Lam Research Co. (NASDAQ:LRCX) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund decreased its holdings in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 80.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,019 shares of the semiconductor company's stock after selling 50,786 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund's holdings in Lam Research were worth $12,798,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Lam Research during the 2nd quarter worth about $32,000. RFP Financial Group LLC grew its stake in shares of Lam Research by 52.2% during the 2nd 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. raised its position in shares of Lam Research by 78.6% in the 4th quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company's stock worth $39,000 after buying an additional 22 shares during the period. Hobbs Group Advisors LLC acquired a new position in Lam Research in the second quarter valued at $40,000. Finally, Country Trust Bank purchased a new stake in Lam Research during the second quarter valued at about $43,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lam Research

In other 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related 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 directly owns 4,267 shares in the company, valued at $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Neil J. Fernandes sold 16,200 shares of the firm's stock in a transaction dated 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 transaction, the senior vice president now directly owns 52,370 shares in the company, valued at approximately $5,535,456.63. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.

Lam Research Stock Performance

Shares of LRCX stock traded up $0.24 on Friday, hitting $81.35. 4,341,234 shares of the stock traded hands, compared to its average volume of 11,036,408. The company's fifty day moving average is $95.45 and its 200 day moving average is $96.80. Lam Research Co. has a 1-year low of $57.44 and a 1-year high of $113.00. The company has a market capitalization of $10.64 billion, a PE ratio of 3.00, a PEG ratio of 1.51 and a beta of 1.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.76 by $0.05. The business had revenue of $3.87 billion during 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 company's quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 EPS. On average, equities research 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 announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research's dividend payout ratio is presently 33.84%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Raymond James lifted their price objective on Lam Research from $95.00 to $106.00 and gave the company an "outperform" rating in a research note on Friday, June 7th. Morgan Stanley decreased their price objective 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. StockNews.com raised shares of Lam Research from a "hold" rating to a "buy" rating in a research note on Thursday. TD Cowen boosted their price objective on Lam Research from $100.00 to $105.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $113.00 target price on shares of Lam Research in a research note on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Lam Research currently has an average rating of "Moderate Buy" and a consensus price target 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.