Lam Research Co. (NASDAQ:LRCX) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lessened its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 8.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,804 shares of the semiconductor company’s stock after selling 5,900 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Lam Research were worth $51,040,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Foster Victor Wealth Advisors LLC increased its stake in shares of Lam Research by 994.1% in the third quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company’s stock worth $190,066,000 after buying an additional 211,614 shares during the last quarter. Swedbank AB bought a new stake in shares of Lam Research in the 1st quarter worth about $192,668,000. Van ECK Associates Corp raised its stake in shares of Lam Research by 24.6% in the 1st quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company’s stock valued at $940,592,000 after purchasing an additional 191,230 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Lam Research by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after purchasing an additional 144,914 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Lam Research by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after purchasing an additional 142,903 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Trading Up 1.4 %

Shares of NASDAQ:LRCX opened at $77.68 on Monday. The company has a 50 day moving average of $79.21 and a 200-day moving average of $89.66. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The firm has a market cap of $10.16 billion, a P/E ratio of 2.86, a P/E/G ratio of 1.89 and a beta of 1.47. Lam Research Co. has a twelve month low of $57.44 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly 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. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The company had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same period last year, the firm earned $6.85 EPS. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. As a group, analysts anticipate that Lam Research Co. will post 3.23 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.18%. Lam Research’s payout ratio is currently 3.38%.

Insider Activity at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. UBS Group reduced their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $100.00 price objective on shares of Lam Research in a report on Thursday. TD Cowen raised their price target 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. Morgan Stanley lowered their price objective on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company cut their target price on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.