Los Angeles Capital Management LLC Sells 10,159 Shares of Lam Research Co. (NASDAQ:LRCX)

Los Angeles Capital Management LLC reduced its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 8.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 103,715 shares of the semiconductor company's stock after selling 10,159 shares during the quarter. Los Angeles Capital Management LLC's holdings in Lam Research were worth $84,640,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of LRCX. Van ECK Associates Corp raised its holdings in shares of 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 valued at $13,123,440,000 after acquiring an additional 15,005,178 shares in the last quarter. Foster Victor Wealth Advisors LLC increased its position in shares of Lam Research by 994.1% in the third 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. Swedbank AB purchased a new stake in Lam Research in the first quarter valued at approximately $192,668,000. Vanguard Group Inc. raised its stake in Lam Research by 1.2% in the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company's stock valued at $11,519,576,000 after purchasing an additional 144,914 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Lam Research by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company's stock valued at $2,875,023,000 after purchasing an additional 142,903 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Cantor Fitzgerald reissued a "neutral" rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. TD Cowen increased their target price on Lam Research from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Wells Fargo & Company dropped their price target on Lam Research from $88.00 to $85.00 and set an "equal weight" rating for the company in a research note on Thursday, October 24th. Mizuho cut their price objective 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, Stifel Nicolaus reissued a "buy" rating and set a $100.00 price objective (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $97.03.

Lam Research Trading Down 1.3 %

Shares of Lam Research stock traded down $1.01 during trading on Friday, reaching $78.20. 7,527,071 shares of the stock were exchanged, compared to its average volume of 14,186,518. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The firm has a market cap of $100.62 billion, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 1.24 and a beta of 1.48. Lam Research Co. has a 1 year low of $64.85 and a 1 year high of $113.00. The stock's fifty day moving average is $77.67 and its 200 day moving average is $88.53.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share 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 business had revenue of $4.17 billion during the quarter, compared to analysts' expectations of $4.06 billion. During the same quarter last year, the business posted $6.85 EPS. The business's revenue was up 19.7% on a year-over-year basis. As a group, equities research analysts expect that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research's payout ratio is currently 29.74%.

Insiders Place Their Bets

In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Tuesday, October 1st. The shares were 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 of the company's stock, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.29% of the company's stock.

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.