Lam Research Corporation $LRCX Stock Sold by Profund Advisors LLC

Profund Advisors LLC lessened its stake in Lam Research Corporation (NASDAQ:LRCX) by 9.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 157,595 shares of the semiconductor company’s stock after selling 16,161 shares during the quarter. Lam Research comprises 1.5% of Profund Advisors LLC’s portfolio, making the stock its 13th largest holding. Profund Advisors LLC’s holdings in Lam Research were worth $51,772,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in LRCX. World Equity Group Inc. raised its stake in shares of Lam Research by 0.5% during the 2nd quarter. World Equity Group Inc. now owns 5,576 shares of the semiconductor company’s stock worth $2,416,000 after buying an additional 29 shares in the last quarter. Vann Equity Management LLC raised its position in shares of Lam Research by 1.1% during the 3rd quarter. Vann Equity Management LLC now owns 2,873 shares of the semiconductor company’s stock worth $944,000 after purchasing an additional 31 shares during the last quarter. Tenzing Financial LLC raised its stake in Lam Research by 3.5% in the 2nd quarter. Tenzing Financial LLC now owns 1,018 shares of the semiconductor company’s stock valued at $441,000 after purchasing an additional 34 shares during the last quarter. Advus Financial Partners LLC boosted its position in Lam Research by 1.0% during the second quarter. Advus Financial Partners LLC now owns 3,578 shares of the semiconductor company’s stock worth $1,550,000 after acquiring an additional 34 shares during the last quarter. Finally, Paragon Private Wealth Management LLC grew its holdings in Lam Research by 1.3% in the 2nd quarter. Paragon Private Wealth Management LLC now owns 2,719 shares of the semiconductor company’s stock valued at $1,178,000 after buying an additional 35 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Down 6.0%

Shares of NASDAQ LRCX opened at $239.11 on Friday. The stock’s fifty day moving average is $294.47 and its 200 day moving average is $283.78. Lam Research Corporation has a 52 week low of $135.50 and a 52 week high of $438.50. The stock has a market capitalization of $298.69 billion, a P/E ratio of 35.63, a PEG ratio of 0.89 and a beta of 1.85. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.86 and a current ratio of 2.48.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.02. Lam Research had a net margin of 32.34% and a return on equity of 72.15%. The firm had revenue of $8.22 billion during the quarter, compared to analyst estimates of $8.14 billion. During the same quarter in the prior year, the business posted $1.26 EPS. The business’s revenue was up 54.4% compared to the same quarter last year. Sell-side analysts forecast that Lam Research Corporation will post 9.59 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Wednesday, September 23rd were paid a $0.33 dividend. The ex-dividend date was Wednesday, September 23rd. This represents a $1.32 annualized dividend and a dividend yield of 0.6%. This is an increase from Lam Research’s previous quarterly dividend of $0.26. Lam Research’s dividend payout ratio (DPR) is presently 19.67%.

Analyst Upgrades and Downgrades

LRCX has been the subject of a number of research analyst reports. Fundamental Research set a $390.00 price target on shares of Lam Research in a research note on Thursday, October 1st. Zacks Research downgraded shares of Lam Research from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 22nd. Morgan Stanley set a $339.00 target price on Lam Research and gave the company an “overweight” rating in a research note on Thursday, October 22nd. Berenberg Bank set a $420.00 target price on Lam Research in a research report on Wednesday, September 9th. Finally, Mizuho decreased their price target on shares of Lam Research from $365.00 to $360.00 and set an “outperform” rating on the stock in a research report on Thursday, October 22nd. Twenty-six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and a consensus price target of $360.23.

Insider Buying and Selling at Lam Research

In related news, Director Bethany Mayer sold 9,557 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the completion of the sale, the director directly owned 20,995 shares in the company, valued at approximately $6,607,966.30. This trade represents a 31.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ava Harter sold 5,000 shares of the company’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $302.46, for a total value of $1,512,300.00. Following the sale, the insider owned 42,462 shares in the company, valued at approximately $12,843,056.52. This trade represents a 10.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.31% of the stock is currently owned by corporate insiders.

Lam Research Company Profile

Lam Research Corporation (NASDAQ:LRCX) is a semiconductor equipment company that develops and manufactures systems used to fabricate integrated circuits. Its technologies support key stages of wafer processing, helping semiconductor manufacturers create the increasingly complex structures found in memory, logic and other types of chips.

The company’s product portfolio includes etch systems, which selectively remove materials from wafers; deposition systems, which apply thin films; and cleaning solutions used to remove contaminants and residue during manufacturing.