AT Bancorp cut its stake in shares of Lam Research Corp. (NASDAQ:LRCX) by 77.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,336 shares of the company’s stock after selling 54,819 shares during the period. AT Bancorp’s holdings in Lam Research Corp. were worth $1,547,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its position in Lam Research Corp. by 0.9% in the first quarter. Arizona State Retirement System now owns 43,128 shares of the company’s stock valued at $3,562,000 after buying an additional 400 shares in the last quarter. Squarepoint Ops LLC raised its position in Lam Research Corp. by 35.9% in the first quarter. Squarepoint Ops LLC now owns 16,052 shares of the company’s stock valued at $1,326,000 after buying an additional 4,240 shares in the last quarter. First Republic Investment Management Inc. raised its position in Lam Research Corp. by 0.6% in the first quarter. First Republic Investment Management Inc. now owns 114,024 shares of the company’s stock valued at $9,418,000 after buying an additional 662 shares in the last quarter. BlueMountain Capital Management LLC raised its position in Lam Research Corp. by 525.8% in the first quarter. BlueMountain Capital Management LLC now owns 8,117 shares of the company’s stock valued at $670,000 after buying an additional 6,820 shares in the last quarter. Finally, DNB Asset Management AS raised its position in Lam Research Corp. by 3.0% in the second quarter. DNB Asset Management AS now owns 13,937 shares of the company’s stock valued at $1,172,000 after buying an additional 400 shares in the last quarter.

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

Lam Research Corp. (NASDAQ:LRCX) traded down 0.72% during midday trading on Monday, reaching $106.77. 2,046,280 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $99.65 and its 200-day moving average price is $90.97. Lam Research Corp. has a one year low of $63.10 and a one year high of $108.04. The stock has a market cap of $17.39 billion, a PE ratio of 21.19 and a beta of 1.49.

Lam Research Corp. (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, October 19th. The company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.03. The firm earned $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. Lam Research Corp. had a return on equity of 18.43% and a net margin of 15.02%. Lam Research Corp.’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.82 EPS. Equities analysts predict that Lam Research Corp. will post $8.28 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Stockholders of record on Wednesday, December 14th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Monday, December 12th. This is a positive change from Lam Research Corp.’s previous quarterly dividend of $0.30. Lam Research Corp.’s payout ratio is currently 23.86%.

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Several equities research analysts recently issued reports on LRCX shares. RBC Capital Markets reaffirmed an “outperform” rating and set a $105.00 price target on shares of Lam Research Corp. in a report on Sunday, October 9th. Zacks Investment Research raised shares of Lam Research Corp. from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a report on Tuesday, September 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $120.00 price target (up from $115.00) on shares of Lam Research Corp. in a report on Monday, October 17th. Goldman Sachs Group Inc. assumed coverage on shares of Lam Research Corp. in a report on Tuesday, October 25th. They set a “neutral” rating and a $104.00 price target on the stock. Finally, Bank of America Corp. reissued a “buy” rating and set a $115.00 target price on shares of Lam Research Corp. in a report on Monday, November 21st. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $106.35.

In other news, insider Richard A. Gottscho sold 47,540 shares of Lam Research Corp. stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $98.85, for a total value of $4,699,329.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Douglas R. Bettinger sold 9,956 shares of Lam Research Corp. stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $106.88, for a total value of $1,064,097.28. The disclosure for this sale can be found here. 0.46% of the stock is owned by insiders.

Lam Research Corp. Company Profile

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.

5 Day Chart for NASDAQ:LRCX

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