Lam Research Co. (NASDAQ:LRCX) Holdings Cut by Great Diamond Partners LLC

Great Diamond Partners LLC cut its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 28.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 380 shares of the semiconductor company’s stock after selling 151 shares during the quarter. Great Diamond Partners LLC’s holdings in Lam Research were worth $310,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Creative Planning raised its holdings in shares of Lam Research by 2.5% during the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock valued at $38,664,000 after buying an additional 1,146 shares during the last quarter. Vest Financial LLC increased its position in Lam Research by 68.7% in the 3rd 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 bought a new stake in Lam Research during the 2nd quarter valued at $3,229,000. Benson Investment Management Company Inc. acquired a new position in Lam Research during the 3rd quarter worth $5,182,000. Finally, Vontobel Holding Ltd. grew 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 worth $98,530,000 after purchasing an additional 33,489 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Stock Down 2.4 %

NASDAQ:LRCX opened at $76.45 on Thursday. Lam Research Co. has a 1-year low of $57.44 and a 1-year high of $113.00. The firm has a market capitalization of $10.00 billion, a price-to-earnings ratio of 2.81, a PEG ratio of 1.89 and a beta of 1.47. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The business’s fifty day moving average price is $78.59 and its 200 day moving average price is $89.23.

Lam Research (NASDAQ:LRCX) last issued its 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 return on equity of 48.71% and a net margin of 25.68%. The company had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the prior year, the company earned $6.85 EPS. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. On average, sell-side analysts forecast that Lam Research Co. will post 3.23 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research’s dividend payout ratio is currently 3.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on LRCX shares. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Stifel Nicolaus restated a “buy” rating and set a $100.00 price target (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Morgan Stanley decreased their price objective on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. TD Cowen raised their target price on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Citigroup dropped their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research report on Monday, September 16th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $97.03.

Insider Transactions at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.32% of the stock is currently owned by company insiders.

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.