Lam Research Co. (NASDAQ:LRCX) Shares Sold by KBC Group NV

KBC Group NV cut its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 20.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 136,467 shares of the semiconductor company's stock after selling 36,158 shares during the period. KBC Group NV's holdings in Lam Research were worth $111,368,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. grew its position in Lam Research by 11.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 2,315 shares of the semiconductor company's stock valued at $2,249,000 after buying an additional 239 shares during the last quarter. HBK Sorce Advisory LLC boosted its holdings in shares of Lam Research by 79.5% in the first quarter. HBK Sorce Advisory LLC now owns 666 shares of the semiconductor company's stock valued at $647,000 after acquiring an additional 295 shares in the last quarter. Blair William & Co. IL increased its stake in shares of Lam Research by 5.9% during the first quarter. Blair William & Co. IL now owns 5,329 shares of the semiconductor company's stock worth $5,177,000 after acquiring an additional 297 shares during the period. Dorsey & Whitney Trust CO LLC raised its holdings in Lam Research by 1.9% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,115 shares of the semiconductor company's stock worth $1,083,000 after purchasing an additional 21 shares in the last quarter. Finally, Twin Tree Management LP lifted its position in Lam Research by 75.3% in the first quarter. Twin Tree Management LP now owns 15,914 shares of the semiconductor company's stock valued at $15,462,000 after purchasing an additional 6,838 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Christina Correia sold 647 shares of the firm'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 sale, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on LRCX. Needham & Company LLC reiterated a "buy" rating and set a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Stifel Nicolaus reiterated a "buy" rating and issued a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Cantor Fitzgerald reissued a "neutral" rating and issued a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Mizuho lowered their price target on shares of Lam Research from $105.00 to $95.00 and set an "outperform" rating on the stock in a research note on Friday, September 20th. Finally, BNP Paribas upgraded shares of Lam Research to a "hold" rating in a research note on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $97.03.

Lam Research Price Performance

Lam Research stock traded up $1.32 during mid-day trading on Thursday, hitting $75.17. 5,324,208 shares of the company were exchanged, compared to its average volume of 11,226,649. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. Lam Research Co. has a 12-month low of $68.72 and a 12-month high of $113.00. The business's 50 day simple moving average is $77.37 and its two-hundred day simple moving average is $88.21. The company has a market capitalization of $96.72 billion, a P/E ratio of 24.32, a PEG ratio of 1.20 and a beta of 1.48.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating the consensus estimate 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 in the previous year, the company posted $6.85 EPS. The firm's revenue for the quarter was up 19.7% on a year-over-year basis. Analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be given a dividend of $0.23 per share. 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 1.22%. Lam Research's dividend payout ratio (DPR) 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.