Wealth Architects LLC Lowers Holdings in Lam Research Co. (NASDAQ:LRCX)

Wealth Architects LLC reduced its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 12.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,540 shares of the semiconductor company’s stock after selling 3,721 shares during the quarter. Lam Research accounts for 2.5% of Wealth Architects LLC’s holdings, making the stock its 12th largest position. Wealth Architects LLC’s holdings in Lam Research were worth $21,659,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of LRCX. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Lam Research during the 2nd quarter valued at approximately $32,000. RFP Financial Group LLC grew its position in Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares during the period. Hobbs Group Advisors LLC purchased a new position in Lam Research in the second quarter valued at $40,000. Country Trust Bank acquired a new position in shares of Lam Research in the second quarter worth about $43,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Lam Research during the 2nd quarter worth about $45,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on LRCX. Mizuho reduced their price target on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. UBS Group cut their price target on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Wells Fargo & Company cut their target price on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Finally, TD Cowen boosted their price target on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $97.03.

Lam Research Stock Up 0.5 %

Shares of NASDAQ:LRCX opened at $76.78 on Thursday. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The firm has a 50 day simple moving average of $77.73 and a 200-day simple moving average of $88.66. The company has a market capitalization of $98.79 billion, a PE ratio of 24.82, a P/E/G ratio of 1.18 and a beta of 1.48. Lam Research Co. has a twelve month low of $63.67 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the company posted $6.85 EPS. On average, equities analysts predict that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Tuesday, September 17th. Lam Research’s payout ratio is currently 29.74%.

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.