Lam Research Co. (LRCX) Shares Sold by Great West Life Assurance Co. Can

Great West Life Assurance Co. Can decreased its stake in Lam Research Co. (NASDAQ:LRCX) by 28.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 180,852 shares of the semiconductor company’s stock after selling 73,266 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Lam Research were worth $27,477,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Valeo Financial Advisors LLC acquired a new stake in shares of Lam Research in the second quarter valued at about $402,000. Signet Financial Management LLC grew its position in shares of Lam Research by 21,700.0% in the second quarter. Signet Financial Management LLC now owns 654 shares of the semiconductor company’s stock valued at $113,000 after purchasing an additional 651 shares during the period. Morgan Stanley grew its position in shares of Lam Research by 83.1% in the second quarter. Morgan Stanley now owns 1,530,120 shares of the semiconductor company’s stock valued at $264,481,000 after purchasing an additional 694,440 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of Lam Research by 7.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 21,894 shares of the semiconductor company’s stock valued at $3,784,000 after purchasing an additional 1,528 shares during the period. Finally, Baird Financial Group Inc. grew its position in shares of Lam Research by 50.5% in the second quarter. Baird Financial Group Inc. now owns 6,880 shares of the semiconductor company’s stock valued at $1,189,000 after purchasing an additional 2,308 shares during the period. Institutional investors and hedge funds own 90.36% of the company’s stock.

NASDAQ:LRCX opened at $156.96 on Friday. The company has a current ratio of 2.66, a quick ratio of 2.00 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $24.36 billion, a price-to-earnings ratio of 8.82, a PEG ratio of 0.91 and a beta of 1.30. Lam Research Co. has a 1-year low of $133.42 and a 1-year high of $234.88.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Tuesday, October 16th. The semiconductor company reported $3.36 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.14. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.31 billion. Lam Research had a net margin of 21.26% and a return on equity of 49.80%. Lam Research’s revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $3.46 EPS. Equities analysts expect that Lam Research Co. will post 14.37 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 26th. Shareholders of record on Wednesday, December 5th will be issued a $1.10 dividend. The ex-dividend date is Tuesday, December 4th. This represents a $4.40 annualized dividend and a yield of 2.80%. Lam Research’s payout ratio is 24.62%.

Several brokerages have recently issued reports on LRCX. BidaskClub lowered shares of Lam Research from a “hold” rating to a “sell” rating in a research report on Wednesday, August 15th. Mizuho lowered shares of Lam Research from a “buy” rating to a “neutral” rating in a research report on Monday, October 1st. Deutsche Bank restated a “hold” rating and set a $170.00 price target (down from $230.00) on shares of Lam Research in a research report on Monday, October 1st. ValuEngine lowered shares of Lam Research from a “hold” rating to a “sell” rating in a research report on Saturday, August 18th. Finally, UBS Group lowered shares of Lam Research from a “positive” rating to a “neutral” rating in a research report on Tuesday, October 23rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $224.22.

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Lam Research Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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

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