Linscomb Wealth Inc. Reduces Position in Lam Research Co. (NASDAQ:LRCX)

Linscomb Wealth Inc. lessened its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,736 shares of the semiconductor company’s stock after selling 384 shares during the period. Lam Research makes up about 0.7% of Linscomb Wealth Inc.’s portfolio, making the stock its 20th biggest position. Linscomb Wealth Inc.’s holdings in Lam Research were worth $13,658,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. CarsonAllaria Wealth Management Ltd. acquired a new stake in Lam Research during the 2nd quarter valued at approximately $32,000. RFP Financial Group LLC lifted 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 acquiring an additional 12 shares during the period. Hobbs Group Advisors LLC acquired a new stake in Lam Research during the 2nd quarter valued at approximately $40,000. Country Trust Bank acquired a new stake in Lam Research during the 2nd quarter valued at approximately $43,000. Finally, MFA Wealth Advisors LLC acquired a new stake in Lam Research during the 2nd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of Lam Research stock traded down $3.30 during trading hours on Friday, reaching $71.49. 3,333,706 shares of the company’s stock were exchanged, compared to its average volume of 11,211,154. Lam Research Co. has a 1 year low of $68.72 and a 1 year high of $113.00. The company has a market capitalization of $91.99 billion, a P/E ratio of 23.35, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48. The business has a fifty day moving average of $77.34 and a two-hundred day moving average of $88.12. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the prior year, the firm earned $6.85 earnings per share. The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. As a group, research analysts predict that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently announced 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 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 Transactions at Lam Research

In related news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction dated 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 owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on LRCX shares. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Wells Fargo & Company decreased their target price on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. B. Riley decreased 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. Finally, BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. 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 has an average rating of “Moderate Buy” and a consensus target price of $97.03.

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.