STF Management LP Lowers Holdings in Lam Research Co. (NASDAQ:LRCX)

STF Management LP trimmed its holdings in Lam Research Co. (NASDAQ:LRCX) by 7.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,936 shares of the semiconductor company’s stock after selling 163 shares during the quarter. STF Management LP’s holdings in Lam Research were worth $1,580,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Jennison Associates LLC grew its position in Lam Research by 20.0% in the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after acquiring an additional 39,725 shares during the period. Creative Planning grew its position in Lam Research by 2.5% in the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after acquiring an additional 1,146 shares during the period. Vest Financial LLC grew its position in Lam Research by 68.7% in the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock worth $29,372,000 after acquiring an additional 14,658 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in Lam Research by 9.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company’s stock worth $278,165,000 after acquiring an additional 28,089 shares during the period. Finally, Benson Investment Management Company Inc. purchased a new position in Lam Research in the third quarter worth approximately $5,182,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Performance

Shares of LRCX stock opened at $73.05 on Friday. The stock’s 50-day moving average is $76.97 and its two-hundred day moving average is $87.46. The firm has a market cap of $93.99 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 1.12 and a beta of 1.48. Lam Research Co. has a 1 year low of $68.72 and a 1 year 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.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data 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. The company had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter last year, the company posted $6.85 earnings per share. Analysts predict that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.74%.

Analyst Upgrades and Downgrades

LRCX has been the topic of a number of research reports. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. BNP Paribas upgraded Lam Research to a “hold” rating in a research note on Thursday, October 24th. Morgan Stanley decreased their price target on Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft decreased their price target on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Finally, StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Insider Buying and Selling

In related news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was 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 of the company’s stock, valued at $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.29% of the company’s stock.

Lam Research 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.