Stephens Inc. AR Sells 23,340 Shares of Lam Research Co. (NASDAQ:LRCX)

Stephens Inc. AR reduced its holdings in Lam Research Co. (NASDAQ:LRCX) by 98.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 410 shares of the semiconductor company’s stock after selling 23,340 shares during the quarter. Stephens Inc. AR’s holdings in Lam Research were worth $334,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. acquired a new stake in Lam Research in the second quarter valued at approximately $32,000. RFP Financial Group LLC grew its stake in 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 acquiring an additional 12 shares during the period. Hobbs Group Advisors LLC acquired a new stake in Lam Research in the second quarter valued at approximately $40,000. Country Trust Bank acquired a new stake in Lam Research in the second quarter valued at approximately $43,000. Finally, MFA Wealth Advisors LLC acquired a new stake in Lam Research in the second quarter valued at approximately $45,000. 84.61% of the stock is currently owned by institutional investors.

Lam Research Stock Performance

Shares of LRCX opened at $79.21 on Friday. The firm has a market cap of $101.92 billion, a PE ratio of 25.60, a PEG ratio of 1.18 and a beta of 1.48. The stock’s fifty day moving average price is $77.73 and its two-hundred day moving average price is $88.66. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. Lam Research Co. has a 1 year low of $64.11 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 (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business’s revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the company posted $6.85 earnings per share. On average, equities research analysts forecast that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Dividend Announcement

The business also recently disclosed 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%. Lam Research’s payout ratio is 29.74%.

Insider Activity at Lam Research

In related 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 sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. TD Cowen raised their price objective on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company reduced their price objective on Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. BNP Paribas raised Lam Research to a “hold” rating in a research report on Thursday, October 24th. Citigroup cut their target price on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research report on Monday, September 16th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 target price 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 MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average target price of $97.03.

Lam Research Company 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.