Massachusetts Financial Services Co. MA Sells 275,413 Shares of Lam Research Co. (NASDAQ:LRCX)

Massachusetts Financial Services Co. MA trimmed its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 22.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 978,775 shares of the semiconductor company’s stock after selling 275,413 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.08% of Lam Research worth $798,759,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC lifted its position in shares of Lam Research by 13.5% in the 1st quarter. Axxcess Wealth Management LLC now owns 1,889 shares of the semiconductor company’s stock worth $1,835,000 after purchasing an additional 225 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Lam Research by 13.9% in the 1st quarter. Advisors Asset Management Inc. now owns 3,683 shares of the semiconductor company’s stock worth $3,578,000 after purchasing an additional 449 shares during the period. Capital International Investors lifted its position in shares of Lam Research by 116.7% in the 1st quarter. Capital International Investors now owns 10,295 shares of the semiconductor company’s stock worth $10,002,000 after purchasing an additional 5,544 shares during the period. Gabelli Funds LLC acquired a new position in shares of Lam Research during the 1st quarter valued at $276,000. Finally, Truvestments Capital LLC lifted its position in shares of Lam Research by 75.5% during the 1st quarter. Truvestments Capital LLC now owns 458 shares of the semiconductor company’s stock valued at $445,000 after acquiring an additional 197 shares during the period. 84.61% of the stock is owned by institutional investors.

Insider Activity at Lam Research

In other 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 value of $528,928.97. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on LRCX. Mizuho dropped their target price on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Citigroup dropped their target price on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research report on Monday, September 16th. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Stifel Nicolaus restated a “buy” rating and set a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Finally, Morgan Stanley decreased their price target on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Lam Research Price Performance

NASDAQ LRCX opened at $73.05 on Friday. The company has a market cap of $93.99 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 1.12 and a beta of 1.48. Lam Research Co. has a 52 week low of $68.72 and a 52 week high of $113.00. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The firm’s 50-day simple moving average is $76.97 and its two-hundred day simple moving average is $87.46.

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

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors 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 yield of 1.26%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio 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.