Lam Research Co. (NASDAQ:LRCX) Shares Sold by Centaurus Financial Inc.

Centaurus Financial Inc. trimmed its position in shares of Lam Research Co. (NASDAQ:LRCX) by 38.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 589 shares of the semiconductor company’s stock after selling 364 shares during the period. Centaurus Financial Inc.’s holdings in Lam Research were worth $627,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of LRCX. Newbridge Financial Services Group Inc. boosted its position in shares of Lam Research by 20.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 412 shares of the semiconductor company’s stock worth $439,000 after buying an additional 70 shares during the period. Heritage Wealth Management Inc. bought a new stake in Lam Research during the 2nd quarter valued at $276,000. Sanctuary Advisors LLC acquired a new position in Lam Research during the 2nd quarter worth $18,140,000. NCP Inc. bought a new position in shares of Lam Research in the second quarter worth $213,000. Finally, Brown Financial Advisors bought a new stake in shares of Lam Research during the second quarter valued at about $1,489,000. Institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LRCX. Needham & Company LLC reiterated a “buy” rating and issued a $113.00 target price on shares of Lam Research in a research report on Thursday, August 1st. Raymond James increased their price objective on shares of Lam Research from $95.00 to $106.00 and gave the company an “outperform” rating in a report on Friday, June 7th. StockNews.com upgraded shares of Lam Research from a “hold” rating to a “buy” rating in a research note on Thursday. Cantor Fitzgerald cut their target price on Lam Research from $120.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, September 30th. Finally, Morgan Stanley lowered their price target on Lam Research from $92.90 to $77.40 and set an “equal weight” rating on the stock in a research report on Tuesday, September 17th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $141.28.

Insiders Place Their Bets

In other Lam Research news, CAO Christina Correia sold 647 shares of the company’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 of the company’s stock, valued at $3,488,315.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Lam Research news, SVP Neil J. Fernandes sold 16,200 shares of Lam Research stock in a transaction that occurred on Friday, July 12th. The stock was 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 directly owns 52,370 shares of the company’s stock, valued at $5,535,456.63. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred 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 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. Insiders own 0.32% of the company’s stock.

Lam Research Price Performance

LRCX opened at $81.54 on Friday. 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 1 year low of $57.44 and a 1 year high of $113.00. The stock has a fifty day moving average price of $95.29 and a 200 day moving average price of $96.72. The stock has a market cap of $10.66 billion, a price-to-earnings ratio of 3.00, a PEG ratio of 1.51 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.05. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 earnings per share. Analysts forecast that Lam Research Co. will post 35.2 EPS for the current fiscal 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 given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.13%. The ex-dividend date was Tuesday, September 17th. Lam Research’s payout ratio is 33.84%.

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.