Empowered Funds LLC Sells 142 Shares of Lam Research Co. (NASDAQ:LRCX)

Empowered Funds LLC cut its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,675 shares of the semiconductor company’s stock after selling 142 shares during the period. Empowered Funds LLC’s holdings in Lam Research were worth $11,160,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LRCX. Van ECK Associates Corp lifted its position in Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after acquiring an additional 15,005,178 shares in the last quarter. Foster Victor Wealth Advisors LLC boosted its holdings in Lam Research by 994.1% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company’s stock valued at $190,066,000 after purchasing an additional 211,614 shares during the period. Swedbank AB bought a new stake in shares of Lam Research during the 1st quarter worth $192,668,000. Vanguard Group Inc. lifted its stake in Lam Research by 1.2% in the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after purchasing an additional 144,914 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Lam Research by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after purchasing an additional 142,903 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Insider Transactions at Lam Research

In other news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.29% of the stock is owned by insiders.

Lam Research Stock Performance

LRCX traded down $2.53 during trading on Friday, reaching $72.26. 888,784 shares of the company were exchanged, compared to its average volume of 11,202,118. Lam Research Co. has a 52 week low of $68.72 and a 52 week high of $113.00. The stock has a market cap of $92.98 billion, a P/E ratio of 24.17, a PEG ratio of 1.17 and a beta of 1.48. The firm has a 50 day moving average of $77.37 and a 200 day moving average of $88.21. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping 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 firm had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same period last year, the company posted $6.85 EPS. The business’s quarterly revenue was up 19.7% compared to the same quarter last year. On average, sell-side analysts forecast that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed 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. This represents a $0.92 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s payout ratio is presently 29.74%.

Analyst Upgrades and Downgrades

LRCX has been the topic of several research analyst reports. UBS Group reduced their price target on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. 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. Finally, B. Riley dropped their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.