STF Management LP Reduces Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

STF Management LP trimmed its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 7.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,936 shares of the semiconductor company’s stock after selling 163 shares during the quarter. STF Management LP’s holdings in Lam Research were worth $1,580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. purchased a new position in Lam Research during the 2nd quarter worth $32,000. RFP Financial Group LLC grew its stake in Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in Lam Research during the 2nd quarter valued at about $40,000. Country Trust Bank purchased a new stake in Lam Research during the 2nd quarter valued at about $43,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Lam Research during the 2nd quarter valued at about $45,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Price Performance

NASDAQ:LRCX opened at $73.05 on Friday. Lam Research Co. has a 12 month low of $68.72 and a 12 month high of $113.00. The stock has a 50 day moving average of $76.97 and a two-hundred day moving average of $87.46. 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 firm has a market cap of $93.99 billion, a P/E ratio of 23.61, a price-to-earnings-growth ratio of 1.12 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data 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 50.60% and a net margin of 26.02%. The company had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same period in the previous year, the business earned $6.85 EPS. Lam Research’s quarterly revenue was up 19.7% on a year-over-year basis. On average, analysts expect that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.26%. Lam Research’s dividend payout ratio (DPR) is currently 29.74%.

Analyst Ratings Changes

Several analysts have weighed in on LRCX shares. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Wells Fargo & Company dropped their price target on Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Morgan Stanley decreased their price objective on Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.03.

Insiders Place Their Bets

In other 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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by company insiders.

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.