Lam Research Co. (NASDAQ:LRCX) Stake Lessened by Neville Rodie & Shaw Inc.

Neville Rodie & Shaw Inc. trimmed its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 2.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,443 shares of the semiconductor company's stock after selling 844 shares during the quarter. Lam Research comprises about 2.1% of Neville Rodie & Shaw Inc.'s investment portfolio, making the stock its 10th biggest position. Neville Rodie & Shaw Inc.'s holdings in Lam Research were worth $28,924,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Lam Research during the second quarter valued at approximately $32,000. RFP Financial Group LLC boosted its position in shares of Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company's stock valued at $37,000 after buying an additional 12 shares during the period. Raleigh Capital Management Inc. boosted its position in shares of Lam Research by 78.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company's stock valued at $39,000 after buying an additional 22 shares during the period. Hobbs Group Advisors LLC purchased a new position in shares of Lam Research during the second quarter valued at approximately $40,000. Finally, Country Trust Bank purchased a new position in shares of Lam Research during the second quarter valued at approximately $43,000. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Down 0.4 %

Shares of LRCX stock traded down $0.30 during trading hours on Thursday, reaching $81.11. 6,346,355 shares of the company's stock were exchanged, compared to its average volume of 11,070,547. The stock's 50 day moving average is $95.60 and its 200-day moving average is $96.91. The company has a market cap of $10.60 billion, a price-to-earnings ratio of 2.97, a P/E/G ratio of 1.51 and a beta of 1.48. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. Lam Research Co. has a fifty-two week low of $57.44 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.05. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business's quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 earnings per share. Analysts predict that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research's dividend payout ratio (DPR) is presently 33.84%.

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 sale, the chief accounting officer now directly owns 4,267 shares of the company's stock, valued at $3,488,315.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Lam Research news, CAO Christina Correia sold 647 shares of the company's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the sale, the chief accounting officer now directly owns 4,267 shares of the company's stock, valued at $3,488,315.17. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Neil J. Fernandes sold 16,200 shares of the company's stock in a transaction on Friday, July 12th. The shares were sold at an average price of $105.70, for a total transaction of $1,712,323.80. Following the completion of the sale, the senior vice president now directly owns 52,370 shares in the company, valued at $5,535,456.63. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company's stock.

Wall Street Analyst Weigh In

LRCX has been the subject of several recent analyst reports. Wells Fargo & Company dropped their target price on Lam Research from $1,000.00 to $880.00 and set an "equal weight" rating for the company in a research report on Thursday. Barclays lifted their price target on shares of Lam Research from $86.50 to $90.00 and gave the company an "equal weight" rating in a research note on Wednesday, June 5th. Morgan Stanley decreased their price target on shares of Lam Research from $92.90 to $77.40 and set an "equal weight" rating for the company in a research note on Tuesday, September 17th. Citigroup decreased their price target on shares of Lam Research from $99.00 to $89.30 and set a "buy" rating for the company in a research note on Monday, September 16th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $113.00 price target on shares of Lam Research in a research note on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $141.28.

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.