Lam Research Co. (NASDAQ:LRCX) Shares Sold by Guinness Asset Management LTD

Guinness Asset Management LTD cut its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 11.9% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 39,207 shares of the semiconductor company’s stock after selling 5,284 shares during the period. Guinness Asset Management LTD’s holdings in Lam Research were worth $32,001,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Symmetry Investments LP purchased a new position in shares of Lam Research in the second quarter valued at $3,229,000. Brown Financial Advisors acquired a new stake in shares of Lam Research during the second quarter valued at about $1,489,000. Wedmont Private Capital increased its position in shares of Lam Research by 893.3% during the third quarter. Wedmont Private Capital now owns 14,522 shares of the semiconductor company’s stock worth $11,851,000 after acquiring an additional 13,060 shares during the last quarter. 3Chopt Investment Partners LLC acquired a new position in shares of Lam Research in the second quarter worth about $1,105,000. Finally, Cypress Capital Group boosted its holdings in Lam Research by 23.1% in the second quarter. Cypress Capital Group now owns 3,528 shares of the semiconductor company’s stock valued at $3,757,000 after purchasing an additional 661 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of Lam Research stock traded up $0.83 on Friday, hitting $82.89. The company had a trading volume of 6,530,339 shares, compared to its average volume of 10,962,768. Lam Research Co. has a 52 week low of $57.44 and a 52 week high of $113.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. The company has a market cap of $10.84 billion, a PE ratio of 3.05, a PEG ratio of 1.75 and a beta of 1.47. The business has a 50-day simple moving average of $94.96 and a 200-day simple moving average of $96.23.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.05. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The company had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same period last year, the firm earned $0.60 EPS. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. Research analysts expect that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were issued a $0.23 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.11%. Lam Research’s payout ratio is currently 3.38%.

Analyst Ratings Changes

A number of brokerages have issued reports on LRCX. B. Riley upped their target price on Lam Research from $113.00 to $132.50 and gave the company a “buy” rating in a research report on Thursday, June 20th. Deutsche Bank Aktiengesellschaft reduced their price objective 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. Citigroup cut their target price on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research note on Monday, September 16th. UBS Group decreased their price target on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Finally, Needham & Company LLC restated a “buy” rating and set a $113.00 price objective on shares of Lam Research in a research note on Thursday, August 1st. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $141.28.

Insider Activity at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.32% of the company’s stock.

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.