Lam Research Co. (NASDAQ:LRCX) Stock Position Reduced by Cozad Asset Management Inc.

Cozad Asset Management Inc. lessened its position in shares of Lam Research Co. (NASDAQ:LRCX) by 2.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,209 shares of the semiconductor company’s stock after selling 360 shares during the period. Lam Research comprises 1.2% of Cozad Asset Management Inc.’s portfolio, making the stock its 20th largest position. Cozad Asset Management Inc.’s holdings in Lam Research were worth $12,412,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of LRCX. M&G PLC lifted its holdings in shares of Lam Research by 21.9% in the 3rd quarter. M&G PLC now owns 24,662 shares of the semiconductor company’s stock worth $20,124,000 after purchasing an additional 4,431 shares during the last quarter. Foster & Motley Inc. bought a new stake in shares of Lam Research in the 3rd quarter worth approximately $591,000. Crestwood Advisors Group LLC lifted its holdings in shares of Lam Research by 2,112.7% in the 3rd quarter. Crestwood Advisors Group LLC now owns 28,389 shares of the semiconductor company’s stock worth $23,168,000 after purchasing an additional 27,106 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Lam Research by 2.7% in the 3rd quarter. Amalgamated Bank now owns 28,843 shares of the semiconductor company’s stock worth $23,538,000 after purchasing an additional 745 shares during the last quarter. Finally, Roman Butler Fullerton & Co. lifted its holdings in shares of Lam Research by 1,252.2% in the 3rd quarter. Roman Butler Fullerton & Co. now owns 9,384 shares of the semiconductor company’s stock worth $7,658,000 after purchasing an additional 8,690 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Insider Transactions at Lam Research

In related news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction 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 completion of the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LRCX has been the topic of several recent research reports. BNP Paribas raised Lam Research to a “hold” rating in a report on Thursday, October 24th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Citigroup cut their price target on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft cut their price target on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Finally, B. Riley cut their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $76.78 on Thursday. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $98.79 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 1.18 and a beta of 1.48. The stock’s fifty day simple moving average is $77.73 and its 200 day simple moving average is $88.66. Lam Research Co. has a 52-week low of $63.67 and a 52-week high of $113.00.

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

Lam Research Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.20%. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

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.