Independent Advisor Alliance Decreases Holdings in Lam Research Co. (NASDAQ:LRCX)

Independent Advisor Alliance lowered its position in Lam Research Co. (NASDAQ:LRCX) by 9.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,391 shares of the semiconductor company’s stock after selling 244 shares during the period. Independent Advisor Alliance’s holdings in Lam Research were worth $1,951,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC lifted its holdings in shares of Lam Research by 16.7% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock valued at $67,000 after purchasing an additional 9 shares in the last quarter. Thomasville National Bank lifted its stake in Lam Research by 1.5% during the 2nd quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock valued at $865,000 after acquiring an additional 12 shares during the period. U.S. Capital Wealth Advisors LLC boosted its holdings in shares of Lam Research by 3.7% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock valued at $357,000 after acquiring an additional 12 shares during the last quarter. Ignite Planners LLC grew its stake in shares of Lam Research by 2.8% in the second quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock worth $484,000 after acquiring an additional 12 shares during the period. Finally, RFP Financial Group LLC raised its holdings in shares of Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Lam Research Stock Performance

LRCX opened at $72.69 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The stock has a market capitalization of $93.53 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 1.15 and a beta of 1.48. The company has a fifty day moving average of $76.80 and a 200 day moving average of $87.04. Lam Research Co. has a fifty-two week low of $68.72 and a fifty-two week high of $113.00.

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

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is presently 29.77%.

Insider Buying and Selling

In other news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. The trade was a 13.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LRCX shares. BNP Paribas raised shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. Citigroup cut their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 target price (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Wells Fargo & Company cut their price target on Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Finally, Mizuho lowered their price objective on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.97.

Lam Research 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.