KBC Group NV Trims Holdings in Lam Research Co. (NASDAQ:LRCX)

KBC Group NV reduced its position in shares of Lam Research Co. (NASDAQ:LRCX) by 20.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 136,467 shares of the semiconductor company’s stock after selling 36,158 shares during the period. KBC Group NV’s holdings in Lam Research were worth $111,368,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Huntington National Bank grew its stake in Lam Research by 2.8% in the 3rd quarter. Huntington National Bank now owns 28,235 shares of the semiconductor company’s stock worth $23,042,000 after acquiring an additional 770 shares during the period. Plato Investment Management Ltd grew its stake in shares of Lam Research by 3.6% in the third quarter. Plato Investment Management Ltd now owns 5,566 shares of the semiconductor company’s stock valued at $4,538,000 after buying an additional 191 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund raised its stake in shares of Lam Research by 1.7% during the third quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 43,859 shares of the semiconductor company’s stock valued at $35,792,000 after purchasing an additional 728 shares during the period. ICICI Prudential Asset Management Co Ltd lifted its holdings in Lam Research by 226.9% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 4,695 shares of the semiconductor company’s stock worth $3,831,000 after buying an additional 3,259 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its holdings in Lam Research by 742.9% in the third quarter. Cornerstone Planning Group LLC now owns 354 shares of the semiconductor company’s stock valued at $289,000 after purchasing an additional 312 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Lam Research Stock Down 2.4 %

Lam Research stock opened at $73.85 on Thursday. Lam Research Co. has a 52-week low of $68.39 and a 52-week high of $113.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The firm has a 50 day moving average price of $77.42 and a two-hundred day moving average price of $88.34. The firm has a market cap of $95.02 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 1.20 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $4.06 billion. During the same period last year, the business posted $6.85 EPS. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. Equities analysts predict that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.25%. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Stifel Nicolaus reissued a “buy” rating and set a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. TD Cowen boosted their target price on shares of Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Citigroup lowered their price objective on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research note on Monday, September 16th. Finally, Mizuho reduced their target price on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $97.03.

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.