First Financial Bankshares Inc Lowers Stock Position in Lam Research Co. (NASDAQ:LRCX)

First Financial Bankshares Inc decreased its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 75.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,536 shares of the semiconductor company's stock after selling 10,996 shares during the quarter. First Financial Bankshares Inc's holdings in Lam Research were worth $2,886,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LRCX. Creative Planning lifted its stake in shares of Lam Research by 2.5% during the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company's stock valued at $38,664,000 after buying an additional 1,146 shares in the last quarter. Vest Financial LLC lifted its position in shares of Lam Research by 68.7% in the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company's stock valued at $29,372,000 after acquiring an additional 14,658 shares in the last quarter. Symmetry Investments LP bought a new position in shares of Lam Research in the second quarter worth about $3,229,000. Benson Investment Management Company Inc. purchased a new stake in shares of Lam Research during the third quarter worth about $5,182,000. Finally, Vontobel Holding Ltd. raised its stake in Lam Research by 38.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 120,736 shares of the semiconductor company's stock valued at $98,530,000 after purchasing an additional 33,489 shares during the period. Institutional investors own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LRCX. UBS Group dropped their price target on Lam Research from $125.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, September 12th. Mizuho cut their target price on shares of Lam Research from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Friday, September 20th. B. Riley decreased their price target on shares of Lam Research from $132.50 to $105.00 and set a "buy" rating on the stock in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Lam Research from $110.00 to $95.00 and set a "buy" rating for the company in a report on Thursday, August 1st. Finally, Citigroup decreased their target price on Lam Research from $99.00 to $89.30 and set a "buy" rating on the stock in a research report on Monday, September 16th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Lam Research presently has an average rating of "Moderate Buy" and an average price target of $97.03.

Lam Research Trading Down 2.9 %

NASDAQ LRCX traded down $2.23 during trading on Monday, hitting $75.45. The stock had a trading volume of 10,166,805 shares, compared to its average volume of 11,286,229. Lam Research Co. has a one year low of $57.44 and a one year high of $113.00. The stock has a 50 day simple moving average of $78.98 and a 200 day simple moving average of $89.51. The stock has a market capitalization of $9.86 billion, a price-to-earnings ratio of 2.77, a P/E/G ratio of 1.89 and a beta of 1.47. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The company had revenue of $4.17 billion during the quarter, compared to analysts' expectations of $4.06 billion. During the same quarter in the previous year, the business earned $6.85 EPS. Lam Research's revenue was up 19.7% compared to the same quarter last year. Sell-side analysts predict that Lam Research Co. will post 3.23 earnings per share for the current year.

Lam Research Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.22%. Lam Research's payout ratio is 3.38%.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of the firm's stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 4,267 shares of the company's stock, valued at approximately $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.32% of the stock is owned by corporate insiders.

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.