Lam Research Co. (NASDAQ:LRCX) Shares Sold by Profund Advisors LLC

Profund Advisors LLC trimmed its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 11.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,609 shares of the semiconductor company’s stock after selling 2,233 shares during the period. Profund Advisors LLC’s holdings in Lam Research were worth $3,308,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. AlphaOne Investment Services LLC acquired a new position in shares of Lam Research in the 2nd quarter valued at $216,000. Scotia Capital Inc. acquired a new position in shares of Lam Research during the 2nd quarter valued at $800,000. Westfield Capital Management Co. LP lifted its holdings in shares of Lam Research by 1.1% during the 2nd quarter. Westfield Capital Management Co. LP now owns 238,505 shares of the semiconductor company’s stock valued at $44,801,000 after acquiring an additional 2,705 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of Lam Research by 61.2% during the 2nd quarter. Toronto Dominion Bank now owns 161,210 shares of the semiconductor company’s stock valued at $30,276,000 after acquiring an additional 61,213 shares in the last quarter. Finally, Cibc World Markets Corp lifted its holdings in shares of Lam Research by 17.9% during the 2nd quarter. Cibc World Markets Corp now owns 43,605 shares of the semiconductor company’s stock valued at $8,191,000 after acquiring an additional 6,618 shares in the last quarter. Institutional investors own 88.65% of the company’s stock.

LRCX has been the topic of a number of recent analyst reports. Goldman Sachs Group lowered shares of Lam Research from a “buy” rating to a “neutral” rating in a report on Monday, July 22nd. KeyCorp lifted their price objective on Lam Research from $236.00 to $252.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Credit Suisse Group reaffirmed a “positive” rating on shares of Lam Research in a research note on Monday, July 8th. They noted that the move was a valuation call. Needham & Company LLC lifted their price target on Lam Research from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Cfra set a $210.00 price target on Lam Research and gave the stock a “hold” rating in a research note on Saturday, August 31st. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $221.88.

In related news, EVP Richard A. Gottscho sold 3,741 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $219.00, for a total value of $819,279.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Abhijit Y. Talwalkar sold 3,987 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $210.00, for a total value of $837,270.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,857 shares of company stock worth $9,679,188. 0.44% of the stock is owned by insiders.

Shares of LRCX traded up $2.53 during mid-day trading on Friday, hitting $237.40. 464,958 shares of the company’s stock traded hands, compared to its average volume of 1,530,589. The company has a quick ratio of 2.96, a current ratio of 3.61 and a debt-to-equity ratio of 0.81. Lam Research Co. has a 1 year low of $122.64 and a 1 year high of $236.34. The firm has a market capitalization of $33.52 billion, a P/E ratio of 16.32, a PEG ratio of 1.42 and a beta of 1.62. The business’s 50-day moving average price is $208.59 and its 200-day moving average price is $192.24.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 31st. The semiconductor company reported $3.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.40 by $0.22. Lam Research had a return on equity of 43.72% and a net margin of 22.70%. The firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same period in the previous year, the firm earned $5.31 earnings per share. The business’s revenue was down 24.5% compared to the same quarter last year. Sell-side analysts anticipate that Lam Research Co. will post 13.6 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Tuesday, October 1st will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.94%. This is a boost from Lam Research’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Monday, September 30th. Lam Research’s dividend payout ratio is presently 30.24%.

About Lam Research

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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