Lam Research Co. (NASDAQ:LRCX) Position Cut by Neville Rodie & Shaw Inc.

Neville Rodie & Shaw Inc. decreased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 2.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,443 shares of the semiconductor company’s stock after selling 844 shares during the period. Lam Research comprises 2.1% of Neville Rodie & Shaw Inc.’s investment portfolio, making the stock its 10th biggest position. Neville Rodie & Shaw Inc.’s holdings in Lam Research were worth $28,924,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Symmetry Investments LP acquired a new position in shares of Lam Research in the second quarter worth $3,229,000. 3Chopt Investment Partners LLC purchased a new position in Lam Research in the second quarter valued at $1,105,000. Cypress Capital Group boosted its holdings 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 purchasing an additional 661 shares during the period. Brown Financial Advisors acquired a new position in Lam Research during the 2nd quarter worth $1,489,000. Finally, Albar Capital Ltd purchased a new stake in Lam Research during the 2nd quarter worth about $3,123,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Performance

NASDAQ:LRCX opened at $814.09 on Thursday. Lam Research Co. has a 1-year low of $574.42 and a 1-year high of $1,130.00. The firm has a market cap of $106.43 billion, a price-to-earnings ratio of 29.94, a price-to-earnings-growth ratio of 1.51 and a beta of 1.48. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. The firm’s fifty day moving average price is $95.60 and its 200 day moving average price is $96.91.

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, topping the consensus estimate of $0.76 by $0.05. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The company had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. The firm’s quarterly revenue was up 20.7% on a year-over-year basis. On average, sell-side analysts expect that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research Cuts Dividend

The firm also recently announced 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 0.11%. The ex-dividend date was Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is currently 33.84%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LRCX. Wells Fargo & Company decreased their price objective on Lam Research from $110.00 to $100.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. B. Riley lifted their price target on shares of Lam Research from $113.00 to $132.50 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Needham & Company LLC reissued a “buy” rating and issued a $113.00 price objective on shares of Lam Research in a research report on Thursday, August 1st. TD Cowen lifted their price objective on shares of Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Morgan Stanley cut their price target on 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. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $100.23.

Insiders Place Their Bets

In other Lam Research news, SVP Neil J. Fernandes sold 16,200 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $105.70, for a total transaction of $1,712,323.80. Following the transaction, the senior vice president now directly owns 52,370 shares in the company, valued at $5,535,456.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were 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 in the company, valued at approximately $3,488,315.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Neil J. Fernandes sold 16,200 shares of Lam Research stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $105.70, for a total transaction 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. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

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.