Seshasayee Varadarajan Sells 110,080 Shares of Lam Research Co. (NASDAQ:LRCX) Stock

Lam Research Co. (NASDAQ:LRCX) SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Lam Research Price Performance

NASDAQ:LRCX opened at $86.02 on Friday. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00. 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 firm has a market cap of $110.42 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.47 and a beta of 1.46. The firm’s fifty day moving average is $78.46 and its two-hundred day moving average is $78.04.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Research analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.07%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

Analysts Set New Price Targets

LRCX has been the subject of a number of recent research reports. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $75.00 to $125.00 in a research note on Thursday. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of Lam Research in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group reduced their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and an average target price of $98.22.

Institutional Investors Weigh In On Lam Research

Several hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its position in shares of Lam Research by 39.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 19,338 shares of the semiconductor company’s stock worth $15,781,000 after acquiring an additional 5,484 shares during the period. Eastern Bank raised its position in shares of Lam Research by 54.9% in the third quarter. Eastern Bank now owns 522 shares of the semiconductor company’s stock worth $426,000 after acquiring an additional 185 shares during the period. Private Advisor Group LLC raised its position in shares of Lam Research by 8.1% in the third quarter. Private Advisor Group LLC now owns 6,374 shares of the semiconductor company’s stock worth $5,201,000 after acquiring an additional 480 shares during the period. Commerzbank Aktiengesellschaft FI raised its position in shares of Lam Research by 37.1% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 780 shares of the semiconductor company’s stock worth $637,000 after acquiring an additional 211 shares during the period. Finally, Hennion & Walsh Asset Management Inc. raised its position in shares of Lam Research by 38.6% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 3,124 shares of the semiconductor company’s stock worth $2,549,000 after acquiring an additional 870 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Company 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.