Cetera Trust Company N.A Sells 250 Shares of Lam Research Co. (NASDAQ:LRCX)

Cetera Trust Company N.A trimmed its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 5.6% during the third quarter, Holdings Channel reports. The firm owned 4,246 shares of the semiconductor company’s stock after selling 250 shares during the quarter. Lam Research comprises 2.1% of Cetera Trust Company N.A’s portfolio, making the stock its 6th largest holding. Cetera Trust Company N.A’s holdings in Lam Research were worth $3,465,000 as of its most recent filing with the SEC.

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

Insiders Place Their Bets

In related news, CAO Christina Correia sold 647 shares of the business’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 sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on LRCX shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Morgan Stanley cut their price objective on Lam Research from $92.90 to $77.40 and set an “equal weight” rating for the company in a report on Tuesday, September 17th. UBS Group lowered their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Needham & Company LLC restated a “buy” rating and set a $113.00 price objective on shares of Lam Research in a research report on Thursday, August 1st. Finally, Wells Fargo & Company lowered their price objective on shares of Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $141.28.

Lam Research Stock Down 0.6 %

Shares of LRCX traded down $0.45 during trading hours on Tuesday, reaching $72.39. The company’s stock had a trading volume of 4,409,821 shares, compared to its average volume of 11,128,036. The company has a 50 day moving average of $79.99 and a two-hundred day moving average of $90.26. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The firm has a market cap of $9.46 billion, a price-to-earnings ratio of 2.66, a P/E/G ratio of 1.75 and a beta of 1.47. Lam Research Co. has a 1-year low of $57.44 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.05. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 EPS. As a group, research analysts predict that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were paid 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 1.27%. Lam Research’s dividend payout ratio (DPR) is currently 3.38%.

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.