Gulf International Bank UK Ltd Sells 452 Shares of Lam Research Co. (NASDAQ:LRCX)

Gulf International Bank UK Ltd decreased its position in Lam Research Co. (NASDAQ:LRCX) by 4.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,237 shares of the semiconductor company’s stock after selling 452 shares during the period. Gulf International Bank UK Ltd’s holdings in Lam Research were worth $8,354,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CarsonAllaria Wealth Management Ltd. acquired a new stake in Lam Research in the 2nd quarter valued at approximately $32,000. RFP Financial Group LLC raised its stake in Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in Lam Research during the second quarter worth approximately $40,000. Country Trust Bank bought a new position in shares of Lam Research in the second quarter worth $43,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Lam Research in the 2nd quarter valued at approximately $45,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on LRCX shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 price target (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 price objective on shares of Lam Research in a research report on Thursday, October 24th. Mizuho cut their price target on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. B. Riley lowered their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

Lam Research Stock Performance

Shares of LRCX opened at $74.17 on Tuesday. The firm has a market capitalization of $95.43 billion, a P/E ratio of 23.97, a P/E/G ratio of 1.19 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. Lam Research Co. has a 52 week low of $62.81 and a 52 week high of $113.00. The stock has a 50 day moving average price of $77.94 and a two-hundred day moving average price of $88.82.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. The firm had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter last year, the firm earned $6.85 EPS. Equities analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.24%. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is owned by corporate insiders.

Lam Research Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.