Lam Research Co. (NASDAQ:LRCX) Stock Holdings Cut by McGuire Investment Group LLC

McGuire Investment Group LLC reduced its holdings in Lam Research Co. (NASDAQ:LRCX) by 1.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,451 shares of the semiconductor company’s stock after selling 537 shares during the period. Lam Research makes up 3.4% of McGuire Investment Group LLC’s portfolio, making the stock its 8th largest holding. McGuire Investment Group LLC’s holdings in Lam Research were worth $24,035,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in LRCX. Swedbank AB bought a new stake in Lam Research in the first quarter worth $192,668,000. Van ECK Associates Corp lifted its holdings in shares of Lam Research by 24.6% in the 1st quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company’s stock worth $940,592,000 after acquiring an additional 191,230 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Lam Research by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after purchasing an additional 144,914 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Lam Research by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after purchasing an additional 142,903 shares during the last quarter. Finally, Natixis grew its holdings in Lam Research by 1,267.1% during the 1st quarter. Natixis now owns 142,967 shares of the semiconductor company’s stock valued at $138,902,000 after purchasing an additional 132,509 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the sale, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is owned by company insiders.

Lam Research Stock Up 1.0 %

LRCX stock traded up $0.83 during trading on Friday, reaching $82.89. 6,530,339 shares of the company traded hands, compared to its average volume of 10,962,768. The company has a market capitalization of $10.84 billion, a price-to-earnings ratio of 3.05, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The business has a 50 day simple moving average of $94.96 and a 200 day simple moving average of $96.22. Lam Research Co. has a 12 month low of $57.44 and a 12 month high of $113.00.

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

Lam Research Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.23 per share. 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 3.38%.

Analyst Ratings Changes

LRCX has been the subject of several recent analyst reports. Wells Fargo & Company dropped their target price on Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a report on Friday. Morgan Stanley reduced their target price on Lam Research from $92.90 to $77.40 and set an “equal weight” rating on the stock in a research note on Tuesday, September 17th. Citigroup lowered their target price on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. Finally, UBS Group reduced their price target on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.28.

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.