Strategic Blueprint LLC Sells 136 Shares of Lam Research Co. (NASDAQ:LRCX)

Strategic Blueprint LLC decreased its stake in Lam Research Co. (NASDAQ:LRCX) by 14.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 796 shares of the semiconductor company’s stock after selling 136 shares during the period. Strategic Blueprint LLC’s holdings in Lam Research were worth $650,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Diversify Advisory Services LLC bought a new stake in shares of Lam Research in the 3rd quarter valued at about $25,964,000. Integrated Advisors Network LLC increased its stake in Lam Research by 413.0% in the third quarter. Integrated Advisors Network LLC now owns 6,582 shares of the semiconductor company’s stock valued at $5,372,000 after purchasing an additional 5,299 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Lam Research by 109.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,647 shares of the semiconductor company’s stock worth $1,348,000 after purchasing an additional 861 shares during the period. Orrstown Financial Services Inc. bought a new position in shares of Lam Research during the third quarter worth $646,000. Finally, Asahi Life Asset Management CO. LTD. acquired a new position in shares of Lam Research in the 3rd quarter valued at $571,000. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LRCX. Mizuho dropped their price objective on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. UBS Group cut their price objective 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 reissued a “neutral” rating and set a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Citigroup dropped their target price on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a report on Monday, September 16th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Lam Research Stock Performance

NASDAQ LRCX opened at $76.45 on Thursday. The firm has a market capitalization of $10.00 billion, a P/E ratio of 2.81, a price-to-earnings-growth ratio of 1.89 and a beta of 1.47. 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’s fifty day moving average price is $78.59 and its two-hundred day moving average price is $89.23. Lam Research Co. has a 1 year low of $57.44 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 analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same period in the prior year, the firm earned $6.85 EPS. Lam Research’s quarterly revenue was up 19.7% compared to the same quarter last year. As a group, research analysts anticipate that Lam Research Co. will post 3.23 EPS for the current year.

Lam Research Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.20%. Lam Research’s dividend payout ratio is currently 3.38%.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of the firm’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 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.32% of the stock is owned by insiders.

About Lam Research

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.