USS Investment Management Ltd Sells 1,841 Shares of Lam Research Co. (NASDAQ:LRCX)

USS Investment Management Ltd decreased its position in Lam Research Co. (NASDAQ:LRCXGet Rating) by 4.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,233 shares of the semiconductor company’s stock after selling 1,841 shares during the quarter. USS Investment Management Ltd’s holdings in Lam Research were worth $18,853,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. B. Metzler seel. Sohn & Co. AG raised its stake in shares of Lam Research by 4.2% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 17,465 shares of the semiconductor company’s stock worth $7,444,000 after buying an additional 711 shares during the period. Sands Capital Management LLC raised its stake in shares of Lam Research by 43.0% in the second quarter. Sands Capital Management LLC now owns 1,877,199 shares of the semiconductor company’s stock worth $799,968,000 after buying an additional 564,607 shares during the period. Bar Harbor Wealth Management raised its stake in shares of Lam Research by 1.6% in the second quarter. Bar Harbor Wealth Management now owns 6,705 shares of the semiconductor company’s stock worth $2,858,000 after buying an additional 108 shares during the period. Korea Investment CORP raised its stake in shares of Lam Research by 18.0% in the second quarter. Korea Investment CORP now owns 98,082 shares of the semiconductor company’s stock worth $41,798,000 after buying an additional 14,989 shares during the period. Finally, Prudential PLC raised its stake in shares of Lam Research by 2.1% in the second quarter. Prudential PLC now owns 6,389 shares of the semiconductor company’s stock worth $2,723,000 after buying an additional 133 shares during the period. Institutional investors own 80.09% of the company’s stock.

Analyst Ratings Changes

LRCX has been the topic of several recent research reports. Cowen decreased their price objective on Lam Research to $430.00 in a research note on Thursday, October 20th. Deutsche Bank Aktiengesellschaft cut their target price on Lam Research from $480.00 to $400.00 and set a “hold” rating for the company in a research report on Thursday, October 13th. Wells Fargo & Company cut their target price on Lam Research from $410.00 to $350.00 and set an “equal weight” rating for the company in a research report on Thursday, October 20th. Jefferies Financial Group cut their target price on Lam Research from $535.00 to $525.00 and set a “buy” rating for the company in a research report on Thursday, October 20th. Finally, Bank of America cut their price target on Lam Research from $460.00 to $405.00 and set a “buy” rating for the company in a report on Thursday, October 20th. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus price target of $484.86.

Lam Research Trading Up 1.3 %

Shares of LRCX stock traded up $5.78 during trading hours on Thursday, reaching $461.40. 823,667 shares of the stock were exchanged, compared to its average volume of 2,077,977. Lam Research Co. has a 12-month low of $299.59 and a 12-month high of $731.85. The company has a current ratio of 2.69, a quick ratio of 1.83 and a debt-to-equity ratio of 0.67. The company’s 50-day moving average price is $398.23 and its 200-day moving average price is $440.43. The firm has a market capitalization of $62.93 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 1.86 and a beta of 1.37.

Lam Research (NASDAQ:LRCXGet Rating) last released its quarterly earnings results on Wednesday, October 19th. The semiconductor company reported $10.42 EPS for the quarter, topping analysts’ consensus estimates of $9.54 by $0.88. Lam Research had a net margin of 26.96% and a return on equity of 74.74%. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.91 billion. During the same period in the previous year, the company earned $8.36 EPS. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, equities analysts anticipate that Lam Research Co. will post 34.63 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Wednesday, December 14th will be paid a dividend of $1.725 per share. The ex-dividend date is Tuesday, December 13th. This represents a $6.90 dividend on an annualized basis and a dividend yield of 1.50%. Lam Research’s dividend payout ratio is presently 19.79%.

About Lam Research

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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.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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