Braun Stacey Associates Inc. Sells 3,587 Shares of Lam Research Co. (NASDAQ:LRCX)

Braun Stacey Associates Inc. trimmed its position in shares of Lam Research Co. (NASDAQ:LRCX) by 9.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 32,630 shares of the semiconductor company’s stock after selling 3,587 shares during the quarter. Braun Stacey Associates Inc.’s holdings in Lam Research were worth $26,629,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Glass Wealth Management Co LLC grew its holdings in shares of Lam Research by 9.2% during the third quarter. Glass Wealth Management Co LLC now owns 2,485 shares of the semiconductor company’s stock valued at $2,028,000 after buying an additional 210 shares during the last quarter. Westfuller Advisors LLC purchased a new stake in shares of Lam Research during the third quarter valued at approximately $764,000. Claro Advisors LLC grew its holdings in shares of Lam Research by 151.0% during the third quarter. Claro Advisors LLC now owns 527 shares of the semiconductor company’s stock valued at $430,000 after buying an additional 317 shares during the last quarter. Seizert Capital Partners LLC grew its holdings in shares of Lam Research by 42.0% during the third quarter. Seizert Capital Partners LLC now owns 9,647 shares of the semiconductor company’s stock valued at $7,873,000 after buying an additional 2,852 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC grew its holdings in shares of Lam Research by 1.9% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 7,788 shares of the semiconductor company’s stock valued at $6,356,000 after buying an additional 147 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

LRCX has been the topic of several research reports. Stifel Nicolaus restated a “buy” rating and issued a $100.00 target price (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Citigroup decreased their price objective on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Cantor Fitzgerald reissued a “neutral” rating and issued a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Finally, BNP Paribas raised shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $97.03.

Insider Transactions at Lam Research

In related news, CAO Christina Correia sold 647 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the sale, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This represents a 13.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Lam Research Trading Down 6.3 %

NASDAQ LRCX opened at $70.05 on Monday. 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 Co. has a 52 week low of $68.72 and a 52 week high of $113.00. The stock has a market capitalization of $90.13 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 1.11 and a beta of 1.48. The firm has a 50 day moving average of $77.23 and a two-hundred day moving average of $87.95.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. The firm had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. Lam Research’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.85 EPS. As a group, research analysts expect that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.31%. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

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.