Vident Investment Advisory LLC trimmed its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 30.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,297 shares of the semiconductor company’s stock after selling 6,562 shares during the quarter. Vident Investment Advisory LLC’s holdings in Lam Research were worth $2,831,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in LRCX. Odey Holdings AG boosted its position in shares of Lam Research by 9.9% in the second quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock valued at $115,000 after acquiring an additional 73 shares during the period. BDO Wealth Advisors LLC bought a new stake in shares of Lam Research in the second quarter valued at about $118,000. Bollard Group LLC bought a new stake in shares of Lam Research in the third quarter valued at about $130,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Lam Research in the third quarter valued at about $134,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in shares of Lam Research by 358.3% in the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,100 shares of the semiconductor company’s stock valued at $156,000 after acquiring an additional 860 shares during the period. 93.80% of the stock is owned by hedge funds and other institutional investors.

Shares of Lam Research Co. (LRCX) opened at $186.46 on Monday. Lam Research Co. has a 52-week low of $103.01 and a 52-week high of $219.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.83 and a current ratio of 3.31. The firm has a market cap of $30,196.49, a PE ratio of 16.06, a P/E/G ratio of 0.85 and a beta of 1.57.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.27 by $0.19. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.46 billion. Lam Research had a return on equity of 30.19% and a net margin of 22.85%. The business’s quarterly revenue was up 51.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.81 earnings per share. analysts expect that Lam Research Co. will post 14.74 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Wednesday, December 6th will be paid a dividend of $0.50 per share. This is an increase from Lam Research’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $2.00 annualized dividend and a yield of 1.07%. Lam Research’s payout ratio is presently 18.28%.

Lam Research declared that its Board of Directors has approved a stock buyback program on Tuesday, November 14th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

A number of equities research analysts have recently issued reports on LRCX shares. Needham & Company LLC reissued a “buy” rating and issued a $220.00 target price (up previously from $200.00) on shares of Lam Research in a research report on Friday, October 13th. KeyCorp reissued a “buy” rating and issued a $225.00 target price on shares of Lam Research in a research report on Sunday, November 19th. BidaskClub cut shares of Lam Research from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. B. Riley reissued a “buy” rating and issued a $250.00 target price on shares of Lam Research in a research report on Tuesday, November 14th. Finally, Berenberg Bank reissued a “buy” rating and issued a $240.00 target price on shares of Lam Research in a research report on Thursday, October 19th. Four equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $212.99.

In other Lam Research news, Director Stephen G. Newberry sold 750 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $175.00, for a total transaction of $131,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Timothy Archer sold 8,691 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $171.76, for a total value of $1,492,766.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,938 shares of company stock valued at $13,655,630. Insiders own 0.41% of the company’s stock.

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About Lam Research

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.

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

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