Mizuho Securities USA LLC Trims Stock Position in Lam Research Co. (NASDAQ:LRCX)

Mizuho Securities USA LLC decreased its holdings in Lam Research Co. (NASDAQ:LRCX) by 7.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 9,316 shares of the semiconductor company’s stock after selling 769 shares during the period. Mizuho Securities USA LLC’s holdings in Lam Research were worth $7,603,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of LRCX. Van ECK Associates Corp increased its position in Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after purchasing an additional 15,005,178 shares during the last quarter. Foster Victor Wealth Advisors LLC increased its holdings in shares of Lam Research by 994.1% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company’s stock worth $190,066,000 after buying an additional 211,614 shares during the last quarter. Swedbank AB purchased a new position in shares of Lam Research in the 1st quarter worth $192,668,000. Price T Rowe Associates Inc. MD boosted its holdings in Lam Research by 5.1% in the first 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 acquiring an additional 142,903 shares during the last quarter. Finally, Natixis boosted its holdings in Lam Research by 1,267.1% in the first quarter. Natixis now owns 142,967 shares of the semiconductor company’s stock valued at $138,902,000 after acquiring an additional 132,509 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analysts Set New Price Targets

LRCX has been the topic of a number of research reports. TD Cowen raised their price objective on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Citigroup cut their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a report on Monday, September 16th. Morgan Stanley decreased their price objective on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. B. Riley reduced their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $100.00 price target (down from $105.00) 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 fourteen have issued a buy rating to the company. Based on data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average price target of $97.03.

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 stock was 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 in the company, valued at approximately $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.29% of the stock is currently owned by corporate insiders.

Lam Research Trading Down 6.3 %

Shares of NASDAQ LRCX opened at $70.05 on Friday. The stock has a market capitalization of $90.13 billion, a P/E ratio of 22.64, a PEG ratio of 1.11 and a beta of 1.48. The stock’s 50 day moving average price is $77.23 and its two-hundred day moving average price is $87.96. 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.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period last year, the business posted $6.85 earnings per share. On average, analysts anticipate that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors 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 annualized dividend and a yield of 1.31%. Lam Research’s dividend payout ratio (DPR) is 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.