Oppenheimer & Co. Inc. Has $1.50 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

Oppenheimer & Co. Inc. cut its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 18.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,840 shares of the semiconductor company’s stock after selling 405 shares during the period. Oppenheimer & Co. Inc.’s holdings in Lam Research were worth $1,502,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of LRCX. CarsonAllaria Wealth Management Ltd. acquired a new stake in Lam Research during the 2nd quarter worth approximately $32,000. RFP Financial Group LLC increased 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 valued at $37,000 after buying an additional 12 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Lam Research during the 2nd quarter worth approximately $40,000. Country Trust Bank acquired a new position in Lam Research during the second quarter worth $43,000. Finally, MFA Wealth Advisors LLC bought a new stake in Lam Research during the second quarter worth $45,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Activity at Lam Research

In other news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 target price (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Mizuho cut their target price on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Finally, B. Riley reduced their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $97.03.

Lam Research Trading Down 6.3 %

Shares of Lam Research stock opened at $70.05 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. Lam Research Co. has a 1 year low of $68.72 and a 1 year high of $113.00. The firm has a market cap of $90.13 billion, a PE ratio of 22.64, a PEG ratio of 1.11 and a beta of 1.48. The company has a 50 day simple moving average of $77.23 and a two-hundred day simple moving average of $87.95.

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

Lam Research Announces Dividend

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 given a $0.23 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.31%. Lam Research’s payout ratio is 29.74%.

About Lam Research

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.