Lam Research Co. (NASDAQ:LRCX) Shares Sold by Marshall Wace LLP

Marshall Wace LLP cut its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 80.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 600 shares of the semiconductor company’s stock after selling 2,457 shares during the quarter. Marshall Wace LLP’s holdings in Lam Research were worth $639,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Symmetry Investments LP acquired a new stake in shares of Lam Research in the second quarter valued at $3,229,000. Cypress Capital Group raised its position in Lam Research by 23.1% in the 2nd quarter. Cypress Capital Group now owns 3,528 shares of the semiconductor company’s stock valued at $3,757,000 after purchasing an additional 661 shares in the last quarter. Meeder Advisory Services Inc. boosted its stake in shares of Lam Research by 29.4% in the 2nd quarter. Meeder Advisory Services Inc. now owns 3,022 shares of the semiconductor company’s stock valued at $3,218,000 after buying an additional 686 shares during the period. Tairen Capital Ltd grew its position in shares of Lam Research by 199.5% during the second quarter. Tairen Capital Ltd now owns 163,605 shares of the semiconductor company’s stock worth $174,215,000 after buying an additional 108,973 shares in the last quarter. Finally, Brookstone Capital Management increased its stake in shares of Lam Research by 142.6% during the second quarter. Brookstone Capital Management now owns 1,601 shares of the semiconductor company’s stock worth $1,705,000 after buying an additional 941 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on LRCX shares. Citigroup lowered their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Mizuho cut their price target on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $113.00 price objective on shares of Lam Research in a research report on Thursday, August 1st. Finally, TD Cowen raised their target price on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and an average price target of $141.28.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research 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 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Lam Research news, SVP Neil J. Fernandes sold 16,200 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $105.70, for a total value of $1,712,323.80. Following the completion of the sale, the senior vice president now owns 52,370 shares of the company’s stock, valued at approximately $5,535,456.63. This trade represents a 0.00 % 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. Also, CAO Christina Correia sold 647 shares of the company’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 transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.

Lam Research Stock Performance

NASDAQ LRCX opened at $81.01 on Wednesday. The business’s 50-day moving average price is $95.12 and its 200 day moving average price is $96.64. 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 $10.59 billion, a P/E ratio of 2.99, a P/E/G ratio of 1.51 and a beta of 1.47. Lam Research Co. has a 52-week low of $57.44 and a 52-week high of $113.00.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.05. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, equities research analysts expect that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.14%. Lam Research’s dividend payout ratio (DPR) is 3.38%.

About Lam Research

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.