Asset Management One Co. Ltd. Sells 7,614 Shares of Lam Research Co. (NASDAQ:LRCX)

Asset Management One Co. Ltd. cut its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 12.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 54,080 shares of the semiconductor company’s stock after selling 7,614 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Lam Research were worth $44,134,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Creative Planning grew its position in Lam Research by 2.5% during the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock valued at $38,664,000 after buying an additional 1,146 shares during the period. Vest Financial LLC boosted its position in shares of Lam Research by 68.7% in the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock valued at $29,372,000 after acquiring an additional 14,658 shares during the period. Benson Investment Management Company Inc. bought a new stake in Lam Research during the third quarter valued at approximately $5,182,000. Symmetry Investments LP bought a new stake in Lam Research during the second quarter valued at approximately $3,229,000. Finally, Vontobel Holding Ltd. raised its stake in shares of Lam Research by 38.4% during the third quarter. Vontobel Holding Ltd. now owns 120,736 shares of the semiconductor company’s stock worth $98,530,000 after acquiring an additional 33,489 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In related news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. B. Riley decreased their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. 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 report on Thursday, August 1st. Wells Fargo & Company decreased their target price on Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. Finally, Citigroup cut their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $97.03.

Lam Research Stock Down 0.8 %

Lam Research stock opened at $74.17 on Tuesday. Lam Research Co. has a twelve month low of $62.81 and a twelve month high of $113.00. The stock has a 50 day moving average of $77.94 and a two-hundred day moving average of $88.82. 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 has a market capitalization of $95.43 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 1.19 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data 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 return on equity of 50.60% and a net margin of 26.02%. The firm had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same period last year, the business posted $6.85 EPS. Lam Research’s quarterly revenue was up 19.7% on a year-over-year basis. As a group, research analysts expect that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

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.