MAI Capital Management Lowers Stake in Lam Research Co. (NASDAQ:LRCX)

MAI Capital Management cut its stake in Lam Research Co. (NASDAQ:LRCX) by 33.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,101 shares of the semiconductor company’s stock after selling 3,057 shares during the quarter. MAI Capital Management’s holdings in Lam Research were worth $4,979,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Van ECK Associates Corp grew its holdings in Lam Research by 1,394.7% in 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 position in 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 valued at $190,066,000 after buying an additional 211,614 shares in the last quarter. Swedbank AB purchased a new stake in Lam Research in the first quarter valued at about $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 worth $2,875,023,000 after acquiring an additional 142,903 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its holdings in shares of Lam Research by 208.2% during the second quarter. Panagora Asset Management Inc. now owns 175,616 shares of the semiconductor company’s stock valued at $187,005,000 after acquiring an additional 118,634 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Down 0.6 %

Shares of LRCX opened at $70.17 on Wednesday. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The firm has a market cap of $90.29 billion, a P/E ratio of 22.68, a PEG ratio of 1.11 and a beta of 1.48. The stock’s 50 day moving average is $77.10 and its two-hundred day moving average is $87.70. Lam Research Co. has a 12 month low of $68.72 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to analyst estimates 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 for the quarter was up 19.7% compared to the same quarter last year. During the same quarter last year, the business earned $6.85 earnings per share. Analysts predict that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is 29.74%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Cantor Fitzgerald reissued a “neutral” rating and issued a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. B. Riley reduced their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and a consensus target price of $97.03.

Insider Transactions at Lam Research

In related news, CAO Christina Correia sold 647 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This represents a 13.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.29% of the company’s stock.

Lam Research 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.