Lam Research Co. (NASDAQ:LRCX) Stake Lowered by Ritholtz Wealth Management

Ritholtz Wealth Management decreased its stake in Lam Research Co. (NASDAQ:LRCX) by 18.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,771 shares of the semiconductor company’s stock after selling 636 shares during the period. Ritholtz Wealth Management’s holdings in Lam Research were worth $2,261,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Lam Research in the second quarter valued at approximately $32,000. RFP Financial Group LLC raised 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 in the last quarter. Raleigh Capital Management Inc. boosted its position in Lam Research by 78.6% during the 4th quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 22 shares during the period. Hobbs Group Advisors LLC acquired a new position in Lam Research during the 2nd quarter worth $40,000. Finally, Country Trust Bank acquired a new position in shares of Lam Research during the second quarter valued at $43,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Transactions at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the business’s 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 of the company’s stock, valued at $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 is available at this hyperlink. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

LRCX has been the subject of several research analyst reports. TD Cowen upped their price objective 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. Citigroup reduced their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday. UBS Group dropped their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $141.28.

Lam Research Stock Performance

Shares of LRCX opened at $82.89 on Friday. The company has a market capitalization of $10.84 billion, a PE ratio of 3.05, a PEG ratio of 1.75 and a beta of 1.47. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The company’s 50 day moving average price is $94.96 and its 200 day moving average price is $96.22. Lam Research Co. has a 52 week low of $57.44 and a 52 week high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.76 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the previous year, the company posted $0.60 EPS. Lam Research’s revenue was up 20.7% on a year-over-year basis. Research analysts expect that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.11%. The ex-dividend date was Tuesday, September 17th. Lam Research’s payout ratio is currently 3.38%.

Lam Research 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.