Lam Research Co. (NASDAQ:LRCX) Shares Sold by L & S Advisors Inc

L & S Advisors Inc trimmed its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 6.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,264 shares of the semiconductor company’s stock after selling 732 shares during the period. L & S Advisors Inc’s holdings in Lam Research were worth $8,376,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. acquired a new stake in Lam Research during the 2nd quarter valued at approximately $32,000. RFP Financial Group LLC increased its holdings in shares of Lam Research by 52.2% during the 2nd 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 purchased a new position in shares of Lam Research during the 2nd quarter valued at approximately $40,000. Country Trust Bank purchased a new position in shares of Lam Research during the 2nd quarter valued at approximately $43,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of Lam Research during the 2nd quarter valued at approximately $45,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several recent analyst reports. TD Cowen boosted their price target on shares of Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. BNP Paribas raised shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. UBS Group dropped their target price on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Morgan Stanley dropped their target price on shares of 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, Stifel Nicolaus reissued a “buy” rating and set a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $97.03.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated 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 owns 4,267 shares in the company, valued at approximately $3,488,315.17. This trade represents a 13.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.29% of the company’s stock.

Lam Research Price Performance

LRCX stock opened at $70.90 on Thursday. The company has a market capitalization of $91.23 billion, a P/E ratio of 22.64, a PEG ratio of 1.12 and a beta of 1.48. Lam Research Co. has a twelve month low of $68.72 and a twelve month high of $113.00. The business has a 50 day simple moving average of $77.04 and a 200-day simple moving average of $87.56. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The firm had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same period last year, the company earned $6.85 earnings per share. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. As a group, equities analysts anticipate that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is currently 29.74%.

Lam Research 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.