Mutual of America Capital Management LLC Lowers Holdings in Lam Research Co. (NASDAQ:LRCX)

Mutual of America Capital Management LLC reduced its stake in Lam Research Co. (NASDAQ:LRCX) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,707 shares of the semiconductor company’s stock after selling 704 shares during the period. Mutual of America Capital Management LLC’s holdings in Lam Research were worth $16,082,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Seizert Capital Partners LLC increased its stake in Lam Research by 42.0% during the 3rd quarter. Seizert Capital Partners LLC now owns 9,647 shares of the semiconductor company’s stock valued at $7,873,000 after purchasing an additional 2,852 shares in the last quarter. Turtle Creek Wealth Advisors LLC lifted its stake in shares of Lam Research by 1.9% in the third quarter. Turtle Creek Wealth Advisors LLC now owns 7,788 shares of the semiconductor company’s stock worth $6,356,000 after buying an additional 147 shares in the last quarter. Cornercap Investment Counsel Inc. increased its position in shares of Lam Research by 184.8% during the third quarter. Cornercap Investment Counsel Inc. now owns 1,777 shares of the semiconductor company’s stock valued at $1,450,000 after acquiring an additional 1,153 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Lam Research by 5.3% in the 3rd quarter. CIBC Asset Management Inc now owns 40,423 shares of the semiconductor company’s stock worth $32,988,000 after acquiring an additional 2,051 shares during the last quarter. Finally, Lifeworks Advisors LLC lifted its position in Lam Research by 23.5% in the 3rd quarter. Lifeworks Advisors LLC now owns 1,838 shares of the semiconductor company’s stock valued at $1,500,000 after acquiring an additional 350 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Insider Transactions at Lam Research

In related news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction 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 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 13.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Lam Research in a research report on Thursday, October 24th. Mizuho dropped their price target on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a 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 report on Thursday, August 1st. TD Cowen raised their target price on shares of Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $97.03.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $70.05 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The firm has a market cap of $90.13 billion, a price-to-earnings ratio of 22.64, a P/E/G ratio of 1.11 and a beta of 1.48. The firm has a fifty day moving average price of $77.23 and a 200 day moving average price of $87.96. Lam Research Co. has a fifty-two week low of $68.72 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX) last announced 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. 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 for the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the previous year, the business posted $6.85 earnings per share. Lam Research’s quarterly revenue was up 19.7% on a year-over-year basis. As a group, sell-side analysts expect that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed 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. This represents a $0.92 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Wednesday, December 11th. Lam Research’s payout ratio is 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.