CENTRAL TRUST Co Has $2.11 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

CENTRAL TRUST Co cut its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 19.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,583 shares of the semiconductor company’s stock after selling 624 shares during the period. CENTRAL TRUST Co’s holdings in Lam Research were worth $2,108,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. boosted its stake in Lam Research by 38.6% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 3,124 shares of the semiconductor company’s stock valued at $2,549,000 after buying an additional 870 shares in the last quarter. Greenleaf Trust lifted its holdings in shares of Lam Research by 57.2% in the third quarter. Greenleaf Trust now owns 5,334 shares of the semiconductor company’s stock worth $4,353,000 after acquiring an additional 1,940 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Lam Research by 37.1% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 780 shares of the semiconductor company’s stock valued at $637,000 after purchasing an additional 211 shares in the last quarter. Lecap Asset Management Ltd. grew its holdings in shares of Lam Research by 97.8% during the 3rd quarter. Lecap Asset Management Ltd. now owns 5,102 shares of the semiconductor company’s stock valued at $4,164,000 after purchasing an additional 2,522 shares during the last quarter. Finally, Global X Japan Co. Ltd. increased its position in Lam Research by 7.7% during the 3rd quarter. Global X Japan Co. Ltd. now owns 6,076 shares of the semiconductor company’s stock worth $4,959,000 after purchasing an additional 433 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Insider Transactions at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction 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 directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LRCX. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 target price (down previously from $105.00) on shares of Lam Research in a research note on Thursday. Wells Fargo & Company lowered their target price on Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday. Morgan Stanley cut their price target on Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price objective on Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Finally, UBS Group cut their target price on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Six 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.03.

Lam Research Stock Up 5.1 %

Shares of NASDAQ LRCX opened at $76.57 on Friday. 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 firm has a market cap of $10.01 billion, a PE ratio of 2.82, a P/E/G ratio of 1.75 and a beta of 1.47. The company’s fifty day simple moving average is $79.60 and its 200 day simple moving average is $89.94. Lam Research Co. has a 12-month low of $57.44 and a 12-month high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The company 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 business posted $6.85 EPS. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.20%. Lam Research’s dividend payout ratio is 3.38%.

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.