Dynamic Advisor Solutions LLC Sells 261 Shares of Lam Research Co. (NASDAQ:LRCX)

Dynamic Advisor Solutions LLC decreased its holdings in Lam Research Co. (NASDAQ:LRCX) by 11.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,064 shares of the semiconductor company’s stock after selling 261 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Lam Research were worth $1,684,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LRCX. Symmetry Investments LP bought a new position in Lam Research in the second quarter valued at about $3,229,000. Brown Financial Advisors acquired a new position in Lam Research during the 2nd quarter worth approximately $1,489,000. 3Chopt Investment Partners LLC acquired a new position in Lam Research during the 2nd quarter worth approximately $1,105,000. Cypress Capital Group boosted its position in Lam Research by 23.1% in the second quarter. Cypress Capital Group now owns 3,528 shares of the semiconductor company’s stock valued at $3,757,000 after buying an additional 661 shares in the last quarter. Finally, Albar Capital Ltd bought a new stake in shares of Lam Research during the second quarter worth $3,123,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LRCX. TD Cowen increased their price target on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Mizuho dropped their target price on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. UBS Group lowered their price objective on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. B. Riley lifted their target price on shares of Lam Research from $113.00 to $132.50 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Finally, Citigroup reduced their target price on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $141.28.

Insider Buying and Selling

In other news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction that occurred 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Neil J. Fernandes sold 16,200 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $105.70, for a total value of $1,712,323.80. Following the transaction, the senior vice president now owns 52,370 shares of the company’s stock, valued at approximately $5,535,456.63. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Christina Correia sold 647 shares of the business’s 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 sale, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.

Lam Research Price Performance

Shares of LRCX opened at $82.86 on Thursday. The firm has a market cap of $10.83 billion, a PE ratio of 3.03, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. Lam Research Co. has a 52-week low of $57.44 and a 52-week high of $113.00. The business’s 50 day moving average price is $95.03 and its two-hundred day moving average price is $96.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.05. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. Lam Research’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.60 EPS. On average, equities analysts anticipate that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Tuesday, September 17th. Lam Research’s payout ratio is 3.38%.

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.