Lam Research Co. (NASDAQ:LRCX) Shares Sold by Maverick Capital Ltd.

Maverick Capital Ltd. reduced its stake in Lam Research Co. (NASDAQ:LRCX) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,733 shares of the semiconductor company’s stock after selling 287 shares during the period. Maverick Capital Ltd.’s holdings in Lam Research were worth $22,632,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC increased its holdings in Lam Research by 20.0% in the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after purchasing an additional 39,725 shares in the last quarter. Creative Planning increased its holdings in Lam Research by 2.5% in the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock valued at $38,664,000 after purchasing an additional 1,146 shares in the last quarter. Vest Financial LLC grew its stake in shares of Lam Research by 68.7% during 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Lam Research by 9.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company’s stock valued at $278,165,000 after acquiring an additional 28,089 shares in the last quarter. Finally, Benson Investment Management Company Inc. acquired a new stake in shares of Lam Research during the third quarter valued at about $5,182,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on LRCX shares. Stifel Nicolaus restated a “buy” rating and set a $100.00 target price (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Morgan Stanley lowered their target price on 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. Citigroup lowered their target price on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Finally, UBS Group lowered their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $97.29.

Insider Buying and Selling

In related news, CAO Christina Correia sold 647 shares of the company’s 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 sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. This represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.29% of the stock is currently owned by corporate insiders.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $73.88 on Friday. Lam Research Co. has a 52 week low of $68.72 and a 52 week high of $113.00. 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 capitalization of $95.06 billion, a P/E ratio of 23.91, a PEG ratio of 1.14 and a beta of 1.48. The firm’s 50 day moving average is $76.52 and its two-hundred day moving average is $86.70.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same period in the previous year, the company posted $6.85 EPS. The company’s quarterly revenue was up 19.7% compared to the same quarter last year. Analysts anticipate that Lam Research Co. will post 3.52 earnings per share for the current 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 issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio is presently 29.77%.

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.