Bamco Inc. NY Sells 10,962 Shares of Lam Research Co. (NASDAQ:LRCX)

Bamco Inc. NY reduced its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 93.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 831 shares of the semiconductor company's stock after selling 10,962 shares during the quarter. Bamco Inc. NY's holdings in Lam Research were worth $678,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LRCX. Van ECK Associates Corp lifted its holdings in Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company's stock worth $13,123,440,000 after purchasing an additional 15,005,178 shares during the last quarter. Foster Victor Wealth Advisors LLC lifted its holdings in Lam Research by 994.1% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company's stock worth $190,066,000 after purchasing an additional 211,614 shares during the last quarter. Bridgewater Associates LP lifted its holdings in Lam Research by 315.0% in the 3rd quarter. Bridgewater Associates LP now owns 276,052 shares of the semiconductor company's stock worth $225,281,000 after purchasing an additional 209,537 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in Lam Research by 208.2% in the 2nd quarter. Panagora Asset Management Inc. now owns 175,616 shares of the semiconductor company's stock worth $187,005,000 after purchasing an additional 118,634 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new stake in Lam Research in the 3rd quarter worth approximately $96,483,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Christina Correia sold 647 shares of the company's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares of the company's stock, valued at $3,488,315.17. This represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.29% of the stock is currently owned by insiders.

Lam Research Price Performance

Shares of LRCX stock traded down $0.08 during trading hours on Wednesday, hitting $78.26. 9,364,082 shares of the company's stock were exchanged, compared to its average volume of 11,254,305. The stock's 50-day moving average is $76.52 and its 200-day moving average is $86.32. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The stock has a market cap of $100.70 billion, a price-to-earnings ratio of 25.29, a price-to-earnings-growth ratio of 1.25 and a beta of 1.46. Lam Research Co. has a 52 week low of $68.72 and a 52 week high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company had revenue of $4.17 billion for the quarter, compared to analysts' expectations of $4.06 billion. During the same quarter in the prior year, the business earned $6.85 earnings per share. The business's revenue for the quarter was up 19.7% on a year-over-year basis. As a group, research analysts forecast that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Wednesday, December 11th. Lam Research's dividend payout ratio (DPR) is presently 29.74%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Sanford C. Bernstein cut their price target on Lam Research from $95.00 to $85.00 and set a "market perform" rating for the company in a report on Friday, November 29th. Morgan Stanley cut their price target on Lam Research from $81.00 to $77.00 and set an "equal weight" rating for the company in a report on Wednesday, October 23rd. BNP Paribas upgraded Lam Research to a "hold" rating in a report on Thursday, October 24th. Mizuho cut 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. Finally, B. Riley cut their price target on Lam Research from $132.50 to $105.00 and set a "buy" rating for the company in a report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $97.29.

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.