Lam Research Co. (NASDAQ:LRCX) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. trimmed its stake in Lam Research Co. (NASDAQ:LRCX) by 85.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 259 shares of the semiconductor company’s stock after selling 1,561 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Lam Research were worth $211,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. EntryPoint Capital LLC grew its holdings in Lam Research by 360.6% during the 1st quarter. EntryPoint Capital LLC now owns 152 shares of the semiconductor company’s stock worth $148,000 after acquiring an additional 119 shares in the last quarter. CreativeOne Wealth LLC increased its holdings in shares of Lam Research by 4.4% in the first quarter. CreativeOne Wealth LLC now owns 1,454 shares of the semiconductor company’s stock valued at $1,412,000 after purchasing an additional 61 shares during the period. EP Wealth Advisors LLC increased its holdings in shares of Lam Research by 28.8% in the first quarter. EP Wealth Advisors LLC now owns 4,133 shares of the semiconductor company’s stock valued at $4,015,000 after purchasing an additional 924 shares during the period. Axxcess Wealth Management LLC increased its holdings in shares of Lam Research by 13.5% in the first quarter. Axxcess Wealth Management LLC now owns 1,889 shares of the semiconductor company’s stock valued at $1,835,000 after purchasing an additional 225 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in shares of Lam Research by 13.9% in the first quarter. Advisors Asset Management Inc. now owns 3,683 shares of the semiconductor company’s stock valued at $3,578,000 after buying an additional 449 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LRCX has been the topic of a number of analyst reports. Mizuho decreased 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. Citigroup decreased their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research note on Monday, September 16th. TD Cowen increased their price objective on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Finally, Morgan Stanley reduced their target price on Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.03.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $70.05 on Thursday. Lam Research Co. has a fifty-two week low of $68.72 and a fifty-two week high of $113.00. The business has a 50 day moving average price of $77.04 and a two-hundred day moving average price of $87.56. 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 firm has a market cap of $90.13 billion, a PE ratio of 22.67, a price-to-earnings-growth ratio of 1.11 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. The firm had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.85 EPS. Sell-side analysts expect that Lam Research Co. will post 3.52 earnings per share 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 1.31%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is currently 29.77%.

Insiders Place Their Bets

In other Lam Research news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.29% of the company’s stock.

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.