Mather Group LLC. Trims Position in Lam Research Co. (NASDAQ:LRCX)

Mather Group LLC. trimmed its position in shares of Lam Research Co. (NASDAQ:LRCX) by 8.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,805 shares of the semiconductor company’s stock after selling 173 shares during the period. Mather Group LLC.’s holdings in Lam Research were worth $1,473,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Swedbank AB purchased a new position in shares of Lam Research in the first quarter valued at about $192,668,000. Van ECK Associates Corp lifted its holdings in Lam Research by 24.6% in the 1st quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company’s stock worth $940,592,000 after purchasing an additional 191,230 shares in the last quarter. Vanguard Group Inc. boosted its stake in Lam Research by 1.2% in the 1st 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 period. Price T Rowe Associates Inc. MD boosted its stake in Lam Research by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after purchasing an additional 142,903 shares during the period. Finally, Natixis grew its holdings in Lam Research by 1,267.1% during the 1st quarter. Natixis now owns 142,967 shares of the semiconductor company’s stock valued at $138,902,000 after buying an additional 132,509 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

LRCX stock opened at $81.01 on Wednesday. The firm has a market cap of $10.59 billion, a price-to-earnings ratio of 2.98, a PEG ratio of 1.51 and a beta of 1.47. Lam Research Co. has a twelve month low of $57.44 and a twelve month high of $113.00. 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 business’s fifty day simple moving average is $95.12 and its two-hundred day simple moving average is $96.64.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.76 by $0.05. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm’s revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 EPS. Analysts predict that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research Cuts Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Lam Research from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd. Morgan Stanley dropped their price objective on shares of Lam Research from $92.90 to $77.40 and set an “equal weight” rating for the company in a report on Tuesday, September 17th. Citigroup reduced their target price on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a report on Monday, September 16th. Needham & Company LLC reissued a “buy” rating and set a $113.00 price target on shares of Lam Research in a research note on Thursday, August 1st. Finally, Wells Fargo & Company reduced their price objective on Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $141.28.

Insiders Place Their Bets

In other Lam Research news, SVP Neil J. Fernandes sold 16,200 shares of the company’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 directly owns 52,370 shares in the company, valued at approximately $5,535,456.63. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Neil J. Fernandes sold 16,200 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were 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 in the company, valued at approximately $5,535,456.63. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. This 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 company insiders.

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.