Glenmede Trust Co. NA Trims Stake in Lam Research Co. (NASDAQ:LRCX)

Glenmede Trust Co. NA trimmed its position in Lam Research Co. (NASDAQ:LRCX) by 4.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,844 shares of the semiconductor company’s stock after selling 1,854 shares during the quarter. Glenmede Trust Co. NA’s holdings in Lam Research were worth $30,068,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jennison Associates LLC increased its position in shares of Lam Research by 20.0% during the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after purchasing an additional 39,725 shares during the last quarter. Creative Planning lifted its stake in shares of Lam Research by 2.5% during the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after acquiring an additional 1,146 shares during the last quarter. Vest Financial LLC boosted its stake in shares of Lam Research by 68.7% during the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock valued at $29,372,000 after purchasing an additional 14,658 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in Lam Research by 9.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company’s stock worth $278,165,000 after acquiring an additional 28,089 shares in the last quarter. Finally, Benson Investment Management Company Inc. bought a new position in Lam Research in the third quarter worth approximately $5,182,000. 84.61% of the stock is currently owned by institutional investors.

Lam Research Price Performance

Lam Research stock opened at $71.57 on Thursday. Lam Research Co. has a 12-month low of $68.72 and a 12-month high of $113.00. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The stock has a market cap of $92.09 billion, a P/E ratio of 23.13, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48. The company has a fifty day simple moving average of $76.70 and a 200-day simple moving average of $86.90.

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

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Wednesday, December 11th. Lam Research’s payout ratio is 29.74%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LRCX. BNP Paribas upgraded Lam Research to a “hold” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reduced their price target on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. B. Riley lowered their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, UBS Group dropped their price target on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.97.

Insider Activity at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.29% of the company’s stock.

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.