Kingfisher Capital LLC Decreases Stake in Lam Research Co. (NASDAQ:LRCX)

Kingfisher Capital LLC lessened its holdings in Lam Research Co. (NASDAQ:LRCX) by 6.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,890 shares of the semiconductor company’s stock after selling 202 shares during the period. Kingfisher Capital LLC’s holdings in Lam Research were worth $2,358,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. bought a new position in Lam Research during the second quarter valued at about $32,000. RFP Financial Group LLC grew its position in shares of 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 acquiring an additional 12 shares during the period. Hobbs Group Advisors LLC purchased a new stake in shares of Lam Research during the 2nd quarter worth approximately $40,000. Country Trust Bank bought a new stake in shares of Lam Research in the 2nd quarter worth approximately $43,000. Finally, MFA Wealth Advisors LLC purchased a new position in Lam Research in the second quarter valued at approximately $45,000. 84.61% of the stock is owned by institutional investors.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $71.57 on Friday. Lam Research Co. has a fifty-two week low of $68.72 and a fifty-two week high of $113.00. 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 fifty day moving average price of $76.62 and a 200 day moving average price of $86.79. The firm has a market cap of $92.09 billion, a price-to-earnings ratio of 23.13, a P/E/G ratio of 1.14 and a beta of 1.48.

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, 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 company had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the prior year, the firm posted $6.85 EPS. Lam Research’s quarterly revenue was up 19.7% compared to the same quarter last year. 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 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 given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Wednesday, December 11th. Lam Research’s payout ratio is 29.74%.

Insider Buying and Selling at Lam Research

In related news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred on 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on LRCX shares. BNP Paribas raised Lam Research to a “hold” rating in a research report on Thursday, October 24th. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 price objective (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. B. Riley reduced their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $97.97.

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.