Lam Research Co. (NASDAQ:LRCX) Shares Sold by CFS Investment Advisory Services LLC

CFS Investment Advisory Services LLC reduced its stake in Lam Research Co. (NASDAQ:LRCX) by 44.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 402 shares of the semiconductor company’s stock after selling 328 shares during the quarter. CFS Investment Advisory Services LLC’s holdings in Lam Research were worth $328,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Raymond James Trust N.A. lifted its holdings in shares of Lam Research by 2.1% in the 3rd quarter. Raymond James Trust N.A. now owns 10,102 shares of the semiconductor company’s stock worth $8,244,000 after acquiring an additional 204 shares during the last quarter. Concorde Asset Management LLC acquired a new position in shares of Lam Research in the 3rd quarter worth approximately $242,000. Eagle Asset Management Inc. lifted its holdings in shares of Lam Research by 1,111.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 52,036 shares of the semiconductor company’s stock worth $42,466,000 after acquiring an additional 47,740 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Lam Research by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 822,599 shares of the semiconductor company’s stock worth $671,307,000 after acquiring an additional 10,868 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Lam Research by 9.2% in the 3rd quarter. Pacer Advisors Inc. now owns 24,366 shares of the semiconductor company’s stock worth $19,885,000 after acquiring an additional 2,062 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Lam Research news, CAO Christina Correia sold 647 shares of the firm’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 transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This trade represents a 13.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.29% of the stock is currently owned by insiders.

Lam Research Trading Down 0.7 %

NASDAQ LRCX opened at $72.64 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The firm’s fifty day moving average price is $76.93 and its 200 day moving average price is $87.35. The company has a market capitalization of $93.47 billion, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 1.16 and a beta of 1.48. Lam Research Co. has a 12 month low of $68.72 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The firm had revenue of $4.17 billion for 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%. The company’s revenue was up 19.7% on a year-over-year basis. During the same period last year, the firm posted $6.85 EPS. On average, sell-side analysts expect that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s payout ratio is currently 29.74%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Morgan Stanley reduced their target price on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Wells Fargo & Company reduced their target price on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reduced their target price 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. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $97.97.

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.