Lam Research Co. (NASDAQ:LRCX) Position Lessened by Moran Wealth Management LLC

Moran Wealth Management LLC decreased its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 67.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,325 shares of the semiconductor company's stock after selling 8,891 shares during the period. Moran Wealth Management LLC's holdings in Lam Research were worth $3,530,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Lam Research during the 2nd quarter worth approximately $32,000. RFP Financial Group LLC lifted its holdings in Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company's stock valued at $37,000 after acquiring an additional 12 shares during the period. Hobbs Group Advisors LLC purchased a new position in shares of Lam Research in the 2nd quarter valued at about $40,000. Country Trust Bank acquired a new stake in shares of Lam Research in the second quarter valued at about $43,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Lam Research during the second quarter worth about $45,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred 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 directly owns 4,267 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.29% of the company's stock.

Lam Research Trading Up 3.6 %

Shares of LRCX traded up $2.49 during mid-day trading on Thursday, reaching $72.54. The company had a trading volume of 3,965,495 shares, compared to its average volume of 11,203,571. Lam Research Co. has a fifty-two week low of $68.72 and a fifty-two week high of $113.00. The firm has a fifty day simple moving average of $77.04 and a 200-day simple moving average of $87.56. The stock has a market cap of $93.34 billion, a price-to-earnings ratio of 22.64, a price-to-earnings-growth ratio of 1.12 and a beta of 1.48. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly 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. The company had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The firm's revenue was up 19.7% on a year-over-year basis. During the same period in the prior year, the firm posted $6.85 earnings per share. On average, sell-side analysts anticipate that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently declared 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 1.27%. Lam Research's dividend payout ratio (DPR) is 29.74%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. TD Cowen increased their target price on shares of Lam Research from $100.00 to $105.00 and gave the company a "buy" rating in a report on Thursday, August 1st. UBS Group reduced their price objective on Lam Research from $125.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, September 12th. Needham & Company LLC reissued a "buy" rating and issued a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Citigroup dropped their price target 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. Finally, B. Riley decreased their price objective on shares of Lam Research from $132.50 to $105.00 and set a "buy" rating on the stock in a research report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Lam Research currently has an average rating of "Moderate Buy" and a consensus target price of $97.03.

Lam Research Company 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.