Stifel Financial Corp Sells 5,815 Shares of Lam Research Co. (NASDAQ:LRCX)

Stifel Financial Corp lessened its position in Lam Research Co. (NASDAQ:LRCX) by 8.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,960 shares of the semiconductor company’s stock after selling 5,815 shares during the quarter. Stifel Financial Corp’s holdings in Lam Research were worth $52,221,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in LRCX. CarsonAllaria Wealth Management Ltd. bought a new position in Lam Research in the second quarter valued at $32,000. RFP Financial Group LLC boosted its position in Lam Research by 52.2% during 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 period. Hobbs Group Advisors LLC purchased a new stake in Lam Research during the second quarter valued at about $40,000. Country Trust Bank purchased a new stake in Lam Research during the second quarter valued at about $43,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Lam Research during the second quarter valued at about $45,000. Institutional investors own 84.61% of the company’s stock.

Insider Transactions at Lam Research

In related news, CAO Christina Correia sold 647 shares of the business’s 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 completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Wells Fargo & Company cut their price target on shares of Lam Research from $85.00 to $83.00 and set an “equal weight” rating for the company in a research report on Friday. Morgan Stanley upped their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday. Citigroup cut their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research report on Monday, September 16th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and a consensus target price of $97.24.

Lam Research Stock Performance

Shares of LRCX opened at $76.59 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average price is $76.42 and its 200-day moving average price is $86.25. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The stock has a market cap of $98.55 billion, a P/E ratio of 24.75, a P/E/G ratio of 1.24 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 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 firm had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same period in the previous year, the firm posted $6.85 EPS. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. Equities research analysts anticipate 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. Stockholders of record on Wednesday, December 11th will be given a $0.23 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.20%. Lam Research’s dividend payout ratio is currently 29.74%.

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.