Mizuho Securities USA LLC Trims Stock Position in Lam Research Co. (NASDAQ:LRCX)

Mizuho Securities USA LLC cut its stake in Lam Research Co. (NASDAQ:LRCX) by 7.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,316 shares of the semiconductor company’s stock after selling 769 shares during the period. Mizuho Securities USA LLC’s holdings in Lam Research were worth $7,603,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on LRCX. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. UBS Group decreased their price objective on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Morgan Stanley dropped their target price on Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Finally, Mizuho cut their price target 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. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $97.03.

Lam Research Stock Down 6.3 %

LRCX opened at $70.05 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The company has a market cap of $90.13 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 1.11 and a beta of 1.48. Lam Research Co. has a one year low of $68.72 and a one year high of $113.00. The business’s fifty day moving average is $77.23 and its two-hundred day moving average is $87.96.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating 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 firm had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same period in the prior year, the company earned $6.85 EPS. The firm’s revenue was up 19.7% on a year-over-year basis. Analysts anticipate that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced 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 1.31%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

Insider Transactions at Lam Research

In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated 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 directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

About Lam Research

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.