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

Profund Advisors LLC cut its stake in Lam Research Co. (NASDAQ:LRCXGet Rating) by 7.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,606 shares of the semiconductor company’s stock after selling 978 shares during the quarter. Profund Advisors LLC’s holdings in Lam Research were worth $4,248,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of LRCX. Sands Capital Management LLC grew its holdings in shares of Lam Research by 43.0% during the 2nd quarter. Sands Capital Management LLC now owns 1,877,199 shares of the semiconductor company’s stock worth $799,968,000 after purchasing an additional 564,607 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Lam Research by 345.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,224,808 shares of the semiconductor company’s stock worth $521,952,000 after purchasing an additional 949,749 shares during the period. Amundi grew its holdings in shares of Lam Research by 3.7% during the 2nd quarter. Amundi now owns 1,211,060 shares of the semiconductor company’s stock worth $509,336,000 after purchasing an additional 42,874 shares during the period. Van ECK Associates Corp grew its holdings in shares of Lam Research by 6.2% during the 3rd quarter. Van ECK Associates Corp now owns 1,140,329 shares of the semiconductor company’s stock worth $417,360,000 after purchasing an additional 66,847 shares during the period. Finally, Pictet Asset Management SA grew its holdings in shares of Lam Research by 0.8% during the 2nd quarter. Pictet Asset Management SA now owns 876,836 shares of the semiconductor company’s stock worth $373,664,000 after purchasing an additional 6,836 shares during the period. 81.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on LRCX shares. Citigroup lowered their price target on Lam Research from $700.00 to $560.00 and set a “buy” rating for the company in a report on Wednesday, October 19th. Summit Insights upgraded Lam Research from a “hold” rating to a “buy” rating in a report on Thursday, October 20th. JPMorgan Chase & Co. lowered their target price on Lam Research from $640.00 to $515.00 and set an “overweight” rating for the company in a report on Thursday, October 20th. UBS Group raised their target price on Lam Research from $450.00 to $530.00 and gave the company a “buy” rating in a report on Wednesday, November 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded Lam Research from a “hold” rating to a “buy” rating and raised their target price for the company from $400.00 to $520.00 in a report on Monday, December 12th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $492.27.

Insider Transactions at Lam Research

In other news, EVP Richard A. Gottscho sold 3,540 shares of the firm’s stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $450.00, for a total transaction of $1,593,000.00. Following the sale, the executive vice president now owns 26,672 shares of the company’s stock, valued at approximately $12,002,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Richard A. Gottscho sold 3,540 shares of the firm’s stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $450.00, for a total transaction of $1,593,000.00. Following the sale, the executive vice president now owns 26,672 shares of the company’s stock, valued at approximately $12,002,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Abhijit Y. Talwalkar sold 880 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $429.72, for a total value of $378,153.60. Following the sale, the director now directly owns 14,762 shares in the company, valued at approximately $6,343,526.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,420 shares of company stock valued at $1,971,154. Corporate insiders own 0.35% of the company’s stock.

Lam Research Stock Down 2.9 %

Shares of LRCX traded down $13.97 during midday trading on Wednesday, hitting $473.53. The company had a trading volume of 420,293 shares, compared to its average volume of 1,189,318. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.83 and a current ratio of 2.69. Lam Research Co. has a 1 year low of $299.59 and a 1 year high of $615.99. The firm has a market capitalization of $64.58 billion, a P/E ratio of 13.98, a P/E/G ratio of 2.01 and a beta of 1.42. The company’s 50-day simple moving average is $448.77 and its 200-day simple moving average is $435.90.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 4th. Stockholders of record on Wednesday, December 14th were given a dividend of $1.725 per share. This represents a $6.90 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Tuesday, December 13th. Lam Research’s dividend payout ratio (DPR) is presently 19.79%.

Lam Research Profile

(Get Rating)

Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.

Further Reading

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

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