Whittier Trust Co. of Nevada Inc. Sells 271 Shares of Lam Research Co. (NASDAQ:LRCX)

Whittier Trust Co. of Nevada Inc. lessened its holdings in Lam Research Co. (NASDAQ:LRCX) by 11.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,161 shares of the semiconductor company’s stock after selling 271 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Lam Research were worth $1,764,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wellington Management Group LLP grew its holdings in Lam Research by 98.5% during the fourth quarter. Wellington Management Group LLP now owns 39,781 shares of the semiconductor company’s stock valued at $31,159,000 after purchasing an additional 19,742 shares during the period. RFG Advisory LLC increased its stake in Lam Research by 34.6% in the 1st quarter. RFG Advisory LLC now owns 615 shares of the semiconductor company’s stock worth $597,000 after buying an additional 158 shares in the last quarter. Keystone Wealth Services LLC bought a new stake in Lam Research during the first quarter valued at about $242,000. Riverview Trust Co purchased a new position in shares of Lam Research in the first quarter valued at about $106,000. Finally, Dynamic Advisor Solutions LLC boosted its stake in shares of Lam Research by 8.9% in the first quarter. Dynamic Advisor Solutions LLC now owns 2,277 shares of the semiconductor company’s stock worth $2,212,000 after acquiring an additional 187 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $72.84 on Tuesday. 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 Co. has a twelve month low of $57.44 and a twelve month high of $113.00. The company’s 50 day moving average is $79.99 and its 200 day moving average is $90.26. The company has a market cap of $9.52 billion, a PE ratio of 2.68, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.05. The firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm’s revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.60 earnings per share. On average, sell-side analysts forecast that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research’s payout ratio is presently 3.38%.

Insiders Place Their Bets

In related news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LRCX shares. UBS Group cut their price objective on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Morgan Stanley reduced their target price on shares of Lam Research from $92.90 to $77.40 and set an “equal weight” rating on the stock in a research note on Tuesday, September 17th. TD Cowen boosted their price objective on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Citigroup reduced their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a report on Monday, September 16th. Finally, Cantor Fitzgerald dropped their price objective on shares of Lam Research from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, September 30th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $141.28.

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.