Lam Research Co. (NASDAQ:LRCX) Holdings Decreased by L & S Advisors Inc

L & S Advisors Inc reduced its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 6.7% in the third quarter, Holdings Channel.com reports. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC boosted its position in Lam Research by 16.7% during the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock worth $67,000 after acquiring an additional 9 shares during the period. Thomasville National Bank lifted its holdings in shares of Lam Research by 1.5% in the second quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock valued at $865,000 after buying an additional 12 shares during the period. Ignite Planners LLC lifted its holdings in shares of Lam Research by 2.8% in the second quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock valued at $484,000 after buying an additional 12 shares during the period. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of Lam Research by 3.7% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock valued at $357,000 after buying an additional 12 shares during the period. Finally, RFP Financial Group LLC lifted its holdings in shares of Lam Research by 52.2% in the second 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. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LRCX shares. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. B. Riley reduced their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 target price (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Finally, TD Cowen upped their price target on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.03.

Insider Buying and Selling

In other 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 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 $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.29% of the stock is owned by corporate insiders.

Lam Research Stock Performance

LRCX opened at $70.90 on Thursday. The stock has a 50-day moving average of $77.04 and a 200-day moving average of $87.56. Lam Research Co. has a 52-week low of $68.72 and a 52-week high of $113.00. The company has a market cap of $91.23 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 1.12 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating 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 quarter in the prior year, the company earned $6.85 EPS. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. As a group, equities research analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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