Lam Research Co. (NASDAQ:LRCX) Stock Holdings Lessened by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ decreased its position in Lam Research Co. (NASDAQ:LRCX) by 11.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,524 shares of the semiconductor company’s stock after selling 469 shares during the quarter. Lam Research makes up 4.0% of Groesbeck Investment Management Corp NJ’s investment portfolio, making the stock its 6th largest position. Groesbeck Investment Management Corp NJ’s holdings in Lam Research were worth $2,876,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of LRCX. Vest Financial LLC boosted its stake in shares of Lam Research by 68.7% during the 3rd quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock valued at $29,372,000 after purchasing an additional 14,658 shares in the last quarter. Creative Planning increased its holdings in Lam Research by 2.5% during the third 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 during the last quarter. Symmetry Investments LP purchased a new stake in Lam Research during the second quarter valued at approximately $3,229,000. Benson Investment Management Company Inc. purchased a new stake in Lam Research during the third quarter valued at approximately $5,182,000. Finally, Vontobel Holding Ltd. boosted its position in shares of Lam Research by 38.4% in the third quarter. Vontobel Holding Ltd. now owns 120,736 shares of the semiconductor company’s stock worth $98,530,000 after purchasing an additional 33,489 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on LRCX. B. Riley dropped their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday. TD Cowen lifted their price target on shares of Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday. Finally, Morgan Stanley dropped their target price on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $97.03.

Lam Research Stock Performance

NASDAQ:LRCX traded up $1.11 during midday trading on Friday, reaching $77.68. The stock had a trading volume of 14,591,080 shares, compared to its average volume of 11,291,600. The firm has a fifty day simple moving average of $79.44 and a two-hundred day simple moving average of $89.84. Lam Research Co. has a 12-month low of $57.44 and a 12-month high of $113.00. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The stock has a market cap of $100.68 billion, a P/E ratio of 26.79, a P/E/G ratio of 1.89 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the previous year, the company posted $6.85 EPS. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. On average, equities analysts expect that Lam Research Co. will post 3.23 EPS for the current year.

Lam Research Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Tuesday, September 17th. Lam Research’s dividend payout ratio is presently 31.72%.

Insiders Place Their Bets

In other 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 transaction of $528,928.97. Following the completion of the transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is owned by company insiders.

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.