Insider Selling: Lam Research Co. (NASDAQ:LRCX) SVP Sells 110,080 Shares of Stock

Lam Research Co. (NASDAQ:LRCX) SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Lam Research Price Performance

Lam Research stock traded down $3.15 during mid-day trading on Friday, hitting $85.87. 5,276,807 shares of the company traded hands, compared to its average volume of 12,210,961. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00. The stock has a market cap of $110.23 billion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 1.45 and a beta of 1.46. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The stock has a fifty day moving average price of $78.27 and a 200-day moving average price of $77.97.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, equities analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.07%. Lam Research’s dividend payout ratio is currently 27.95%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Mizuho lifted their target price on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Morgan Stanley boosted their price objective on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company boosted their price objective on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $98.22.

Institutional Investors Weigh In On Lam Research

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Perennial Advisors LLC bought a new stake in Lam Research during the 4th quarter valued at $1,894,000. AlphaCore Capital LLC purchased a new position in Lam Research during the 4th quarter valued at $208,000. Mackenzie Financial Corp increased its position in Lam Research by 932.6% during the 4th quarter. Mackenzie Financial Corp now owns 2,347,536 shares of the semiconductor company’s stock valued at $169,563,000 after purchasing an additional 2,120,197 shares during the period. Forum Financial Management LP increased its position in Lam Research by 1,658.8% during the 4th quarter. Forum Financial Management LP now owns 5,417 shares of the semiconductor company’s stock valued at $391,000 after purchasing an additional 5,109 shares during the period. Finally, Westfuller Advisors LLC increased its position in Lam Research by 817.7% during the 4th quarter. Westfuller Advisors LLC now owns 8,571 shares of the semiconductor company’s stock valued at $621,000 after purchasing an additional 7,637 shares during the period. 84.61% of the stock is currently owned by institutional investors.

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.