Leuthold Group LLC Sells 5,184 Shares of Lam Research Co. (NASDAQ:LRCX)

Leuthold Group LLC cut its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 25.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,313 shares of the semiconductor company’s stock after selling 5,184 shares during the period. Lam Research makes up approximately 1.4% of Leuthold Group LLC’s investment portfolio, making the stock its 15th largest holding. Leuthold Group LLC’s holdings in Lam Research were worth $12,497,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Lam Research by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after acquiring an additional 144,914 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Lam Research by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after purchasing an additional 142,903 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Lam Research by 7.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock worth $1,335,522,000 after purchasing an additional 89,470 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Lam Research by 11.1% in the 2nd quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock valued at $1,145,664,000 after buying an additional 107,778 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Lam Research by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock worth $654,009,000 after buying an additional 25,362 shares during the period. Institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by insiders.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $78.50 on Monday. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average price is $79.21 and its two-hundred day moving average price is $89.66. The company has a market cap of $10.26 billion, a PE ratio of 2.86, a price-to-earnings-growth ratio of 1.89 and a beta of 1.47. Lam Research Co. has a twelve month low of $57.44 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The business had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same period in the previous year, the firm earned $6.85 EPS. The firm’s revenue was up 19.7% compared to the same quarter last year. On average, analysts predict that Lam Research Co. will post 3.23 EPS for the current year.

Lam Research Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Tuesday, September 17th. Lam Research’s dividend payout ratio is presently 3.38%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. UBS Group decreased their price objective on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Lam Research in a research report on Thursday. B. Riley reduced their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Mizuho dropped their price target on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Finally, Wells Fargo & Company cut their target price on Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.03.

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.