Lam Research Co. (NASDAQ:LRCX) Position Cut by Toroso Investments LLC

Toroso Investments LLC trimmed its holdings in Lam Research Co. (NASDAQ:LRCX – Get Rating) by 26.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,994 shares of the semiconductor company’s stock after selling 1,464 shares during the quarter. Toroso Investments LLC’s holdings in Lam Research were worth $1,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. lifted its position in shares of Lam Research by 3.2% during the second quarter. Brown Brothers Harriman & Co. now owns 744 shares of the semiconductor company’s stock valued at $317,000 after purchasing an additional 23 shares in the last quarter. Fort Point Capital Partners LLC increased its stake in shares of Lam Research by 3.7% in the first quarter. Fort Point Capital Partners LLC now owns 672 shares of the semiconductor company’s stock worth $361,000 after purchasing an additional 24 shares in the last quarter. Tyler Stone Wealth Management increased its stake in shares of Lam Research by 2.8% in the second quarter. Tyler Stone Wealth Management now owns 934 shares of the semiconductor company’s stock worth $398,000 after purchasing an additional 25 shares in the last quarter. Sandy Spring Bank increased its stake in shares of Lam Research by 18.6% in the third quarter. Sandy Spring Bank now owns 172 shares of the semiconductor company’s stock worth $63,000 after purchasing an additional 27 shares in the last quarter. Finally, RFG Advisory LLC increased its stake in shares of Lam Research by 6.3% in the third quarter. RFG Advisory LLC now owns 457 shares of the semiconductor company’s stock worth $203,000 after purchasing an additional 27 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Stock Down 1.3 %

NASDAQ:LRCX opened at $508.36 on Friday. Lam Research Co. has a twelve month low of $299.59 and a twelve month high of $574.79. The company has a market cap of $68.60 billion, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 8.52 and a beta of 1.48. The stock has a fifty day simple moving average of $491.71 and a 200-day simple moving average of $443.13. The company has a current ratio of 3.02, a quick ratio of 1.95 and a debt-to-equity ratio of 0.60.

Lam Research (NASDAQ:LRCX – Get Rating) last posted its earnings results on Wednesday, January 25th. The semiconductor company reported $10.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.95 by $0.76. The company had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.08 billion. Lam Research had a return on equity of 73.48% and a net margin of 26.91%. The firm’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.53 earnings per share. Analysts anticipate that Lam Research Co. will post 33.3 EPS for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 5th. Investors of record on Wednesday, March 15th will be issued a dividend of $1.725 per share. This represents a $6.90 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Tuesday, March 14th. Lam Research’s dividend payout ratio (DPR) is 18.55%.

Insider Buying and Selling

In related news, Director Abhijit Y. Talwalkar sold 880 shares of Lam Research stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $429.72, for a total transaction of $378,153.60. Following the completion of the sale, the director now owns 14,762 shares of the company’s stock, valued at $6,343,526.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Richard A. Gottscho sold 3,540 shares of the business’s stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $450.00, for a total value of $1,593,000.00. Following the completion of the sale, the executive vice president now directly owns 26,672 shares in the company, valued at $12,002,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Abhijit Y. Talwalkar sold 880 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $429.72, for a total value of $378,153.60. Following the completion of the sale, the director now owns 14,762 shares of the company’s stock, valued at $6,343,526.64. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LRCX. UBS Group raised their price objective on shares of Lam Research from $450.00 to $530.00 and gave the company a “buy” rating in a research report on Wednesday, November 30th. Evercore ISI set a $450.00 target price on shares of Lam Research in a research report on Wednesday, November 23rd. The Goldman Sachs Group lifted their target price on shares of Lam Research from $434.00 to $495.00 and gave the company a “buy” rating in a research report on Thursday, January 26th. B. Riley boosted their price objective on shares of Lam Research from $390.00 to $440.00 and gave the stock a “neutral” rating in a report on Monday, January 23rd. Finally, StockNews.com began coverage on shares of Lam Research in a report on Thursday. They issued a “buy” rating for the company. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $492.10.

Lam Research Company Profile

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Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.