Lam Research Co. (NASDAQ:LRCX) Shares Sold by Great Diamond Partners LLC

Great Diamond Partners LLC lowered its position in Lam Research Co. (NASDAQ:LRCX) by 28.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 380 shares of the semiconductor company’s stock after selling 151 shares during the period. Great Diamond Partners LLC’s holdings in Lam Research were worth $310,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Mizuho lowered their price target on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Citigroup cut 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. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. B. Riley dropped their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

Lam Research Trading Down 2.4 %

Shares of LRCX opened at $76.45 on Thursday. Lam Research Co. has a 12 month low of $57.44 and a 12 month high of $113.00. The stock’s 50-day moving average is $78.59 and its two-hundred day moving average is $89.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. The stock has a market cap of $10.00 billion, a PE ratio of 2.81, a P/E/G ratio of 1.89 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping 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 firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same period in the previous year, the company posted $6.85 EPS. Lam Research’s revenue for the quarter was up 19.7% on a year-over-year basis. Equities analysts forecast that Lam Research Co. will post 3.23 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

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

Insider Buying and Selling

In other news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction dated 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 directly owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is currently owned by insiders.

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.