Lam Research Co. (NASDAQ:LRCX) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in Lam Research Co. (NASDAQ:LRCX) by 34.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,592 shares of the semiconductor company’s stock after selling 8,168 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Lam Research were worth $12,213,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Baird Financial Group Inc. grew its holdings in shares of 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 purchasing an additional 4,090 shares during the period. Zions Bancorporation N.A. grew its stake in Lam Research by 39.1% during the first quarter. Zions Bancorporation N.A. now owns 281 shares of the semiconductor company’s stock worth $151,000 after buying an additional 79 shares during the period. Brown Brothers Harriman & Co. increased its position in shares of Lam Research by 18.8% in the first quarter. Brown Brothers Harriman & Co. now owns 721 shares of the semiconductor company’s stock worth $388,000 after acquiring an additional 114 shares in the last quarter. Covestor Ltd raised its stake in shares of Lam Research by 51.9% in the 1st quarter. Covestor Ltd now owns 322 shares of the semiconductor company’s stock valued at $173,000 after acquiring an additional 110 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings 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 valued at $125,414,000 after acquiring an additional 24,636 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Stock Down 1.1 %

Shares of NASDAQ:LRCX opened at $946.17 on Tuesday. Lam Research Co. has a 1-year low of $482.74 and a 1-year high of $1,007.39. The company’s fifty day moving average is $941.93 and its two-hundred day moving average is $794.36. 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 stock has a market capitalization of $124.04 billion, a price-to-earnings ratio of 36.59, a price-to-earnings-growth ratio of 3.47 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, beating analysts’ consensus estimates of $7.06 by $0.46. The company had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.71 billion. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. Lam Research’s quarterly revenue was down 28.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.71 earnings per share. Equities analysts anticipate that Lam Research Co. will post 28.9 EPS for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors 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 0.85%. Lam Research’s dividend payout ratio (DPR) is presently 30.94%.

Analyst Ratings Changes

Several research firms have commented on LRCX. Deutsche Bank Aktiengesellschaft began coverage on Lam Research in a research report on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 price objective on the stock. TD Cowen upped their price target on Lam Research from $710.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Citigroup lifted their price objective on shares of Lam Research from $800.00 to $975.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Needham & Company LLC boosted their target price on shares of Lam Research from $800.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Finally, Wells Fargo & Company raised their price target on shares of Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $848.27.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’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 sale, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Abhijit Y. Talwalkar sold 882 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the 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 completion of the transaction, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,029 shares of company stock valued at $6,559,489. 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.