MAI Capital Management Sells 3,057 Shares of Lam Research Co. (NASDAQ:LRCX)

MAI Capital Management lessened its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 33.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 6,101 shares of the semiconductor company’s stock after selling 3,057 shares during the period. MAI Capital Management’s holdings in Lam Research were worth $4,979,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Van ECK Associates Corp boosted its holdings 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 worth $13,123,440,000 after buying an additional 15,005,178 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 acquiring an additional 142,903 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Lam Research by 7.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock worth $1,335,522,000 after purchasing an additional 89,470 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Lam Research by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock valued at $654,009,000 after purchasing an additional 25,362 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in Lam Research by 2.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 420,117 shares of the semiconductor company’s stock worth $447,362,000 after purchasing an additional 8,295 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

LRCX stock opened at $70.17 on Wednesday. Lam Research Co. has a twelve month low of $68.72 and a twelve month high of $113.00. The firm has a market cap of $90.29 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 1.11 and a beta of 1.48. The business’s fifty day simple moving average is $77.10 and its two-hundred day simple moving average is $87.70. The company has a quick ratio of 1.74, a current ratio of 2.53 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The company had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter last year, the business posted $6.85 EPS. Analysts predict that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.31%. Lam Research’s payout ratio is currently 29.74%.

Insider Buying and Selling at Lam Research

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Wells Fargo & Company decreased their price target on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $100.00 target price (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft dropped their price target on Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Finally, Morgan Stanley reduced their price objective on Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $97.03.

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.