Lam Research Co. (NASDAQ:LRCX) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC lessened its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 9.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,333 shares of the semiconductor company’s stock after selling 565 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Lam Research were worth $4,353,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of LRCX. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Lam Research in the second quarter worth approximately $32,000. RFP Financial Group LLC boosted its stake in shares of Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares during the period. Hobbs Group Advisors LLC purchased a new position in shares of Lam Research during the 2nd quarter valued at $40,000. Country Trust Bank acquired a new position in shares of Lam Research in the second quarter worth $43,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Lam Research during the second quarter worth $45,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $72.64 on Friday. Lam Research Co. has a 12 month low of $68.72 and a 12 month high of $113.00. The company has a market cap of $93.47 billion, a P/E ratio of 23.48, a P/E/G ratio of 1.16 and a beta of 1.48. The business’s 50 day moving average is $76.93 and its two-hundred day moving average is $87.32. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter last year, the firm earned $6.85 EPS. Lam Research’s revenue for the quarter was up 19.7% compared to the same quarter last year. On average, equities analysts expect that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s payout ratio is presently 29.74%.

Wall Street Analyst Weigh In

LRCX has been the topic of several research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Citigroup reduced their price target on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft reduced their price target on Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Finally, Morgan Stanley reduced their price target on Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average target price of $97.97.

Insider Transactions at Lam Research

In related news, CAO Christina Correia sold 647 shares of the business’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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% 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.