Simplicity Wealth LLC Sells 32,151 Shares of Lam Research Corporation $LRCX

Simplicity Wealth LLC lowered its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 51.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,163 shares of the semiconductor company’s stock after selling 32,151 shares during the period. Simplicity Wealth LLC’s holdings in Lam Research were worth $4,039,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Triad Wealth Partners LLC lifted its stake in Lam Research by 19.9% in the third quarter. Triad Wealth Partners LLC now owns 3,642 shares of the semiconductor company’s stock worth $488,000 after purchasing an additional 604 shares during the last quarter. Register Financial Advisors LLC purchased a new position in shares of Lam Research in the third quarter worth $283,000. Stiles Financial Services Inc grew its holdings in Lam Research by 2.6% in the 3rd quarter. Stiles Financial Services Inc now owns 53,495 shares of the semiconductor company’s stock worth $7,163,000 after acquiring an additional 1,373 shares during the last quarter. Stock Yards Bank & Trust Co. increased its position in shares of Lam Research by 7.2% in the third quarter. Stock Yards Bank & Trust Co. now owns 3,911 shares of the semiconductor company’s stock valued at $524,000 after acquiring an additional 262 shares during the period. Finally, Mitchell Mcleod Pugh & Williams Inc. purchased a new stake in Lam Research in the 3rd quarter worth approximately $251,000. Institutional investors own 84.61% of the company’s stock.

Lam Research Trading Up 2.7%

LRCX opened at $228.39 on Thursday. The firm has a market cap of $286.86 billion, a P/E ratio of 50.31, a P/E/G ratio of 2.55 and a beta of 1.77. The stock has a 50-day moving average of $175.34 and a 200 day moving average of $139.90. Lam Research Corporation has a 12 month low of $56.32 and a 12 month high of $232.90. The company has a current ratio of 2.21, a quick ratio of 1.60 and a debt-to-equity ratio of 0.37.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, October 22nd. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.04. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.23 billion. Lam Research had a return on equity of 60.60% and a net margin of 29.66%.Lam Research’s quarterly revenue was up 27.7% compared to the same quarter last year. During the same period last year, the company earned $0.86 EPS. As a group, research analysts forecast that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 7th. Shareholders of record on Wednesday, December 3rd were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, December 3rd. Lam Research’s dividend payout ratio (DPR) is 22.91%.

Wall Street Analyst Weigh In

Several research analysts have commented on LRCX shares. BNP Paribas Exane upped their price objective on shares of Lam Research from $80.00 to $140.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. JPMorgan Chase & Co. raised their price objective on Lam Research from $113.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Zacks Research upgraded shares of Lam Research from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Oppenheimer set a $200.00 target price on shares of Lam Research and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Finally, Rothschild & Co Redburn raised their price target on Lam Research from $150.00 to $225.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $196.33.

Insider Buying and Selling at Lam Research

In related news, CFO Douglas R. Bettinger sold 40,080 shares of Lam Research stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $150.60, for a total transaction of $6,036,048.00. Following the completion of the transaction, the chief financial officer directly owned 987,237 shares in the company, valued at approximately $148,677,892.20. This trade represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bethany Mayer sold 1,298 shares of Lam Research stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $159.99, for a total transaction of $207,667.02. Following the completion of the sale, the director directly owned 1,652 shares in the company, valued at $264,303.48. This represents a 44.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 50,418 shares of company stock worth $7,667,305 over the last quarter. Insiders own 0.31% of the company’s stock.

Lam Research Company Profile

Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.

Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.