Wealth Enhancement Advisory Services LLC Sells 20,578 Shares of Lam Research Corporation $LRCX

Wealth Enhancement Advisory Services LLC trimmed its holdings in shares of Lam Research Corporation (NASDAQ:LRCX) by 6.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 300,913 shares of the semiconductor company’s stock after selling 20,578 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Lam Research were worth $42,233,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of LRCX. IMG Wealth Management Inc. bought a new position in shares of Lam Research in the second quarter worth approximately $26,000. Howard Hughes Medical Institute bought a new position in shares of Lam Research in the 2nd quarter worth $27,000. Strategic Wealth Investment Group LLC purchased a new stake in shares of Lam Research during the 2nd quarter valued at $29,000. Delos Wealth Advisors LLC bought a new stake in shares of Lam Research during the 2nd quarter worth $30,000. Finally, REAP Financial Group LLC purchased a new position in Lam Research in the second quarter worth $31,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

NASDAQ LRCX opened at $224.06 on Wednesday. The company has a quick ratio of 1.60, a current ratio of 2.21 and a debt-to-equity ratio of 0.37. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $229.57. The business has a 50-day moving average price of $174.00 and a 200-day moving average price of $139.28. The firm has a market cap of $281.42 billion, a price-to-earnings ratio of 49.35, a price-to-earnings-growth ratio of 2.55 and a beta of 1.77.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, October 22nd. The semiconductor company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.04. Lam Research had a return on equity of 60.60% and a net margin of 29.66%.The company had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.23 billion. During the same period in the previous year, the firm earned $0.86 EPS. The firm’s revenue was up 27.7% compared to the same quarter last year. As a group, equities research analysts predict that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 7th. Investors of record on Wednesday, December 3rd were given a dividend of $0.26 per share. The ex-dividend date was Wednesday, December 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. Lam Research’s dividend payout ratio is currently 22.91%.

Analysts Set New Price Targets

LRCX has been the topic of several recent research reports. Barclays set a $195.00 price objective on Lam Research in a research report on Thursday, January 15th. Wells Fargo & Company set a $250.00 price objective on shares of Lam Research and gave the company an “overweight” rating in a report on Thursday, January 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $265.00 target price (up previously from $210.00) on shares of Lam Research in a research report on Thursday, January 8th. Susquehanna restated a “positive” rating and issued a $250.00 price target on shares of Lam Research in a research note on Monday, January 12th. Finally, Rothschild & Co Redburn upped their price objective on Lam Research from $150.00 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Twenty-eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $196.33.

Insider Activity at Lam Research

In other news, CFO Douglas R. Bettinger sold 40,080 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $150.60, for a total transaction of $6,036,048.00. Following the completion of the transaction, the chief financial officer owned 987,237 shares in the company, valued at $148,677,892.20. This trade represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bethany Mayer sold 1,298 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $159.99, for a total value of $207,667.02. Following the completion of the sale, the director owned 1,652 shares in the company, valued at $264,303.48. This represents a 44.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 50,418 shares of company stock valued at $7,667,305. Corporate insiders own 0.31% of the company’s stock.

Lam Research Company Profile

Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.

Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.