Lam Research Co. (NASDAQ:LRCX) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC trimmed its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 9.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,333 shares of the semiconductor company’s stock after selling 565 shares during the period. Kingsview Wealth Management LLC’s holdings in Lam Research were worth $4,353,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LRCX. Van ECK Associates Corp lifted its position in shares of 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 in the last quarter. Foster Victor Wealth Advisors LLC lifted its position in shares of Lam Research by 994.1% during the third quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company’s stock worth $190,066,000 after purchasing an additional 211,614 shares in the last quarter. Swedbank AB acquired a new position in shares of Lam Research during the first quarter worth $192,668,000. Panagora Asset Management Inc. lifted its position 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 worth $187,005,000 after purchasing an additional 118,634 shares in the last quarter. Finally, Tairen Capital Ltd lifted its position in shares of Lam Research by 199.5% during the second quarter. Tairen Capital Ltd now owns 163,605 shares of the semiconductor company’s stock worth $174,215,000 after purchasing an additional 108,973 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Lam Research Stock Down 0.7 %

Lam Research stock opened at $72.64 on Friday. The company has a 50-day simple moving average of $76.93 and a 200-day simple moving average of $87.32. The firm has a market capitalization of $93.47 billion, a P/E ratio of 23.48, a P/E/G ratio of 1.16 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. Lam Research Co. has a one year low of $68.72 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion during 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 quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.85 earnings per share. As a group, equities analysts expect that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Morgan Stanley dropped their price target 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. UBS Group dropped their price target on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. B. Riley dropped their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. Finally, StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.97.

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.