Lam Research Co. (NASDAQ:LRCX) Shares Sold by Royal Fund Management LLC

Royal Fund Management LLC cut its holdings in Lam Research Co. (NASDAQ:LRCX) by 20.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,969 shares of the semiconductor company’s stock after selling 1,308 shares during the period. Royal Fund Management LLC’s holdings in Lam Research were worth $4,083,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. CarsonAllaria Wealth Management Ltd. acquired a new position in Lam Research in the second quarter valued at approximately $32,000. RFP Financial Group LLC boosted its position in Lam Research by 52.2% during the 2nd 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. Raleigh Capital Management Inc. boosted its position in Lam Research by 78.6% during the 4th quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 22 shares during the period. Hobbs Group Advisors LLC bought a new position in Lam Research during the 2nd quarter worth $40,000. Finally, Country Trust Bank acquired a new stake in Lam Research in the second quarter worth $43,000. Institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated 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 owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction 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 $3,488,315.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Neil J. Fernandes sold 16,200 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $105.70, for a total transaction of $1,712,323.80. Following the transaction, the senior vice president now owns 52,370 shares in the company, valued at approximately $5,535,456.63. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LRCX shares. B. Riley boosted their price target on shares of Lam Research from $113.00 to $132.50 and gave the company a “buy” rating in a report on Thursday, June 20th. Mizuho reduced their target price on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. StockNews.com upgraded shares of Lam Research from a “hold” rating to a “buy” rating in a research note on Thursday, October 3rd. Cantor Fitzgerald reduced their price objective on Lam Research from $120.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, September 30th. Finally, Needham & Company LLC restated a “buy” rating and issued a $113.00 target price on shares of Lam Research in a research report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $141.28.

Lam Research Trading Down 0.0 %

Shares of Lam Research stock traded down $0.03 on Wednesday, reaching $80.98. 488,988 shares of the company were exchanged, compared to its average volume of 10,960,967. Lam Research Co. has a fifty-two week low of $57.44 and a fifty-two week high of $113.00. The firm has a market capitalization of $10.59 billion, a price-to-earnings ratio of 2.98, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The stock has a fifty day moving average price of $95.03 and a 200-day moving average price of $96.52.

Lam Research (NASDAQ:LRCX) last released its quarterly 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 net margin of 25.68% and a return on equity of 48.71%. 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 business earned $0.60 earnings per share. The firm’s revenue was up 20.7% compared to the same quarter last year. On average, analysts expect that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.14%. The ex-dividend date was Tuesday, September 17th. Lam Research’s payout ratio 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.