Hollencrest Capital Management Trims Stake in Lam Research Co. (NASDAQ:LRCX)

Hollencrest Capital Management lessened its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 12.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,522 shares of the semiconductor company’s stock after selling 497 shares during the quarter. Hollencrest Capital Management’s holdings in Lam Research were worth $2,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Fortitude Family Office LLC lifted its holdings in Lam Research by 16.7% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock valued at $67,000 after purchasing an additional 9 shares in the last quarter. Thomasville National Bank boosted its holdings in Lam Research by 1.5% in the 2nd quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock worth $865,000 after buying an additional 12 shares during the period. Ignite Planners LLC increased its stake in Lam Research by 2.8% in the 2nd quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock worth $484,000 after buying an additional 12 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its holdings in Lam Research by 3.7% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock valued at $357,000 after acquiring an additional 12 shares during the period. Finally, RFP Financial Group LLC lifted its position 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 valued at $37,000 after acquiring an additional 12 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of Lam Research stock traded down $0.56 on Friday, hitting $78.65. 1,435,477 shares of the company were exchanged, compared to its average volume of 11,236,404. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average price of $77.73 and a 200 day moving average price of $88.66. Lam Research Co. has a 1-year low of $64.85 and a 1-year high of $113.00. The stock has a market capitalization of $101.20 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 1.18 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. The firm had revenue of $4.17 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.85 EPS. As a group, sell-side analysts predict that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.17%. Lam Research’s dividend payout ratio (DPR) is 29.74%.

Wall Street Analyst Weigh In

A number of research firms recently commented on LRCX. BNP Paribas raised Lam Research to a “hold” rating in a report on Thursday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Stifel Nicolaus reissued a “buy” rating and set a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a 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 reduced their target price on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a report on Monday, September 16th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $97.03.

Insider Activity at Lam Research

In other news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.29% of the stock is currently owned by corporate insiders.

Lam Research 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.