Mission Wealth Management LP Cuts Stake in Lam Research Co. (NASDAQ:LRCX)

Mission Wealth Management LP reduced its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 10.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 723 shares of the semiconductor company’s stock after selling 80 shares during the period. Mission Wealth Management LP’s holdings in Lam Research were worth $240,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Public Employees Retirement Association of Colorado raised its holdings in Lam Research by 3.2% in the first quarter. Public Employees Retirement Association of Colorado now owns 27,773 shares of the semiconductor company’s stock valued at $6,666,000 after buying an additional 861 shares during the period. AXA raised its holdings in Lam Research by 61.7% in the first quarter. AXA now owns 140,696 shares of the semiconductor company’s stock valued at $33,767,000 after buying an additional 53,673 shares during the period. Tower Research Capital LLC TRC raised its holdings in Lam Research by 2,261.6% in the first quarter. Tower Research Capital LLC TRC now owns 2,645 shares of the semiconductor company’s stock valued at $635,000 after buying an additional 2,533 shares during the period. Squarepoint Ops LLC raised its holdings in Lam Research by 62.1% in the first quarter. Squarepoint Ops LLC now owns 14,411 shares of the semiconductor company’s stock valued at $3,459,000 after buying an additional 5,519 shares during the period. Finally, Engineers Gate Manager LP purchased a new position in Lam Research in the first quarter valued at approximately $709,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Lam Research stock opened at $364.96 on Friday. The company has a market cap of $52.95 billion, a PE ratio of 24.12, a P/E/G ratio of 1.35 and a beta of 1.23. The company has a fifty day moving average price of $332.11 and a two-hundred day moving average price of $310.52. The company has a debt-to-equity ratio of 0.96, a current ratio of 3.43 and a quick ratio of 2.83. Lam Research Co. has a 12 month low of $181.38 and a 12 month high of $387.70.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $4.78 EPS for the quarter, topping analysts’ consensus estimates of $4.20 by $0.58. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.68 billion. Lam Research had a net margin of 22.42% and a return on equity of 49.69%. The firm’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.62 earnings per share. Equities research analysts anticipate that Lam Research Co. will post 20.68 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Tuesday, September 29th. This is an increase from Lam Research’s previous quarterly dividend of $1.15. Lam Research’s payout ratio is currently 32.60%.

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Lam Research from $350.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Barclays increased their price objective on shares of Lam Research from $315.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. Royal Bank of Canada increased their price objective on shares of Lam Research from $300.00 to $400.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th. Stifel Nicolaus raised shares of Lam Research from a “hold” rating to a “buy” rating and set a $352.00 price objective for the company in a research report on Sunday, September 20th. Finally, 140166 reaffirmed a “buy” rating and issued a $425.00 price objective (up previously from $330.00) on shares of Lam Research in a research report on Wednesday, July 29th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $376.38.

In other Lam Research news, CEO Timothy Archer sold 15,540 shares of the firm’s stock in a transaction on Monday, October 12th. The stock was sold at an average price of $370.00, for a total value of $5,749,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Richard A. Gottscho sold 5,293 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $384.52, for a total value of $2,035,264.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,111 shares of company stock valued at $17,753,830. 0.34% of the stock is currently owned by corporate insiders.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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