Pathstone Holdings LLC Cuts Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Pathstone Holdings LLC cut its position in shares of Lam Research Co. (NASDAQ:LRCX) by 2.6% during the 3rd quarter, Holdings Channel reports. The firm owned 26,319 shares of the semiconductor company’s stock after selling 690 shares during the quarter. Pathstone Holdings LLC’s holdings in Lam Research were worth $21,485,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC increased its position in shares of Lam Research by 16.7% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock valued at $67,000 after acquiring an additional 9 shares during the last quarter. Thomasville National Bank raised its stake in shares of Lam Research by 1.5% during the 2nd quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock worth $865,000 after purchasing an additional 12 shares during the period. Ignite Planners LLC raised its stake in shares of Lam Research by 2.8% during the 2nd quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock worth $484,000 after purchasing an additional 12 shares during the period. U.S. Capital Wealth Advisors LLC increased its stake in shares of Lam Research by 3.7% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock worth $357,000 after purchasing an additional 12 shares during the last quarter. Finally, RFP Financial Group LLC lifted its position in shares of Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 12 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on LRCX. Citigroup reduced their target price on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. TD Cowen upped their target price on shares of Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Morgan Stanley cut 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. B. Riley reduced their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $97.03.

Insider Buying and Selling at Lam Research

In related news, CAO Christina Correia sold 647 shares of the firm’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 sale, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.29% of the company’s stock.

Lam Research Stock Down 0.6 %

LRCX opened at $70.17 on Wednesday. The company has a market cap of $90.29 billion, a P/E ratio of 22.68, a P/E/G ratio of 1.11 and a beta of 1.48. Lam Research Co. has a 12 month low of $68.72 and a 12 month high of $113.00. The business’s 50-day moving average price is $77.10 and its 200-day moving average price is $87.70. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last announced 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. 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 during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the previous year, the company posted $6.85 earnings per share. The business’s revenue was up 19.7% on a year-over-year basis. On average, equities analysts expect that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders 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 1.31%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

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.