Lam Research Co. (NASDAQ:LRCX) Shares Sold by First Financial Bankshares Inc

First Financial Bankshares Inc lessened its position in Lam Research Co. (NASDAQ:LRCX) by 75.7% in the 3rd quarter, Holdings Channel reports. The fund owned 3,536 shares of the semiconductor company’s stock after selling 10,996 shares during the period. First Financial Bankshares Inc’s holdings in Lam Research were worth $2,886,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Planning raised its stake in shares of Lam Research by 2.5% during the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after buying an additional 1,146 shares in the last quarter. Vest Financial LLC lifted its holdings in Lam Research by 68.7% in the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock valued at $29,372,000 after acquiring an additional 14,658 shares during the period. Symmetry Investments LP acquired a new position in shares of Lam Research during the 2nd quarter worth $3,229,000. Benson Investment Management Company Inc. purchased a new position in shares of Lam Research in the 3rd quarter valued at about $5,182,000. Finally, Vontobel Holding Ltd. lifted its stake in shares of Lam Research by 38.4% in the third quarter. Vontobel Holding Ltd. now owns 120,736 shares of the semiconductor company’s stock valued at $98,530,000 after purchasing an additional 33,489 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Mizuho lowered their target price on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. 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 report on Wednesday, October 23rd. TD Cowen upped their target price on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 price target on shares of Lam Research in a research note on Thursday. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price objective (down from $105.00) on shares of Lam Research in a research note on Thursday. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

Lam Research Stock Up 1.4 %

Shares of NASDAQ LRCX opened at $77.68 on Monday. The stock has a fifty day moving average price of $79.21 and a 200 day moving average price of $89.66. The company has a market cap of $10.16 billion, a P/E ratio of 2.86, a P/E/G ratio of 1.89 and a beta of 1.47. Lam Research Co. has a 12-month low of $57.44 and a 12-month high of $113.00. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same period last year, the business earned $6.85 EPS. The business’s revenue was up 19.7% on a year-over-year basis. Research analysts anticipate that Lam Research Co. will post 3.23 EPS for the current fiscal year.

Lam Research Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders 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 yield of 1.18%. Lam Research’s dividend payout ratio (DPR) is 3.38%.

Insider Transactions at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction 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 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.32% of the company’s stock.

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.