Lam Research Co. (LRCX) Shares Sold by Bowling Portfolio Management LLC

Bowling Portfolio Management LLC cut its position in Lam Research Co. (NASDAQ:LRCX) by 75.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,216 shares of the semiconductor company’s stock after selling 6,779 shares during the period. Bowling Portfolio Management LLC’s holdings in Lam Research were worth $397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Central Bank & Trust Co. boosted its stake in shares of Lam Research by 0.3% in the third quarter. Central Bank & Trust Co. now owns 33,016 shares of the semiconductor company’s stock worth $5,008,000 after acquiring an additional 111 shares during the last quarter. BlackRock Inc. boosted its stake in Lam Research by 1.6% during the fourth quarter. BlackRock Inc. now owns 11,429,062 shares of the semiconductor company’s stock worth $1,556,294,000 after buying an additional 178,331 shares during the last quarter. Weiss Multi Strategy Advisers LLC acquired a new position in Lam Research during the fourth quarter worth $3,404,000. Dupont Capital Management Corp boosted its stake in Lam Research by 4.6% during the fourth quarter. Dupont Capital Management Corp now owns 30,242 shares of the semiconductor company’s stock worth $4,118,000 after buying an additional 1,325 shares during the last quarter. Finally, Lcnb Corp acquired a new position in Lam Research during the fourth quarter worth $204,000. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Lam Research stock opened at $194.77 on Friday. Lam Research Co. has a 52 week low of $122.64 and a 52 week high of $209.92. The firm has a market capitalization of $29.72 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 1.16 and a beta of 1.52. The company has a current ratio of 3.39, a quick ratio of 2.61 and a debt-to-equity ratio of 0.31.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 23rd. The semiconductor company reported $3.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.67 by $0.20. Lam Research had a return on equity of 48.08% and a net margin of 26.69%. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the company posted $4.34 EPS. The company’s quarterly revenue was down 2.2% on a year-over-year basis. Equities analysts forecast that Lam Research Co. will post 13.89 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Wednesday, March 20th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Tuesday, March 19th. Lam Research’s dividend payout ratio (DPR) is presently 24.62%.

Lam Research announced that its board has initiated a stock buyback plan on Wednesday, January 23rd that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to reacquire up to 23% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

LRCX has been the topic of a number of recent research reports. Credit Suisse Group reissued a “buy” rating and set a $278.00 price objective on shares of Lam Research in a research note on Monday, January 21st. Royal Bank of Canada raised Lam Research from a “sector perform” rating to an “outperform” rating and set a $190.00 price objective on the stock in a research note on Tuesday, January 29th. Citigroup reissued a “buy” rating and set a $215.00 price objective (up previously from $177.00) on shares of Lam Research in a research note on Friday, March 15th. Morgan Stanley lowered Lam Research from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 22nd. Finally, KeyCorp lowered their price objective on Lam Research from $231.00 to $223.00 and set an “overweight” rating on the stock in a research note on Thursday, January 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the stock. Lam Research currently has an average rating of “Hold” and an average target price of $214.06.

In related news, SVP Kevin Jennings sold 1,692 shares of the business’s stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $180.00, for a total value of $304,560.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Christine Heckart sold 2,050 shares of the business’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $172.98, for a total value of $354,609.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,476 shares of company stock worth $4,654,783. Corporate insiders own 0.44% of the company’s stock.

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About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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