Lam Research Co. (NASDAQ:LRCX) Position Reduced by Horizon Family Wealth Inc.

Horizon Family Wealth Inc. reduced its position in shares of Lam Research Co. (NASDAQ:LRCXFree Report) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 408 shares of the semiconductor company’s stock after selling 14 shares during the quarter. Horizon Family Wealth Inc.’s holdings in Lam Research were worth $320,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of LRCX. Allspring Global Investments Holdings LLC grew its holdings in Lam Research by 33.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 23,760 shares of the semiconductor company’s stock worth $14,892,000 after acquiring an additional 6,019 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in shares of Lam Research by 10.4% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 403 shares of the semiconductor company’s stock worth $253,000 after purchasing an additional 38 shares during the last quarter. Blue Bell Private Wealth Management LLC grew its stake in shares of Lam Research by 56.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 216 shares of the semiconductor company’s stock worth $135,000 after purchasing an additional 78 shares during the last quarter. Bank of Stockton raised its holdings in shares of Lam Research by 1.1% in the 3rd quarter. Bank of Stockton now owns 2,558 shares of the semiconductor company’s stock worth $1,497,000 after purchasing an additional 28 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Lam Research by 225.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 494 shares of the semiconductor company’s stock valued at $310,000 after purchasing an additional 342 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on LRCX shares. JPMorgan Chase & Co. upped their price target on Lam Research from $900.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Barclays boosted their target price on Lam Research from $825.00 to $865.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. UBS Group increased their price target on Lam Research from $1,130.00 to $1,150.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. TD Cowen boosted their price objective on Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, Mizuho raised their target price on shares of Lam Research from $935.00 to $960.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $957.95.

Read Our Latest Research Report on LRCX

Insiders Place Their Bets

In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the transaction, the director now directly owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the transaction, the director now directly owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider George M. Schisler sold 400 shares of the stock in a transaction 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 transaction, the insider now directly owns 5,661 shares in the company, valued at $5,141,376.81. The disclosure for this sale can be found here. Insiders have sold 7,489 shares of company stock valued at $6,978,065 over the last three months. 0.32% of the stock is currently owned by insiders.

Lam Research Stock Up 3.9 %

Shares of NASDAQ:LRCX traded up $35.21 during midday trading on Wednesday, hitting $947.75. 713,286 shares of the stock were exchanged, compared to its average volume of 1,030,671. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.84 and a current ratio of 2.82. Lam Research Co. has a 52-week low of $549.29 and a 52-week high of $1,007.39. The business’s fifty day simple moving average is $936.10 and its two-hundred day simple moving average is $835.98. The company has a market capitalization of $123.91 billion, a PE ratio of 34.44, a P/E/G ratio of 2.80 and a beta of 1.51.

Lam Research (NASDAQ:LRCXGet Free Report) last announced its quarterly earnings data 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. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The business had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period last year, the company earned $6.99 earnings per share. Lam Research’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, research analysts predict that Lam Research Co. will post 29.66 earnings per share for the current fiscal year.

Lam Research Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding LRCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lam Research Co. (NASDAQ:LRCXFree Report).

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

Receive News & Ratings for Lam Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lam Research and related companies with MarketBeat.com's FREE daily email newsletter.