TD Private Client Wealth LLC Sells 1,946 Shares of Lam Research Co. (NASDAQ:LRCX)

TD Private Client Wealth LLC lowered its position in shares of Lam Research Co. (NASDAQ:LRCX) by 42.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,627 shares of the semiconductor company’s stock after selling 1,946 shares during the quarter. TD Private Client Wealth LLC’s holdings in Lam Research were worth $2,144,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Coldstream Capital Management Inc. lifted its holdings in shares of Lam Research by 27.5% during the third quarter. Coldstream Capital Management Inc. now owns 9,622 shares of the semiconductor company’s stock worth $7,852,000 after buying an additional 2,074 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Lam Research by 2.1% during the third quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock worth $2,539,413,000 after buying an additional 64,053 shares in the last quarter. Savoie Capital LLC lifted its holdings in shares of Lam Research by 12.2% during the third quarter. Savoie Capital LLC now owns 8,280 shares of the semiconductor company’s stock worth $6,757,000 after buying an additional 900 shares in the last quarter. LRI Investments LLC lifted its holdings in shares of Lam Research by 667.4% during the third quarter. LRI Investments LLC now owns 2,563 shares of the semiconductor company’s stock worth $2,092,000 after buying an additional 2,229 shares in the last quarter. Finally, Groupama Asset Managment lifted its holdings in shares of Lam Research by 7.8% during the third quarter. Groupama Asset Managment now owns 24,921 shares of the semiconductor company’s stock worth $203,000 after buying an additional 1,810 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus reissued a “buy” rating and set a $100.00 target price (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Morgan Stanley boosted their price target on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Wells Fargo & Company dropped their price target on Lam Research from $85.00 to $83.00 and set an “equal weight” rating for the company in a research note on Friday, December 6th. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Finally, B. Riley dropped their price target 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. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.24.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction that occurred 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 directly owns 4,267 shares in the company, valued at $3,488,315.17. This represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.29% of the stock is currently owned by company insiders.

Lam Research Stock Performance

NASDAQ:LRCX opened at $75.58 on Friday. The stock has a market cap of $97.25 billion, a P/E ratio of 24.43, a price-to-earnings-growth ratio of 1.25 and a beta of 1.46. 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’s 50-day moving average is $75.99 and its 200-day moving average is $85.64. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results 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. The company had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the previous year, the business posted $6.85 earnings per share. Equities research analysts anticipate that Lam Research Co. will post 3.5 earnings per share for the current year.

Lam Research Dividend Announcement

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 issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is currently 29.74%.

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.