Redwood Investment Management LLC Decreases Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Redwood Investment Management LLC lessened its stake in Lam Research Co. (NASDAQ:LRCX) by 12.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,341 shares of the semiconductor company’s stock after selling 189 shares during the quarter. Redwood Investment Management LLC’s holdings in Lam Research were worth $1,109,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Lam Research during the 2nd quarter valued at $32,000. RFP Financial Group LLC raised its stake in Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in Lam Research in the second quarter worth about $40,000. Country Trust Bank acquired a new position in shares of Lam Research during the second quarter valued at about $43,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of Lam Research in the 2nd quarter valued at approximately $45,000. 84.61% of the stock is currently owned by institutional investors.

Lam Research Trading Up 1.8 %

Shares of Lam Research stock opened at $76.59 on Friday. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. 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 $98.55 billion, a P/E ratio of 24.79, a price-to-earnings-growth ratio of 1.25 and a beta of 1.46. The firm has a 50-day simple moving average of $76.42 and a two-hundred day simple moving average of $86.25.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (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 company had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the prior year, the business posted $6.85 earnings per share. Lam Research’s revenue for the quarter was up 19.7% on a year-over-year basis. As a group, equities analysts predict that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s payout ratio is presently 29.77%.

Insiders Place Their Bets

In other Lam Research news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction that occurred 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 directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. The trade was a 13.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LRCX. Citigroup dropped 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 report on Monday, September 16th. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 target price (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Morgan Stanley lifted their price target on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday. Mizuho reduced their price objective 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. Finally, StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $97.24.

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.