Braun Stacey Associates Inc. Sells 3,587 Shares of Lam Research Co. (NASDAQ:LRCX)

Braun Stacey Associates Inc. lowered its holdings in Lam Research Co. (NASDAQ:LRCX) by 9.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,630 shares of the semiconductor company’s stock after selling 3,587 shares during the period. Braun Stacey Associates Inc.’s holdings in Lam Research were worth $26,629,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Acadian Asset Management LLC lifted its holdings in shares of Lam Research by 88.6% during the 1st quarter. Acadian Asset Management LLC now owns 7,876 shares of the semiconductor company’s stock worth $7,647,000 after acquiring an additional 3,700 shares during the period. Edgestream Partners L.P. increased its position in Lam Research by 10.6% during the 1st quarter. Edgestream Partners L.P. now owns 1,426 shares of the semiconductor company’s stock worth $1,385,000 after purchasing an additional 137 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in Lam Research during the 1st quarter worth approximately $146,000. Penobscot Investment Management Company Inc. increased its position in Lam Research by 2.8% during the 1st quarter. Penobscot Investment Management Company Inc. now owns 1,410 shares of the semiconductor company’s stock worth $1,370,000 after purchasing an additional 38 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in Lam Research by 21.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 12,058 shares of the semiconductor company’s stock worth $11,715,000 after purchasing an additional 2,133 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on LRCX shares. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Morgan Stanley reduced their target price on Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. 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 report on Thursday, August 1st. Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

Lam Research Trading Down 6.3 %

NASDAQ:LRCX opened at $70.05 on Monday. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $90.13 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 1.11 and a beta of 1.48. The firm’s 50 day moving average is $77.23 and its 200 day moving average is $87.95. Lam Research Co. has a 12 month low of $68.72 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The company had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. Lam Research’s revenue was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.85 EPS. Sell-side analysts expect that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.31%. Lam Research’s payout ratio is 29.74%.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 13.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.29% of the company’s stock.

Lam Research 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.