Lam Research Co. (NASDAQ:LRCX) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 27.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 25,977 shares of the semiconductor company's stock after selling 9,678 shares during the period. Thrivent Financial for Lutherans' holdings in Lam Research were worth $21,199,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Claro Advisors LLC increased its holdings in Lam Research by 151.0% in the 3rd quarter. Claro Advisors LLC now owns 527 shares of the semiconductor company's stock valued at $430,000 after acquiring an additional 317 shares during the last quarter. Seizert Capital Partners LLC boosted its stake in Lam Research by 42.0% during the third quarter. Seizert Capital Partners LLC now owns 9,647 shares of the semiconductor company's stock valued at $7,873,000 after buying an additional 2,852 shares during the last quarter. Turtle Creek Wealth Advisors LLC raised its position in shares of Lam Research by 1.9% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 7,788 shares of the semiconductor company's stock valued at $6,356,000 after buying an additional 147 shares in the last quarter. Cornercap Investment Counsel Inc. boosted its stake in Lam Research by 184.8% during the third quarter. Cornercap Investment Counsel Inc. now owns 1,777 shares of the semiconductor company's stock worth $1,450,000 after buying an additional 1,153 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in shares of Lam Research by 5.3% during the 3rd quarter. CIBC Asset Management Inc now owns 40,423 shares of the semiconductor company's stock worth $32,988,000 after acquiring an additional 2,051 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research Stock Performance

NASDAQ:LRCX traded down $0.12 on Wednesday, reaching $70.05. 7,674,360 shares of the company's stock were exchanged, compared to its average volume of 11,222,560. The stock has a fifty day simple moving average of $77.10 and a 200-day simple moving average of $87.70. The firm has a market cap of $90.13 billion, a price-to-earnings ratio of 22.68, a P/E/G ratio of 1.11 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. Lam Research Co. has a 52 week low of $68.72 and a 52 week high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company had revenue of $4.17 billion for the quarter, compared to analysts' expectations of $4.06 billion. During the same period last year, the firm posted $6.85 EPS. Lam Research's revenue for the quarter was up 19.7% compared to the same quarter last year. As a group, sell-side analysts predict that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.31%. Lam Research's payout ratio is 29.74%.

Insider Activity

In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Tuesday, October 1st. The stock was 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 $3,488,315.17. The trade was a 13.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LRCX. Stifel Nicolaus reiterated a "buy" rating and issued a $100.00 price target (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. 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 research note on Thursday, September 12th. StockNews.com downgraded Lam Research from a "buy" rating to a "hold" rating in a research report on Friday, October 11th. Wells Fargo & Company cut their price objective on shares of Lam Research from $88.00 to $85.00 and set an "equal weight" rating for the company in a report on Thursday, October 24th. Finally, TD Cowen boosted their price target on shares of Lam Research from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. 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 price target of $97.03.

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.