Lam Research Co. (NASDAQ:LRCX) Stake Lessened by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale decreased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 8.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,804 shares of the semiconductor company’s stock after selling 5,900 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Lam Research were worth $51,040,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of LRCX. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Lam Research in the 2nd quarter valued at about $32,000. RFP Financial Group LLC increased its stake in Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares during the period. Hobbs Group Advisors LLC purchased a new stake in Lam Research in the 2nd quarter worth approximately $40,000. Country Trust Bank acquired a new stake in shares of Lam Research during the 2nd quarter valued at $43,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of Lam Research during the 2nd quarter valued at $45,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Performance

LRCX opened at $77.68 on Monday. The stock has a market cap of $10.16 billion, a PE ratio of 2.86, a P/E/G ratio of 1.89 and a beta of 1.47. Lam Research Co. has a 1 year low of $57.44 and a 1 year high of $113.00. The stock’s 50 day simple moving average is $79.21 and its 200-day simple moving average is $89.66. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the prior year, the company posted $6.85 EPS. The business’s revenue was up 19.7% on a year-over-year basis. Sell-side analysts forecast that Lam Research Co. will post 3.23 EPS for the current year.

Lam Research Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Tuesday, September 17th. Lam Research’s payout ratio is 3.38%.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on LRCX shares. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of Lam Research in a research report on Thursday. 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 research note on Thursday. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Finally, TD Cowen raised their price target on shares of Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus 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.