Northwest Bancshares Inc. Cuts Stake in Lam Research Co. (NASDAQ:LRCX)

Northwest Bancshares Inc. lowered its position in shares of Lam Research Co. (NASDAQ:LRCX) by 8.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,294 shares of the semiconductor company’s stock after selling 710 shares during the period. Lam Research comprises approximately 1.0% of Northwest Bancshares Inc.’s holdings, making the stock its 26th largest holding. Northwest Bancshares Inc.’s holdings in Lam Research were worth $5,952,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in LRCX. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Lam Research during the second quarter valued at $32,000. RFP Financial Group LLC boosted its position in Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in Lam Research during the second quarter valued at about $40,000. Country Trust Bank bought a new stake in Lam Research during the second quarter valued at about $43,000. Finally, MFA Wealth Advisors LLC bought a new stake in Lam Research during the second quarter valued at about $45,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Down 0.6 %

Lam Research stock opened at $70.17 on Wednesday. The stock has a market capitalization of $90.29 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 1.11 and a beta of 1.48. Lam Research Co. has a 12 month low of $68.72 and a 12 month high of $113.00. The business has a 50 day simple moving average of $77.10 and a 200-day simple moving average of $87.70. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business’s revenue was up 19.7% compared to the same quarter last year. During the same period in the previous year, the business earned $6.85 earnings per share. On average, analysts anticipate that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio is presently 29.74%.

Insider Buying and Selling

In related news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 approximately $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on LRCX shares. Citigroup dropped their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research report on Monday, September 16th. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price target (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. B. Riley lowered their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Morgan Stanley lowered their price target on Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Finally, BNP Paribas raised Lam Research to a “hold” rating in a report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $97.03.

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.