Lam Research Co. (NASDAQ:LRCX) Shares Sold by ING Groep NV

ING Groep NV decreased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 40.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,104 shares of the semiconductor company’s stock after selling 44,145 shares during the quarter. ING Groep NV’s holdings in Lam Research were worth $52,314,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Lam Research during the 2nd quarter worth approximately $32,000. RFP Financial Group LLC raised its holdings in shares of Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares during the period. Hobbs Group Advisors LLC acquired a new position in Lam Research during the second quarter valued at approximately $40,000. Country Trust Bank acquired a new position in shares of Lam Research during the 2nd quarter valued at $43,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Lam Research in the second quarter worth about $45,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of LRCX traded up $1.34 during midday trading on Thursday, reaching $75.19. The stock had a trading volume of 2,591,641 shares, compared to its average volume of 11,214,641. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The company has a market capitalization of $96.75 billion, a P/E ratio of 24.32, a P/E/G ratio of 1.20 and a beta of 1.48. The firm’s 50 day moving average price is $77.37 and its 200-day moving average price is $88.21. Lam Research Co. has a 52 week low of $68.72 and a 52 week high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same period in the previous year, the business earned $6.85 earnings per share. Lam Research’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 fiscal year.

Lam Research Announces Dividend

The firm also recently announced 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 yield of 1.22%. The ex-dividend date is Wednesday, December 11th. Lam Research’s payout ratio is 29.74%.

Analysts Set New Price Targets

A number of equities analysts have commented on LRCX shares. TD Cowen boosted their price objective on shares of Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. BNP Paribas upgraded Lam Research to a “hold” rating in a research note on Thursday, October 24th. Stifel Nicolaus restated a “buy” rating and set a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Morgan Stanley dropped their price objective on Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Finally, Mizuho reduced their target price on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

Insiders Place Their Bets

In other news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is currently owned by company insiders.

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.