Lam Research Co. (NASDAQ:LRCX) Shares Sold by Fmr LLC

FMR LLC trimmed its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 14.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,534,505 shares of the semiconductor company's stock after selling 573,190 shares during the period. FMR LLC owned 0.27% of Lam Research worth $2,884,438,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LRCX shares. Cantor Fitzgerald reissued a "neutral" rating and issued a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Citigroup decreased their target price on Lam Research from $99.00 to $89.30 and set a "buy" rating for the company in a research report on Monday, September 16th. Stifel Nicolaus restated a "buy" rating and set a $100.00 price target (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. TD Cowen raised their price objective on Lam Research from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. Finally, BNP Paribas upgraded Lam Research to a "hold" rating in a research note on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $97.97.

Lam Research Stock Performance

NASDAQ LRCX traded up $1.07 on Tuesday, reaching $73.71. The stock had a trading volume of 16,714,213 shares, compared to its average volume of 11,264,133. 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 stock has a market cap of $94.84 billion, a P/E ratio of 23.85, a price-to-earnings-growth ratio of 1.15 and a beta of 1.48. The business's 50-day moving average price is $76.86 and its 200 day moving average price is $87.16. Lam Research Co. has a 12-month low of $68.72 and a 12-month high of $113.00.

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

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.25%. Lam Research's payout ratio is 29.77%.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the transaction, the chief accounting officer now directly owns 4,267 shares of the company's stock, valued at $3,488,315.17. The trade was a 13.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.29% of the stock is currently owned by insiders.

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.