Global Retirement Partners LLC Cuts Position in Lam Research Co. (NASDAQ:LRCX)

Global Retirement Partners LLC lowered its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 14.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,897 shares of the semiconductor company’s stock after selling 326 shares during the period. Global Retirement Partners LLC’s holdings in Lam Research were worth $1,548,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its holdings in shares of Lam Research by 16.7% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock worth $67,000 after acquiring an additional 9 shares during the period. Thomasville National Bank grew its holdings in Lam Research by 1.5% in the second quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock valued at $865,000 after purchasing an additional 12 shares during the last quarter. Ignite Planners LLC increased its position in shares of Lam Research by 2.8% in the second quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock valued at $484,000 after buying an additional 12 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in shares of Lam Research by 3.7% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock worth $357,000 after buying an additional 12 shares during the last quarter. Finally, RFP Financial Group LLC grew its stake in Lam Research by 52.2% in the 2nd 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 last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LRCX has been the subject of a number of research reports. Needham & Company LLC restated a “buy” rating and set a $113.00 target price on shares of Lam Research in a research report on Thursday, August 1st. TD Cowen raised their price target on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reduced their price objective on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Morgan Stanley dropped their price objective on Lam Research from $92.90 to $77.40 and set an “equal weight” rating for the company in a research report on Tuesday, September 17th. Finally, Mizuho decreased their price target on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $141.28.

Lam Research Stock Down 0.4 %

LRCX opened at $72.84 on Friday. Lam Research Co. has a 1 year low of $57.44 and a 1 year high of $113.00. The firm has a 50 day moving average price of $80.15 and a 200 day moving average price of $90.53. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. 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 announced its earnings results 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. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the prior year, the firm earned $0.60 earnings per share. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. Sell-side analysts expect that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Cuts Dividend

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

Insiders Place Their Bets

In other news, CAO Christina Correia sold 647 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.32% of the stock is owned by company insiders.

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.