Lam Research Co. (NASDAQ:LRCX) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 21.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 137,673 shares of the semiconductor company's stock after selling 38,591 shares during the quarter. Victory Capital Management Inc.'s holdings in Lam Research were worth $112,352,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of LRCX. Creative Planning raised its position in Lam Research by 2.5% during the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company's stock worth $38,664,000 after acquiring an additional 1,146 shares during the last quarter. Vest Financial LLC lifted its stake in Lam Research by 68.7% in the 3rd quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company's stock valued at $29,372,000 after buying an additional 14,658 shares in the last quarter. Benson Investment Management Company Inc. acquired a new stake in Lam Research during the 3rd quarter valued at $5,182,000. Symmetry Investments LP purchased a new position in Lam Research during the second quarter worth $3,229,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Lam Research by 9.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company's stock worth $278,165,000 after acquiring an additional 28,089 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Insider Buying and Selling

In other Lam Research 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 completion of the sale, the chief accounting officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is currently owned by company insiders.

Lam Research Stock Down 2.4 %

NASDAQ:LRCX traded down $1.85 on Wednesday, reaching $73.85. The stock had a trading volume of 11,613,644 shares, compared to its average volume of 11,254,459. The stock has a market cap of $95.02 billion, a P/E ratio of 23.90, a price-to-earnings-growth ratio of 1.20 and a beta of 1.48. Lam Research Co. has a 12-month low of $68.39 and a 12-month high of $113.00. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average of $77.42 and a 200 day moving average of $88.34.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the previous year, the firm earned $6.85 earnings per share. The business's revenue was up 19.7% compared to the same quarter last year. On average, research analysts predict that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.25%. Lam Research's dividend payout ratio (DPR) is 29.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. BNP Paribas raised shares of Lam Research to a "hold" rating in a research report on Thursday, October 24th. UBS Group reduced their price target on Lam Research from $125.00 to $115.00 and set a "buy" rating on the stock in a research note on Thursday, September 12th. Needham & Company LLC reaffirmed a "buy" rating and issued a $100.00 price objective on shares of Lam Research in a research report on Thursday, October 24th. StockNews.com downgraded Lam Research from a "buy" rating to a "hold" rating in a research report on Friday, October 11th. Finally, Citigroup lowered their price target on Lam Research from $99.00 to $89.30 and set a "buy" rating for the company in a report on Monday, September 16th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus 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.