Massachusetts Financial Services Co. MA Lowers Stock Position in Lam Research Co. (NASDAQ:LRCX)

Massachusetts Financial Services Co. MA lowered its position in shares of Lam Research Co. (NASDAQ:LRCX) by 22.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 978,775 shares of the semiconductor company’s stock after selling 275,413 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Lam Research were worth $798,759,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LRCX. Van ECK Associates Corp raised its position in shares of Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after purchasing an additional 15,005,178 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Lam Research by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after purchasing an additional 142,903 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Lam Research by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock worth $654,009,000 after purchasing an additional 25,362 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Lam Research by 2.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 420,117 shares of the semiconductor company’s stock worth $447,362,000 after purchasing an additional 8,295 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Lam Research by 9.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company’s stock worth $278,165,000 after purchasing an additional 28,089 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. This trade represents a 13.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

LRCX has been the subject of a number of recent analyst reports. UBS Group decreased their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. B. Riley decreased their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Citigroup decreased their target price on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research report on Monday, September 16th. BNP Paribas raised Lam Research to a “hold” rating in a research report on Thursday, October 24th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $100.00 target price (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Seven investment 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.com, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.03.

Lam Research Price Performance

LRCX stock opened at $73.05 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The firm has a market capitalization of $93.99 billion, a P/E ratio of 23.61, a P/E/G ratio of 1.12 and a beta of 1.48. The business’s 50-day moving average is $76.97 and its two-hundred day moving average is $87.46. Lam Research Co. has a 1 year low of $68.72 and a 1 year high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping 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 business had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter last year, the company earned $6.85 EPS. The business’s quarterly revenue was up 19.7% on a year-over-year basis. Analysts anticipate that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.26%. Lam Research’s dividend payout ratio is presently 29.74%.

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.