Linscomb Wealth Inc. Reduces Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Linscomb Wealth Inc. lowered its stake in Lam Research Co. (NASDAQ:LRCX) by 2.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 16,736 shares of the semiconductor company’s stock after selling 384 shares during the quarter. Lam Research comprises about 0.7% of Linscomb Wealth Inc.’s investment portfolio, making the stock its 20th biggest position. Linscomb Wealth Inc.’s holdings in Lam Research were worth $13,658,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of LRCX. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Lam Research during the second quarter worth about $32,000. RFP Financial Group LLC lifted its position 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 worth $37,000 after purchasing an additional 12 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Lam Research during the second quarter worth about $40,000. Country Trust Bank acquired a new stake in shares of Lam Research during the second quarter worth about $43,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Lam Research during the second quarter worth about $45,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the firm’s 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 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. This trade represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by corporate insiders.

Lam Research Stock Performance

Shares of NASDAQ LRCX traded down $3.30 during mid-day trading on Friday, hitting $71.49. 3,333,706 shares of the company were exchanged, compared to its average volume of 11,211,154. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The stock has a 50 day simple moving average of $77.34 and a 200-day simple moving average of $88.12. Lam Research Co. has a 1-year low of $68.72 and a 1-year high of $113.00. The firm has a market cap of $91.99 billion, a price-to-earnings ratio of 23.35, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping 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 firm had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same period last year, the company earned $6.85 earnings per share. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. On average, sell-side analysts forecast that Lam Research Co. will post 3.52 EPS for the current fiscal 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 issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is currently 29.74%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wells Fargo & Company dropped their price target on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. B. Riley dropped their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft dropped their price target 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. Finally, TD Cowen increased their price target 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. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average target price of $97.03.

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.