Gateway Investment Advisers LLC Reduces Holdings in Lam Research Co. (NASDAQ:LRCX)

Gateway Investment Advisers LLC lowered its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,918 shares of the semiconductor company’s stock after selling 136 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Lam Research were worth $8,910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Lam Research in the 2nd quarter valued at approximately $32,000. RFP Financial Group LLC grew its position in shares of Lam Research by 52.2% in 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 period. Hobbs Group Advisors LLC bought a new position in shares of Lam Research in the 2nd quarter worth about $40,000. Country Trust Bank purchased a new position in Lam Research during the 2nd quarter valued at about $43,000. Finally, MFA Wealth Advisors LLC bought a new stake in Lam Research during the second quarter worth about $45,000. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Up 1.0 %

LRCX opened at $82.89 on Friday. Lam Research Co. has a 1-year low of $57.44 and a 1-year high of $113.00. The firm’s 50 day simple moving average is $94.96 and its two-hundred day simple moving average is $96.22. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. 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.

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

Lam Research Cuts Dividend

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

Insiders Place Their Bets

In related news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

LRCX has been the topic of a number of analyst reports. Morgan Stanley dropped their price target on Lam Research from $92.90 to $77.40 and set an “equal weight” rating on the stock in a research report on Tuesday, September 17th. Wells Fargo & Company dropped their target price on Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. B. Riley raised their price target on Lam Research from $113.00 to $132.50 and gave the company a “buy” rating in a report on Thursday, June 20th. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of 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 investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $141.28.

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.