ProShare Advisors LLC Has $96.08 Million Position in Lam Research Co. (NASDAQ:LRCX)

ProShare Advisors LLC reduced its position in shares of Lam Research Co. (NASDAQ:LRCX) by 2.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 149,455 shares of the semiconductor company’s stock after selling 3,818 shares during the quarter. ProShare Advisors LLC owned 0.11% of Lam Research worth $96,079,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Steward Financial Group LLC purchased a new position in shares of Lam Research during the 2nd quarter valued at $32,000. First Manhattan CO. LLC. grew its holdings in shares of Lam Research by 117.2% during the 1st quarter. First Manhattan CO. LLC. now owns 63 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 34 shares in the last quarter. Cornerstone Management Inc. grew its holdings in shares of Lam Research by 225.0% during the 1st quarter. Cornerstone Management Inc. now owns 65 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 45 shares in the last quarter. Chilton Capital Management LLC purchased a new position in shares of Lam Research during the 1st quarter valued at $36,000. Finally, Coppell Advisory Solutions Corp. purchased a new position in shares of Lam Research during the 4th quarter valued at $39,000. 84.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Patrick J. Lord sold 1,845 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $675.00, for a total transaction of $1,245,375.00. Following the sale, the executive vice president now directly owns 11,737 shares of the company’s stock, valued at $7,922,475. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $627.75, for a total transaction of $553,675.50. Following the sale, the director now directly owns 12,117 shares of the company’s stock, valued at $7,606,446.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Patrick J. Lord sold 1,845 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $675.00, for a total transaction of $1,245,375.00. Following the sale, the executive vice president now directly owns 11,737 shares in the company, valued at $7,922,475. The disclosure for this sale can be found here. Insiders have sold 7,404 shares of company stock valued at $5,057,582 over the last three months. 0.32% of the stock is owned by insiders.

Lam Research Price Performance

Shares of Lam Research stock opened at $700.34 on Monday. The company has a current ratio of 3.06, a quick ratio of 1.94 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $92.30 billion, a price-to-earnings ratio of 23.81, a P/E/G ratio of 4.84 and a beta of 1.52. Lam Research Co. has a 1-year low of $397.06 and a 1-year high of $726.53. The firm’s 50-day moving average price is $633.31 and its two-hundred day moving average price is $633.62.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, October 18th. The semiconductor company reported $6.85 earnings per share for the quarter, topping the consensus estimate of $6.15 by $0.70. The firm had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.42 billion. Lam Research had a net margin of 25.08% and a return on equity of 50.02%. The company’s quarterly revenue was down 31.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.42 earnings per share. On average, equities analysts predict that Lam Research Co. will post 27.65 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 13th will be paid a dividend of $2.00 per share. This is a boost from Lam Research’s previous quarterly dividend of $0.28. This represents a $8.00 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Tuesday, December 12th. Lam Research’s dividend payout ratio is 27.20%.

Analysts Set New Price Targets

Several research firms have recently commented on LRCX. JPMorgan Chase & Co. lowered their price target on shares of Lam Research from $720.00 to $700.00 and set an “overweight” rating on the stock in a report on Thursday, October 19th. Raymond James began coverage on shares of Lam Research in a report on Tuesday, October 17th. They issued an “outperform” rating and a $725.00 price objective for the company. Wolfe Research began coverage on shares of Lam Research in a report on Thursday, September 14th. They issued an “outperform” rating and a $825.00 price objective for the company. StockNews.com began coverage on shares of Lam Research in a report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Needham & Company LLC upgraded shares of Lam Research from a “hold” rating to a “buy” rating and set a $800.00 price objective for the company in a report on Friday, October 13th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $660.00.

Lam Research 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.