Kingfisher Capital LLC Decreases Stake in Lam Research Co. (NASDAQ:LRCX)

Kingfisher Capital LLC cut its stake in Lam Research Co. (NASDAQ:LRCX) by 6.5% in the third quarter, Holdings Channel reports. The fund owned 2,890 shares of the semiconductor company’s stock after selling 202 shares during the period. Kingfisher Capital LLC’s holdings in Lam Research were worth $2,358,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of LRCX. Icon Wealth Advisors LLC grew its position in Lam Research by 11.0% in the 3rd quarter. Icon Wealth Advisors LLC now owns 2,217 shares of the semiconductor company’s stock valued at $1,809,000 after acquiring an additional 220 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Lam Research by 29.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 38,140 shares of the semiconductor company’s stock valued at $31,132,000 after acquiring an additional 8,626 shares during the period. Alkeon Capital Management LLC grew its holdings in shares of Lam Research by 12.7% during the third quarter. Alkeon Capital Management LLC now owns 442,967 shares of the semiconductor company’s stock worth $361,497,000 after buying an additional 49,921 shares during the last quarter. Vinva Investment Management Ltd raised its stake in shares of Lam Research by 25.3% during the third quarter. Vinva Investment Management Ltd now owns 11,820 shares of the semiconductor company’s stock worth $9,777,000 after purchasing an additional 2,383 shares during the last quarter. Finally, Financial Counselors Inc. lifted its stake in shares of Lam Research by 6.5% in the 3rd quarter. Financial Counselors Inc. now owns 11,142 shares of the semiconductor company’s stock worth $9,093,000 after acquiring an additional 678 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the company’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 transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by company insiders.

Lam Research Trading Down 1.5 %

NASDAQ LRCX opened at $71.57 on Friday. The company has a market capitalization of $92.09 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 1.14 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 current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The firm’s fifty day simple moving average is $76.62 and its 200-day simple moving average is $86.79.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (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 business had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same period in the previous year, the company earned $6.85 EPS. The firm’s revenue was up 19.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.29%. Lam Research’s dividend payout ratio is currently 29.74%.

Wall Street Analyst Weigh In

LRCX has been the subject of several recent analyst reports. B. Riley reduced their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Mizuho lowered their price target on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. TD Cowen raised their price objective on shares of Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lowered their price target on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average target price of $97.97.

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.