Lam Research Co. (NASDAQ:LRCX) Stock Position Decreased by Bleakley Financial Group LLC

Bleakley Financial Group LLC lessened its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 13.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,550 shares of the semiconductor company’s stock after selling 409 shares during the quarter. Bleakley Financial Group LLC’s holdings in Lam Research were worth $2,081,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. Wellington Management Group LLP boosted its stake in Lam Research by 98.5% during the 4th quarter. Wellington Management Group LLP now owns 39,781 shares of the semiconductor company’s stock valued at $31,159,000 after purchasing an additional 19,742 shares during the period. RFG Advisory LLC boosted its stake in Lam Research by 34.6% during the 1st quarter. RFG Advisory LLC now owns 615 shares of the semiconductor company’s stock valued at $597,000 after purchasing an additional 158 shares during the period. International Assets Investment Management LLC boosted its stake in Lam Research by 204.4% during the 1st quarter. International Assets Investment Management LLC now owns 1,236 shares of the semiconductor company’s stock valued at $1,214,000 after purchasing an additional 830 shares during the period. CHICAGO TRUST Co NA boosted its stake in Lam Research by 6.0% during the 1st quarter. CHICAGO TRUST Co NA now owns 2,268 shares of the semiconductor company’s stock valued at $2,204,000 after purchasing an additional 128 shares during the period. Finally, Range Financial Group LLC boosted its stake in Lam Research by 5.3% during the 1st quarter. Range Financial Group LLC now owns 317 shares of the semiconductor company’s stock valued at $308,000 after purchasing an additional 16 shares during the period. Institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Citigroup reduced their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. TD Cowen upped their price target on shares of Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Finally, Mizuho reduced their price target on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.28.

Lam Research Stock Down 0.4 %

NASDAQ LRCX opened at $72.84 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. The company’s 50 day simple moving average is $80.15 and its 200 day simple moving average is $90.48. Lam Research Co. has a 12 month low of $57.44 and a 12 month high of $113.00. The company has a market capitalization of $9.52 billion, a P/E ratio of 2.68, a PEG ratio of 1.75 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same quarter in the previous year, the business earned $0.60 earnings per share. The firm’s revenue was up 20.7% compared to the same quarter last year. Equities research analysts expect that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.26%. Lam Research’s dividend payout ratio is currently 3.38%.

Insider Activity

In other news, CAO Christina Correia sold 647 shares of the business’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 sale, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is owned by company insiders.

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.