Natixis Advisors LLC Cuts Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Natixis Advisors LLC decreased its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 21.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,861 shares of the semiconductor company's stock after selling 16,039 shares during the period. Natixis Advisors LLC's holdings in Lam Research were worth $48,851,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Cornercap Investment Counsel Inc. boosted its holdings in Lam Research by 184.8% in the third quarter. Cornercap Investment Counsel Inc. now owns 1,777 shares of the semiconductor company's stock worth $1,450,000 after purchasing an additional 1,153 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Lam Research by 5.3% in the 3rd quarter. CIBC Asset Management Inc now owns 40,423 shares of the semiconductor company's stock worth $32,988,000 after purchasing an additional 2,051 shares in the last quarter. Lifeworks Advisors LLC raised its stake in shares of Lam Research by 23.5% in the third quarter. Lifeworks Advisors LLC now owns 1,838 shares of the semiconductor company's stock worth $1,500,000 after buying an additional 350 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in Lam Research by 5.7% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,646 shares of the semiconductor company's stock worth $2,975,000 after acquiring an additional 198 shares during the period. Finally, Huntington National Bank lifted its holdings in Lam Research by 2.8% during the third quarter. Huntington National Bank now owns 28,235 shares of the semiconductor company's stock valued at $23,042,000 after purchasing an additional 770 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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 approximately $3,488,315.17. This represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.29% of the company's stock.

Lam Research Stock Up 0.7 %

Shares of NASDAQ LRCX traded up $0.52 during trading hours on Monday, hitting $70.57. 11,514,882 shares of the stock were exchanged, compared to its average volume of 11,264,893. The firm has a fifty day moving average price of $77.23 and a 200-day moving average price of $87.95. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. Lam Research Co. has a 12 month low of $68.72 and a 12 month high of $113.00. The company has a market cap of $90.80 billion, a PE ratio of 22.76, a PEG ratio of 1.11 and a beta of 1.48.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company's quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter last year, the company earned $6.85 earnings per share. On average, sell-side analysts expect that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Dividend Announcement

The company also recently declared 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. 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 1.30%. Lam Research's dividend payout ratio is currently 29.74%.

Analyst Upgrades and Downgrades

LRCX has been the subject of several research analyst reports. Stifel Nicolaus reiterated a "buy" rating and set a $100.00 target price (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Cantor Fitzgerald reissued a "neutral" rating and issued a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. TD Cowen upped their price objective on Lam Research from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. Needham & Company LLC reiterated a "buy" rating and set a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Finally, Mizuho decreased their target price on Lam Research from $105.00 to $95.00 and set an "outperform" rating for the company in a research report on Friday, September 20th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company 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.