Lam Research Co. (NASDAQ:LRCX) Shares Sold by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd reduced its holdings in Lam Research Co. (NASDAQ:LRCX) by 55.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,446 shares of the semiconductor company’s stock after selling 2,991 shares during the period. AustralianSuper Pty Ltd’s holdings in Lam Research were worth $1,996,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of LRCX. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Lam Research in the second quarter valued at approximately $32,000. RFP Financial Group LLC increased its position in Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in Lam Research during the second quarter worth about $40,000. Country Trust Bank acquired a new position in Lam Research in the 2nd quarter valued at about $43,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Lam Research in the 2nd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of the firm’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 value of $528,928.97. Following the completion of the transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LRCX. TD Cowen lifted their price target on shares of Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. UBS Group decreased their price target on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Mizuho cut their price objective on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. B. Riley lowered 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, Wells Fargo & Company lowered their price objective on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.03.

Lam Research Trading Down 2.7 %

NASDAQ:LRCX opened at $74.35 on Friday. The stock’s 50 day simple moving average is $78.33 and its 200-day simple moving average is $89.13. Lam Research Co. has a 12-month low of $57.44 and a 12-month high of $113.00. 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 firm has a market cap of $95.67 billion, a P/E ratio of 24.03, a PEG ratio of 1.22 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.85 earnings per share. Equities analysts anticipate that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were issued a $0.23 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.24%. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

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.