Lam Research Co. (NASDAQ:LRCX) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC decreased its holdings in Lam Research Co. (NASDAQ:LRCX) by 63.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 63,461 shares of the semiconductor company’s stock after selling 110,656 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Lam Research were worth $51,789,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Lam Research in the 2nd quarter valued at approximately $32,000. RFP Financial Group LLC raised its holdings in Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 12 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in Lam Research during the 2nd quarter valued at $40,000. MFA Wealth Advisors LLC acquired a new position in Lam Research during the 2nd quarter worth $45,000. Finally, Rosenberg Matthew Hamilton raised its stake in shares of Lam Research by 24.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 62 shares of the semiconductor company’s stock valued at $66,000 after purchasing an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Trading Up 0.9 %

Lam Research stock opened at $76.26 on Friday. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The firm’s 50 day moving average price is $75.77 and its two-hundred day moving average price is $85.42. The firm has a market cap of $98.12 billion, a price-to-earnings ratio of 24.68, a price-to-earnings-growth ratio of 1.25 and a beta of 1.46. 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 posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The company had revenue of $4.17 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm earned $6.85 earnings per share. On average, research analysts predict that Lam Research Co. will post 3.5 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.21%. Lam Research’s payout ratio is currently 29.77%.

Insider Transactions at Lam Research

In related news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

LRCX has been the subject of a number of research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. Citigroup dropped 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. Stifel Nicolaus restated a “buy” rating and issued a $100.00 target price (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Sanford C. Bernstein dropped their price target on Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a research report on Friday, November 29th. Finally, UBS Group reduced their price objective on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and a consensus price target of $97.24.

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.