16,161 Lam Research Corporation $LRCX Shares Sold by Profund Advisors LLC

Profund Advisors LLC trimmed its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 9.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 157,595 shares of the semiconductor company’s stock after selling 16,161 shares during the quarter. Lam Research comprises 1.5% of Profund Advisors LLC’s holdings, making the stock its 13th biggest position. Profund Advisors LLC’s holdings in Lam Research were worth $51,772,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. World Equity Group Inc. lifted its stake in Lam Research by 0.5% during the second quarter. World Equity Group Inc. now owns 5,576 shares of the semiconductor company’s stock valued at $2,416,000 after buying an additional 29 shares in the last quarter. Vann Equity Management LLC increased its holdings in Lam Research by 1.1% in the 3rd quarter. Vann Equity Management LLC now owns 2,873 shares of the semiconductor company’s stock valued at $944,000 after buying an additional 31 shares during the period. Tenzing Financial LLC lifted its holdings in shares of Lam Research by 3.5% during the second quarter. Tenzing Financial LLC now owns 1,018 shares of the semiconductor company’s stock valued at $441,000 after acquiring an additional 34 shares during the period. Advus Financial Partners LLC raised its holdings in shares of Lam Research by 1.0% in the second quarter. Advus Financial Partners LLC now owns 3,578 shares of the semiconductor company’s stock valued at $1,550,000 after buying an additional 34 shares during the last quarter. Finally, Paragon Private Wealth Management LLC lifted its stake in shares of Lam Research by 1.3% during the second quarter. Paragon Private Wealth Management LLC now owns 2,719 shares of the semiconductor company’s stock valued at $1,178,000 after acquiring an additional 35 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LRCX. Stifel Nicolaus increased their target price on Lam Research from $325.00 to $425.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Evercore set a $315.00 target price on Lam Research in a report on Tuesday, October 20th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $350.00 target price (down from $450.00) on shares of Lam Research in a report 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 report on Thursday, October 22nd. Finally, Morgan Stanley set a $339.00 price objective on Lam Research and gave the company an “overweight” rating in a research note on Thursday, October 22nd. Twenty-six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average price target of $360.23.

Insiders Place Their Bets

In related news, 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 completion of the sale, the insider directly owned 42,462 shares in the company, valued at $12,843,056.52. This trade represents a 10.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bethany Mayer sold 9,557 shares of the company’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the completion of the transaction, the director owned 20,995 shares in the company, valued at approximately $6,607,966.30. The trade was a 31.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.31% of the stock is currently owned by insiders.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $239.11 on Friday. The firm 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 1.85. The company has a 50-day moving average price of $294.47 and a two-hundred day moving average price of $283.78. Lam Research Corporation has a twelve month low of $135.50 and a twelve month high of $438.50. The company has a quick ratio of 1.86, a current ratio of 2.48 and a debt-to-equity ratio of 0.27.

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 business had revenue of $8.22 billion for the quarter, compared to analysts’ expectations of $8.14 billion. During the same quarter in the prior year, the firm posted $1.26 EPS. The firm’s quarterly revenue was up 54.4% on a year-over-year basis. Equities analysts forecast 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. Shareholders of record on Wednesday, September 23rd were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 0.6%. This is a boost from Lam Research’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, September 23rd. Lam Research’s dividend payout ratio (DPR) is 19.67%.

About Lam Research

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.