ING Groep NV Sells 44,145 Shares of Lam Research Co. (NASDAQ:LRCX)

ING Groep NV lessened its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 40.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 64,104 shares of the semiconductor company's stock after selling 44,145 shares during the period. ING Groep NV's holdings in Lam Research were worth $52,314,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in LRCX. Van ECK Associates Corp raised its stake in Lam Research by 1,394.7% during 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 acquiring an additional 15,005,178 shares during the period. Foster Victor Wealth Advisors LLC raised its stake in Lam Research by 994.1% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company's stock worth $190,066,000 after acquiring an additional 211,614 shares during the period. Swedbank AB bought a new stake in Lam Research during the 1st quarter worth approximately $192,668,000. Vanguard Group Inc. raised its stake in Lam Research by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company's stock worth $11,519,576,000 after acquiring an additional 144,914 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Lam Research by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company's stock worth $2,875,023,000 after acquiring an additional 142,903 shares during the period. Institutional investors own 84.61% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on LRCX shares. Needham & Company LLC restated a "buy" rating and set a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Stifel Nicolaus reiterated a "buy" rating and set a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. StockNews.com cut shares of Lam Research from a "buy" rating to a "hold" rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Lam Research from $110.00 to $95.00 and set a "buy" rating on the stock in a research report on Thursday, August 1st. Finally, Morgan Stanley reduced 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. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Lam Research currently has an average rating of "Moderate Buy" and a consensus target price of $97.03.

Insider Activity

In other news, CAO Christina Correia sold 647 shares of the business's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now directly owns 4,267 shares of the company's stock, valued at approximately $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.29% of the company's stock.

Lam Research Trading Up 1.3 %

NASDAQ LRCX traded up $0.94 on Thursday, hitting $74.79. 9,955,459 shares of the stock were exchanged, compared to its average volume of 11,248,548. 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 fifty day moving average price of $77.37 and a two-hundred day moving average price of $88.21. The firm has a market capitalization of $96.23 billion, a P/E ratio of 24.32, a P/E/G ratio of 1.20 and a beta of 1.48. 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 posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. The company had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. Lam Research's quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.85 earnings per share. Research analysts forecast that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Wednesday, December 11th. Lam Research's dividend 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.