Toronto Dominion Bank Sells 40,272 Shares of Lam Research Co. (NASDAQ:LRCX)

Toronto Dominion Bank decreased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 36.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 71,598 shares of the semiconductor company’s stock after selling 40,272 shares during the quarter. Toronto Dominion Bank’s holdings in Lam Research were worth $58,430,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Lam Research during the 2nd quarter valued at about $32,000. RFP Financial Group LLC boosted its stake in 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 buying an additional 12 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in Lam Research during the 2nd quarter valued at approximately $40,000. MFA Wealth Advisors LLC purchased a new position in Lam Research during the 2nd quarter valued at approximately $45,000. Finally, ORG Partners LLC purchased a new stake in shares of Lam Research during the 2nd quarter worth approximately $65,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Lam Research news, CAO Christina Correia sold 647 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is owned by company insiders.

Lam Research Price Performance

Shares of LRCX stock opened at $78.23 on Thursday. Lam Research Co. has a twelve month low of $68.87 and a twelve 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 fifty day simple moving average of $76.02 and a two-hundred day simple moving average of $85.77. The stock has a market capitalization of $100.66 billion, a price-to-earnings ratio of 25.32, a P/E/G ratio of 1.22 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share 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 analyst estimates 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 for the quarter was up 19.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.85 earnings per share. On average, analysts predict that Lam Research Co. will post 3.5 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is 29.77%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on LRCX shares. Stifel Nicolaus restated a “buy” rating and issued a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Mizuho reduced their target price on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Morgan Stanley boosted their price objective on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, BNP Paribas raised Lam Research to a “hold” rating in a research note on Thursday, October 24th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.24.

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.