Brown Financial Advisors Decreases Stock Position in Lam Research Co. (NASDAQ:LRCX)

Brown Financial Advisors cut its stake in Lam Research Co. (NASDAQ:LRCX) by 26.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,027 shares of the semiconductor company’s stock after selling 371 shares during the period. Brown Financial Advisors’ holdings in Lam Research were worth $838,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. purchased a new stake in Lam Research during the 2nd quarter worth about $32,000. RFP Financial Group LLC lifted its holdings in Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after buying an additional 12 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in Lam Research during the 2nd quarter worth about $40,000. MFA Wealth Advisors LLC purchased a new stake in Lam Research during the 2nd quarter worth about $45,000. Finally, ORG Partners LLC purchased a new stake in Lam Research during the 2nd quarter worth about $65,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LRCX has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Morgan Stanley lifted their target price on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 target price (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. UBS Group cut their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $97.24.

Lam Research Stock Performance

NASDAQ LRCX opened at $75.13 on Wednesday. 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 business’s 50 day moving average is $76.15 and its two-hundred day moving average is $85.92. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The stock has a market capitalization of $96.67 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 1.22 and a beta of 1.46.

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 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 analysts’ expectations of $4.06 billion. During the same quarter in the previous year, the firm posted $6.85 EPS. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. Research analysts expect that Lam Research Co. will post 3.5 EPS for the current year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s payout ratio is 29.77%.

Insiders Place Their Bets

In other news, CAO Christina Correia sold 647 shares of the business’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 transaction of $528,928.97. Following the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 13.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is currently owned by insiders.

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.