Moran Wealth Management LLC Sells 8,891 Shares of Lam Research Co. (NASDAQ:LRCX)

Moran Wealth Management LLC lessened its position in Lam Research Co. (NASDAQ:LRCX) by 67.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,325 shares of the semiconductor company’s stock after selling 8,891 shares during the quarter. Moran Wealth Management LLC’s holdings in Lam Research were worth $3,530,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp raised its holdings in Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after acquiring an additional 15,005,178 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Lam Research by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after acquiring an additional 142,903 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Lam Research by 7.7% in the 2nd 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. Dimensional Fund Advisors LP raised its holdings in Lam Research by 4.3% in the 2nd 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 holdings in Lam Research by 2.0% in the 2nd 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. Institutional investors own 84.61% of the company’s stock.

Lam Research Trading Down 0.2 %

Shares of LRCX stock opened at $70.05 on Thursday. Lam Research Co. has a 12-month low of $68.72 and a 12-month high of $113.00. The company has a market capitalization of $90.13 billion, a P/E ratio of 22.64, a P/E/G ratio of 1.12 and a beta of 1.48. The firm has a 50-day moving average price of $77.04 and a 200 day moving average price of $87.56. 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 earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same period in the previous year, the firm posted $6.85 earnings per share. The company’s revenue was up 19.7% on a year-over-year basis. Research analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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

Analyst Ratings Changes

Several analysts have issued reports on LRCX shares. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. Morgan Stanley decreased their price target on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. UBS Group decreased their price target on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Citigroup decreased their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research report on Monday, September 16th. Finally, Wells Fargo & Company decreased their price target on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Lam Research has an average rating of “Moderate Buy” and a consensus target price of $97.03.

Insiders Place Their Bets

In other Lam Research news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.