Main Street Financial Solutions LLC Sells 382 Shares of Lam Research Co. (NASDAQ:LRCX)

Main Street Financial Solutions LLC trimmed its position in Lam Research Co. (NASDAQ:LRCX) by 55.3% in the 3rd quarter, Holdings Channel reports. The firm owned 309 shares of the semiconductor company’s stock after selling 382 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Lam Research were worth $252,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in LRCX. Fortitude Family Office LLC raised its position in Lam Research by 16.7% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock worth $67,000 after purchasing an additional 9 shares during the period. Thomasville National Bank boosted its holdings in Lam Research by 1.5% during the 2nd quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock valued at $865,000 after acquiring an additional 12 shares during the period. Ignite Planners LLC grew its position in Lam Research by 2.8% during the 2nd quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock worth $484,000 after acquiring an additional 12 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its stake in Lam Research by 3.7% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock worth $357,000 after purchasing an additional 12 shares during the period. Finally, RFP Financial Group LLC lifted its position in Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Up 1.3 %

Shares of Lam Research stock opened at $74.79 on Friday. The stock has a market capitalization of $96.23 billion, a PE ratio of 24.17, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The company has a 50-day simple moving average of $77.37 and a two-hundred day simple moving average of $88.21. Lam Research Co. has a 52-week low of $68.72 and a 52-week high of $113.00.

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

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s payout ratio is presently 29.74%.

Insider Transactions at Lam Research

In other news, 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 value of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. This represents a 13.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

LRCX has been the topic of several recent analyst reports. B. Riley cut their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Mizuho dropped their price target on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Morgan Stanley decreased their price objective on shares of 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. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.03.

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.