553,936 shares of the stock were exchanged, compared to its average volume of 1,053,578. Lam Research Co. has a one year low of $512.09 and a one year high of $1,007.39. The company has a market capitalization of $119.40 billion, a price-to-earnings ratio of 33.59, a P/E/G ratio of 2.82 and a beta of 1.51. The business has a 50-day moving average price of $940.71 and a two-hundred day moving average price of $824.74. The company has a current ratio of 2.82, a quick ratio of 1.84 and a debt-to-equity ratio of 0.56.

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

Insiders Place Their Bets

In other Lam Research news, insider George M. Schisler sold 400 shares of Lam Research stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $908.21, for a total value of $363,284.00. Following the transaction, the insider now owns 5,661 shares in the company, valued at $5,141,376.81. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Lam Research news, insider George M. Schisler sold 400 shares of Lam Research stock in a transaction that occurred 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 in the company, valued at approximately $5,141,376.81. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction that occurred on Monday, March 18th. The stock was 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 $20,380,648.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,489 shares of company stock worth $6,978,065. 0.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

LRCX has been the subject of several analyst reports. Citigroup upped their target price on shares of Lam Research from $975.00 to $1,025.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Cantor Fitzgerald reiterated a “neutral” rating and set a $1,100.00 price objective on shares of Lam Research in a research note on Thursday, April 25th. Needham & Company LLC reissued a “buy” rating and issued a $1,030.00 target price on shares of Lam Research in a research report on Thursday, April 25th. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Susquehanna cut their price objective on Lam Research from $880.00 to $850.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $950.85.

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.