TD Private Client Wealth LLC Sells 1,946 Shares of Lam Research Co. (NASDAQ:LRCX)

TD Private Client Wealth LLC lessened its holdings in Lam Research Co. (NASDAQ:LRCX) by 42.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,627 shares of the semiconductor company’s stock after selling 1,946 shares during the quarter. TD Private Client Wealth LLC’s holdings in Lam Research were worth $2,144,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Coldstream Capital Management Inc. boosted its stake in shares of Lam Research by 27.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 9,622 shares of the semiconductor company’s stock valued at $7,852,000 after purchasing an additional 2,074 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Lam Research by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock valued at $2,539,413,000 after acquiring an additional 64,053 shares during the period. Savoie Capital LLC raised its position in shares of Lam Research by 12.2% in the 3rd quarter. Savoie Capital LLC now owns 8,280 shares of the semiconductor company’s stock valued at $6,757,000 after acquiring an additional 900 shares during the period. LRI Investments LLC raised its position in shares of Lam Research by 667.4% in the 3rd quarter. LRI Investments LLC now owns 2,563 shares of the semiconductor company’s stock valued at $2,092,000 after acquiring an additional 2,229 shares during the period. Finally, Groupama Asset Managment raised its position in shares of Lam Research by 7.8% in the 3rd quarter. Groupama Asset Managment now owns 24,921 shares of the semiconductor company’s stock valued at $203,000 after acquiring an additional 1,810 shares during the period. Institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

NASDAQ LRCX opened at $75.58 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The company has a market capitalization of $97.25 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 1.25 and a beta of 1.46. The firm’s 50 day moving average is $75.99 and its 200-day moving average is $85.64.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same period last year, the business earned $6.85 earnings per share. The firm’s revenue was up 19.7% on a year-over-year basis. Equities research analysts anticipate that Lam Research Co. will post 3.5 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.22%. Lam Research’s dividend payout ratio is presently 29.74%.

Insider Activity at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.29% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LRCX. B. Riley cut their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Sanford C. Bernstein cut their price target on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a research report on Friday, November 29th. Wells Fargo & Company cut their price target on shares of Lam Research from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Friday, December 6th. Finally, Mizuho dropped their target price on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and a consensus target price of $97.24.

Lam Research Company 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.