Victory Capital Management Inc. Sells 38,591 Shares of Lam Research Co. (NASDAQ:LRCX)

Victory Capital Management Inc. reduced its stake in Lam Research Co. (NASDAQ:LRCX) by 21.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,673 shares of the semiconductor company’s stock after selling 38,591 shares during the period. Victory Capital Management Inc.’s holdings in Lam Research were worth $112,352,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Van ECK Associates Corp grew its position in Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after buying an additional 15,005,178 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Lam Research by 1.2% in the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after purchasing an additional 144,914 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Lam Research by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after purchasing an additional 142,903 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Lam Research by 7.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock valued at $1,335,522,000 after purchasing an additional 89,470 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Lam Research by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock worth $654,009,000 after buying an additional 25,362 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LRCX has been the subject of a number of research analyst reports. Wells Fargo & Company dropped their price objective on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Mizuho cut their price objective on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Lam Research in a research report on Thursday, October 24th. BNP Paribas upgraded Lam Research to a “hold” rating in a research report on Thursday, October 24th. Finally, UBS Group reduced their price target on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of the stock in a transaction 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 sale, the chief accounting officer now directly 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 legal filing with the SEC, which is accessible through this link. 0.29% of the stock is owned by company insiders.

Lam Research Trading Down 0.6 %

NASDAQ LRCX opened at $75.70 on Wednesday. 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 stock has a market cap of $97.40 billion, a P/E ratio of 24.47, a price-to-earnings-growth ratio of 1.21 and a beta of 1.48. The stock has a 50 day simple moving average of $77.55 and a two-hundred day simple moving average of $88.44. Lam Research Co. has a fifty-two week low of $67.06 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $4.06 billion. During the same quarter 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. On average, analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s dividend payout ratio is 29.74%.

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.