2,104 Lam Research Corporation $LRCX Shares Sold by Greenleaf Trust

Greenleaf Trust decreased its stake in Lam Research Corporation (NASDAQ:LRCX) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,762 shares of the semiconductor company’s stock after selling 2,104 shares during the quarter. Greenleaf Trust’s holdings in Lam Research were worth $16,347,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of LRCX. William Mack & Associates Inc. purchased a new position in Lam Research in the 3rd quarter valued at about $25,000. Cedar Mountain Advisors LLC increased its stake in Lam Research by 242.9% during the 1st quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company’s stock worth $26,000 after buying an additional 85 shares in the last quarter. Paladin Partners LLC acquired a new position in shares of Lam Research during the second quarter valued at approximately $26,000. Quintet Private Bank Europe S.A. raised its holdings in shares of Lam Research by 100.0% during the third quarter. Quintet Private Bank Europe S.A. now owns 100 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 50 shares during the last quarter. Finally, Dakota Community Bank & Trust NA acquired a new position in shares of Lam Research during the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on LRCX. Jefferies Financial Group set a $335.00 target price on shares of Lam Research and gave the stock a “buy” rating in a research note on Thursday, July 30th. Citigroup reiterated a “buy” rating and issued a $435.00 target price (down from $450.00) on shares of Lam Research in a research report on Thursday, October 22nd. Fundamental Research set a $390.00 price target on shares of Lam Research in a research report on Thursday, October 1st. Wells Fargo & Company restated an “overweight” rating and issued a $350.00 price target (down from $450.00) on shares of Lam Research in a research report on Thursday, July 30th. Finally, Stifel Nicolaus increased their price target on Lam Research from $325.00 to $425.00 and gave the company a “buy” rating in a report on Friday, July 10th. Twenty-six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $360.23.

Insider Activity at Lam Research

In other Lam Research news, Director Bethany Mayer sold 9,557 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $314.74, for a total value of $3,007,970.18. Following the sale, the director owned 20,995 shares of the company’s stock, valued at $6,607,966.30. The trade was a 31.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ava Harter sold 5,000 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $302.46, for a total value of $1,512,300.00. Following the transaction, the insider owned 42,462 shares of the company’s stock, valued at approximately $12,843,056.52. This represents a 10.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.31% of the stock is currently owned by company insiders.

Lam Research Stock Performance

LRCX opened at $239.11 on Monday. The stock has a market capitalization of $298.69 billion, a PE ratio of 35.63, a P/E/G ratio of 0.89 and a beta of 1.97. Lam Research Corporation has a one year low of $135.50 and a one year high of $438.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.86 and a current ratio of 2.48. The business’s 50 day moving average price is $294.47 and its 200 day moving average price is $283.78.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.02. Lam Research had a return on equity of 72.15% and a net margin of 32.34%. The firm had revenue of $8.22 billion during the quarter, compared to the consensus estimate of $8.14 billion. During the same period last year, the company earned $1.26 EPS. The company’s quarterly revenue was up 54.4% on a year-over-year basis. As a group, equities research analysts expect that Lam Research Corporation will post 9.59 EPS for the current year.

Lam Research Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Wednesday, September 23rd were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Wednesday, September 23rd. This is an increase from Lam Research’s previous quarterly dividend of $0.26. Lam Research’s dividend payout ratio is 19.67%.

Lam Research Profile

Lam Research Corporation (NASDAQ:LRCX) is a semiconductor equipment company that develops and manufactures systems used to fabricate integrated circuits. Its technologies support key stages of wafer processing, helping semiconductor manufacturers create the increasingly complex structures found in memory, logic and other types of chips.

The company’s product portfolio includes etch systems, which selectively remove materials from wafers; deposition systems, which apply thin films; and cleaning solutions used to remove contaminants and residue during manufacturing.