CENTRAL TRUST Co Sells 624 Shares of Lam Research Co. (NASDAQ:LRCX)

CENTRAL TRUST Co reduced its position in shares of Lam Research Co. (NASDAQ:LRCX) by 19.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,583 shares of the semiconductor company’s stock after selling 624 shares during the period. CENTRAL TRUST Co’s holdings in Lam Research were worth $2,108,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Foster Victor Wealth Advisors LLC lifted its position in shares of Lam Research by 994.1% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company’s stock worth $190,066,000 after buying an additional 211,614 shares in the last quarter. Swedbank AB purchased a new stake in shares of Lam Research during the first quarter valued at approximately $192,668,000. Van ECK Associates Corp lifted its holdings in Lam Research by 24.6% during the first quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company’s stock worth $940,592,000 after acquiring an additional 191,230 shares during the period. Vanguard Group Inc. boosted its position in Lam Research by 1.2% in the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after purchasing an additional 144,914 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Lam Research by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after purchasing an additional 142,903 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on LRCX. UBS Group reduced their price target on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Mizuho reduced their target price on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday. TD Cowen increased their price objective on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus restated a “buy” rating and issued a $100.00 target price (down from $105.00) on shares of Lam Research in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $97.03.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the sale, 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 SEC, which is available at this hyperlink. 0.32% of the stock is owned by company insiders.

Lam Research Price Performance

Lam Research stock opened at $76.57 on Friday. The stock has a market cap of $10.01 billion, a price-to-earnings ratio of 2.82, a PEG ratio of 1.75 and a beta of 1.47. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The business has a 50-day simple moving average of $79.60 and a 200 day simple moving average of $89.94. Lam Research Co. has a 52 week low of $57.44 and a 52 week high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data 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 company had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. Lam Research’s revenue was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.85 earnings per share. On average, research 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 disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Tuesday, September 17th. Lam Research’s dividend payout ratio is currently 3.38%.

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.