16,119 Lam Research Corporation $LRCX Shares Sold by Trek Financial LLC

Trek Financial LLC trimmed its position in Lam Research Corporation (NASDAQ:LRCX) by 64.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 9,029 shares of the semiconductor company’s stock after selling 16,119 shares during the period. Trek Financial LLC’s holdings in Lam Research were worth $2,966,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LRCX. State Street Corp increased its position in shares of Lam Research by 2.6% during the 2nd quarter. State Street Corp now owns 60,704,130 shares of the semiconductor company’s stock valued at $26,320,468,000 after purchasing an additional 1,545,830 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Lam Research by 5.5% in the 2nd quarter. Bank of America Corp DE now owns 11,244,147 shares of the semiconductor company’s stock worth $4,872,426,000 after purchasing an additional 584,489 shares in the last quarter. Van ECK Associates Corp grew its position in Lam Research by 411.8% during the second quarter. Van ECK Associates Corp now owns 11,089,395 shares of the semiconductor company’s stock valued at $4,805,368,000 after acquiring an additional 8,922,854 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Lam Research in the 2nd quarter worth $3,777,585,000. Finally, Amundi lifted its stake in Lam Research by 23.7% in the first quarter. Amundi now owns 10,147,479 shares of the semiconductor company’s stock worth $2,168,107,000 after purchasing an additional 1,942,862 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Lam Research news, insider Ava Harter sold 5,000 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $302.46, for a total value of $1,512,300.00. Following the sale, the insider owned 42,462 shares in the company, valued at $12,843,056.52. The trade was a 10.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bethany Mayer sold 9,557 shares of Lam Research stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $314.74, for a total value of $3,007,970.18. Following the completion of the sale, the director directly owned 20,995 shares in the company, valued at $6,607,966.30. This trade represents a 31.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Jefferies Financial Group set a $335.00 price target on shares of Lam Research and gave the company a “buy” rating in a research report on Thursday, July 30th. Wall Street Zen upgraded shares of Lam Research from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $350.00 price target (down from $450.00) on shares of Lam Research in a research report on Thursday, July 30th. Evercore set a $315.00 price objective on Lam Research in a report on Tuesday, October 20th. Finally, Stifel Nicolaus lifted their price target on shares of Lam Research from $325.00 to $425.00 and gave the company a “buy” rating in a report on Friday, July 10th. Twenty-six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $360.23.

Lam Research Stock Performance

Shares of LRCX stock opened at $227.56 on Tuesday. The firm has a market capitalization of $284.26 billion, a PE ratio of 33.91, a P/E/G ratio of 0.94 and a beta of 1.85. Lam Research Corporation has a 52 week low of $135.50 and a 52 week high of $438.50. The company has a quick ratio of 1.86, a current ratio of 2.48 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average price of $292.74 and a 200-day moving average price of $283.84.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.02. Lam Research had a return on equity of 72.15% and a net margin of 32.34%. The business had revenue of $8.22 billion during the quarter, compared to the consensus estimate of $8.14 billion. During the same period in the previous year, the company posted $1.26 EPS. The business’s quarterly revenue was up 54.4% compared to the same quarter last year. As a group, equities research analysts expect that Lam Research Corporation will post 9.59 earnings per share for the current year.

Lam Research Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 23rd were given a dividend of $0.33 per share. The ex-dividend date was Wednesday, September 23rd. This is an increase from Lam Research’s previous quarterly dividend of $0.26. This represents a $1.32 annualized dividend and a dividend yield of 0.6%. Lam Research’s dividend payout ratio (DPR) is 19.67%.

Lam Research Profile

Lam Research Corporation (NASDAQ:LRCX) is a semiconductor equipment company that develops and manufactures systems used to fabricate integrated circuits. Its technologies support key stages of wafer processing, helping semiconductor manufacturers create the increasingly complex structures found in memory, logic and other types of chips.

The company’s product portfolio includes etch systems, which selectively remove materials from wafers; deposition systems, which apply thin films; and cleaning solutions used to remove contaminants and residue during manufacturing.