Quantbot Technologies LP Reduces Stake in Lam Research Co. (NASDAQ:LRCX)

Quantbot Technologies LP lowered its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 72.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,814 shares of the semiconductor company’s stock after selling 7,228 shares during the quarter. Quantbot Technologies LP’s holdings in Lam Research were worth $2,296,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Van ECK Associates Corp lifted its position in shares of Lam Research by 1,394.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after buying an additional 15,005,178 shares during the last quarter. Fisher Asset Management LLC boosted its position in Lam Research by 0.6% during the third quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company’s stock worth $1,527,273,000 after purchasing an additional 11,093 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Lam Research by 7.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock worth $1,335,522,000 after purchasing an additional 89,470 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Lam Research by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 822,599 shares of the semiconductor company’s stock valued at $671,307,000 after buying an additional 10,868 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Lam Research by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock worth $654,009,000 after buying an additional 25,362 shares during the period. 84.61% of the stock is owned by institutional investors.

Insider Activity at Lam Research

In other news, CAO Christina Correia sold 647 shares of Lam Research 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 sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The trade was a 13.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Analyst Ratings Changes

LRCX has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Morgan Stanley decreased their price target on Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Wells Fargo & Company decreased their target price on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Finally, BNP Paribas raised shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $97.97.

Lam Research Stock Performance

NASDAQ:LRCX opened at $71.57 on Friday. The firm has a market cap of $92.09 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The business has a 50 day moving average price of $76.62 and a 200-day moving average price of $86.79. Lam Research Co. has a fifty-two week low of $68.72 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its earnings results 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. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same period in the prior year, the business posted $6.85 earnings per share. Lam Research’s revenue for the quarter was up 19.7% on a year-over-year basis. Equities research analysts predict that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.29%. 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.