Moran Wealth Management LLC Sells 8,891 Shares of Lam Research Co. (NASDAQ:LRCX)

Moran Wealth Management LLC trimmed its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 67.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,325 shares of the semiconductor company’s stock after selling 8,891 shares during the period. Moran Wealth Management LLC’s holdings in Lam Research were worth $3,530,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of LRCX. Van ECK Associates Corp grew its holdings in 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 valued at $13,123,440,000 after purchasing an additional 15,005,178 shares during the period. Foster Victor Wealth Advisors LLC grew its holdings in 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 valued at $190,066,000 after purchasing an additional 211,614 shares during the period. Swedbank AB acquired a new position in Lam Research during the first quarter valued at approximately $192,668,000. Price T Rowe Associates Inc. MD grew its holdings in Lam Research by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after purchasing an additional 142,903 shares during the period. Finally, Panagora Asset Management Inc. grew its holdings in Lam Research by 208.2% during the second quarter. Panagora Asset Management Inc. now owns 175,616 shares of the semiconductor company’s stock valued at $187,005,000 after purchasing an additional 118,634 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of LRCX opened at $70.05 on Thursday. The firm has a market capitalization of $90.13 billion, a PE ratio of 22.64, a PEG ratio of 1.12 and a beta of 1.48. The company’s 50-day moving average is $77.04 and its 200-day moving average is $87.56. Lam Research Co. has a fifty-two week low of $68.72 and a fifty-two week high of $113.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

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

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.31%. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

Insider Activity at Lam Research

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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.29% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on LRCX. Morgan Stanley reduced 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 report on Wednesday, October 23rd. Wells Fargo & Company reduced their price target on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. UBS Group reduced their price target on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, September 12th. TD Cowen upped their price target on shares of Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $100.00 price target (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Lam Research has an average rating of “Moderate Buy” and an average target price of $97.03.

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.