Prospera Financial Services Inc Sells 4,257 Shares of Lam Research Co. (NASDAQ:LRCX)

Prospera Financial Services Inc trimmed its position in shares of Lam Research Co. (NASDAQ:LRCX) by 85.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 721 shares of the semiconductor company’s stock after selling 4,257 shares during the quarter. Prospera Financial Services Inc’s holdings in Lam Research were worth $589,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of LRCX. Fortitude Family Office LLC raised its stake in Lam Research by 16.7% in the second quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock worth $67,000 after buying an additional 9 shares in the last quarter. Thomasville National Bank grew its holdings in Lam Research by 1.5% in the second quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock worth $865,000 after purchasing an additional 12 shares during the period. Ignite Planners LLC grew its holdings in Lam Research by 2.8% in the second quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock worth $484,000 after purchasing an additional 12 shares during the period. U.S. Capital Wealth Advisors LLC grew its holdings in Lam Research by 3.7% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock worth $357,000 after purchasing an additional 12 shares during the period. Finally, RFP Financial Group LLC grew its holdings in Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares during the period. 84.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on LRCX shares. TD Cowen upped their price objective on shares of Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. UBS Group cut their price objective on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Stifel Nicolaus restated a “buy” rating and issued a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. B. Riley cut their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $97.97.

Insiders Place Their Bets

In other Lam Research news, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

Lam Research Stock Down 0.7 %

Shares of Lam Research stock opened at $72.64 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. Lam Research Co. has a twelve month low of $68.72 and a twelve month high of $113.00. The company has a market cap of $93.47 billion, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 1.16 and a beta of 1.48. The company’s 50 day moving average is $76.93 and its 200 day moving average is $87.32.

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

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be given a $0.23 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.27%. Lam Research’s payout ratio is presently 29.74%.

Lam Research Company Profile

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.