Lam Research Co. (NASDAQ:LRCX) Shares Sold by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH decreased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 54.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 654 shares of the semiconductor company’s stock after selling 776 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Lam Research were worth $534,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of LRCX. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Lam Research in the 2nd quarter valued at approximately $32,000. RFP Financial Group LLC grew its position in Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 12 shares during the period. Hobbs Group Advisors LLC acquired a new stake in Lam Research during the second quarter worth $40,000. Country Trust Bank purchased a new stake in Lam Research in the second quarter valued at $43,000. Finally, Scarborough Advisors LLC purchased a new position in shares of Lam Research during the 4th quarter worth $45,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Up 3.4 %

Shares of NASDAQ LRCX opened at $85.70 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. Lam Research Co. has a 1 year low of $57.44 and a 1 year high of $113.00. The company has a market capitalization of $11.20 billion, a price-to-earnings ratio of 3.15, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47. The business has a 50-day moving average of $95.13 and a two-hundred day moving average of $96.14.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (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 company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. Lam Research’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.07%. Lam Research’s payout ratio is 3.38%.

Insiders Place Their Bets

In other news, CAO Christina Correia sold 647 shares of Lam Research 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 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on LRCX shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. B. Riley upped their price objective on shares of Lam Research from $113.00 to $132.50 and gave the stock a “buy” rating in a report on Thursday, June 20th. Needham & Company LLC reiterated a “buy” rating and issued a $113.00 target price on shares of Lam Research in a report on Thursday, August 1st. Mizuho decreased their price target on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Finally, Wells Fargo & Company lowered their price target on Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.