Lam Research Co. (NASDAQ:LRCX) Shares Sold by CFS Investment Advisory Services LLC

CFS Investment Advisory Services LLC cut its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 44.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 402 shares of the semiconductor company’s stock after selling 328 shares during the period. CFS Investment Advisory Services LLC’s holdings in Lam Research were worth $328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its position in Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after purchasing an additional 15,005,178 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Lam Research by 7.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock worth $1,335,522,000 after acquiring an additional 89,470 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Lam Research by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 822,599 shares of the semiconductor company’s stock worth $671,307,000 after acquiring an additional 10,868 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Lam Research by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock worth $654,009,000 after acquiring an additional 25,362 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in shares of Lam Research by 2.0% in the second quarter. Canada Pension Plan Investment Board now owns 420,117 shares of the semiconductor company’s stock worth $447,362,000 after acquiring an additional 8,295 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value 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 represents a 13.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Lam Research Stock Down 0.7 %

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 stock has a market cap of $93.47 billion, a PE ratio of 23.48, a P/E/G ratio of 1.16 and a beta of 1.48. 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 company has a 50-day moving average of $76.93 and a 200 day moving average of $87.35.

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

Lam Research Announces Dividend

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

Analysts Set New Price Targets

LRCX has been the subject of a number of analyst reports. Mizuho decreased their price objective on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. 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. Stifel Nicolaus reiterated a “buy” rating and issued a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. UBS Group decreased their price objective on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. 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 for the company in a research note on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and a consensus target price of $97.97.

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.