Ossiam trimmed its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 82.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 554 shares of the semiconductor company’s stock after selling 2,638 shares during the quarter. Ossiam’s holdings in Lam Research were worth $104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Lcnb Corp lifted its holdings in shares of Lam Research by 2.2% in the 2nd quarter. Lcnb Corp now owns 2,306 shares of the semiconductor company’s stock valued at $433,000 after buying an additional 50 shares during the period. Cypress Capital LLC lifted its holdings in shares of Lam Research by 1.4% in the 2nd quarter. Cypress Capital LLC now owns 4,126 shares of the semiconductor company’s stock valued at $775,000 after buying an additional 56 shares during the period. Confluence Wealth Management LLC lifted its holdings in shares of Lam Research by 2.0% in the 2nd quarter. Confluence Wealth Management LLC now owns 2,906 shares of the semiconductor company’s stock valued at $546,000 after buying an additional 56 shares during the period. ETF Managers Group LLC lifted its holdings in shares of Lam Research by 9.0% in the 1st quarter. ETF Managers Group LLC now owns 713 shares of the semiconductor company’s stock valued at $128,000 after buying an additional 59 shares during the period. Finally, Synovus Financial Corp lifted its holdings in shares of Lam Research by 10.7% in the 1st quarter. Synovus Financial Corp now owns 654 shares of the semiconductor company’s stock valued at $117,000 after buying an additional 63 shares during the period. Hedge funds and other institutional investors own 88.65% of the company’s stock.

NASDAQ:LRCX traded up $2.15 during trading hours on Friday, hitting $237.02. 391,357 shares of the stock were exchanged, compared to its average volume of 1,530,589. Lam Research Co. has a 52-week low of $122.64 and a 52-week high of $236.34. The firm’s fifty day moving average price is $208.59 and its 200 day moving average price is $192.24. The company has a current ratio of 3.61, a quick ratio of 2.96 and a debt-to-equity ratio of 0.81. The company has a market cap of $33.52 billion, a P/E ratio of 16.29, a P/E/G ratio of 1.42 and a beta of 1.62.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $3.62 EPS for the quarter, topping 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 company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same period in the previous year, the business earned $5.31 EPS. Lam Research’s quarterly revenue was down 24.5% on a year-over-year basis. Equities analysts expect that Lam Research Co. will post 13.6 EPS for the current fiscal year.

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

Several equities analysts have recently issued reports on LRCX shares. ValuEngine cut Lam Research from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. KeyCorp boosted their price objective on Lam Research from $236.00 to $252.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Needham & Company LLC upped their price target on Lam Research from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Friday. Royal Bank of Canada reaffirmed a “buy” rating on shares of Lam Research in a report on Wednesday, August 7th. Finally, Evercore ISI raised Lam Research from an “in-line” rating to an “outperform” rating in a report on Tuesday, September 3rd. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $221.88.

In other news, insider Seshasayee Varadarajan sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $200.00, for a total value of $4,000,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Abhijit Y. Talwalkar sold 3,987 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were 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 quarter, insiders have sold 45,857 shares of company stock valued at $9,679,188. 0.44% of the stock is owned by company insiders.

Lam Research Company 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.

Further Reading: Stochastic Momentum Index (SMI)

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

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