Lam Research Co. (NASDAQ:LRCX) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp reduced its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 12.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,822 shares of the semiconductor company’s stock after selling 263 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Lam Research were worth $1,487,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Lam Research during the 2nd quarter worth $32,000. RFP Financial Group LLC grew its position in shares of Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of Lam Research during the 2nd quarter worth approximately $40,000. MFA Wealth Advisors LLC acquired a new position in shares of Lam Research during the 2nd quarter worth approximately $45,000. Finally, Rosenberg Matthew Hamilton increased its position in Lam Research by 24.0% during the second quarter. Rosenberg Matthew Hamilton now owns 62 shares of the semiconductor company’s stock worth $66,000 after buying an additional 12 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LRCX. UBS Group reduced their price objective on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Morgan Stanley increased their price target on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Citigroup reduced their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research note on Monday, September 16th. Finally, BNP Paribas raised shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. Eight 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $97.24.

Lam Research Stock Up 0.9 %

Shares of Lam Research stock opened at $76.26 on Monday. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average price of $75.77 and a 200 day moving average price of $85.34. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The firm has a market cap of $98.12 billion, a P/E ratio of 24.68, a P/E/G ratio of 1.25 and a beta of 1.46.

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. During the same period last year, the business posted $6.85 earnings per share. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. On average, sell-side analysts forecast that Lam Research Co. will post 3.5 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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 is Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.21%. Lam Research’s dividend payout ratio (DPR) is 29.77%.

Insiders Place Their Bets

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

Lam Research Company 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.