Lam Research Co. (NASDAQ:LRCX) Stock Holdings Reduced by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC lowered its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 55.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 309 shares of the semiconductor company’s stock after selling 382 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Lam Research were worth $252,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. CarsonAllaria Wealth Management Ltd. acquired a new stake in Lam Research in the 2nd quarter worth approximately $32,000. RFP Financial Group LLC lifted its stake in shares of Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after buying an additional 12 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Lam Research during the 2nd quarter worth $40,000. Country Trust Bank acquired a new stake in shares of Lam Research in the second quarter valued at about $43,000. Finally, MFA Wealth Advisors LLC acquired a new stake in Lam Research in the 2nd quarter valued at approximately $45,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Activity at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. This represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on LRCX shares. TD Cowen boosted their price objective 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. Wells Fargo & Company lowered their target price on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Mizuho lowered their target price on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Cantor Fitzgerald reissued a “neutral” rating and set a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Finally, Citigroup reduced their target price on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a report on Monday, September 16th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

Lam Research Stock Up 1.3 %

Shares of NASDAQ LRCX opened at $74.79 on Friday. The stock has a market capitalization of $96.23 billion, a P/E ratio of 24.17, a PEG ratio of 1.17 and a beta of 1.48. The stock’s fifty day moving average is $77.37 and its 200 day moving average is $88.21. Lam Research Co. has a 52 week low of $68.72 and a 52 week high of $113.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter last year, the business posted $6.85 EPS. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. Sell-side analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.74%.

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.