Lam Research Co. (NASDAQ:LRCX) Position Decreased by OLD National Bancorp IN

OLD National Bancorp IN reduced its holdings in Lam Research Co. (NASDAQ:LRCX) by 14.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 956 shares of the semiconductor company’s stock after selling 159 shares during the quarter. OLD National Bancorp IN’s holdings in Lam Research were worth $780,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Fortitude Family Office LLC raised its stake in shares of Lam Research by 16.7% in the second quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock valued at $67,000 after acquiring an additional 9 shares during the last quarter. Thomasville National Bank raised its position in Lam Research by 1.5% in the 2nd quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock valued at $865,000 after purchasing an additional 12 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its stake 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 in the last quarter. Ignite Planners LLC grew its holdings in shares of Lam Research by 2.8% during 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 last quarter. Finally, RFP Financial Group LLC increased its stake in shares of Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on LRCX. Morgan Stanley lowered their price objective on shares of Lam Research from $92.90 to $77.40 and set an “equal weight” rating for the company in a research report on Tuesday, September 17th. Cantor Fitzgerald dropped their price objective on shares of Lam Research from $120.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, September 30th. UBS Group reduced their price objective on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Mizuho lowered their target price on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Finally, 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 research note on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $141.28.

Insider Buying and Selling

In other news, CAO Christina Correia sold 647 shares of the company’s 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 completion of the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is owned by company insiders.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $72.84 on Tuesday. The company has a 50 day moving average price of $79.99 and a two-hundred day moving average price of $90.26. The company has a market capitalization of $9.52 billion, a PE ratio of 2.68, a PEG ratio of 1.75 and a beta of 1.47. Lam Research Co. has a 52 week low of $57.44 and a 52 week high of $113.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.76 by $0.05. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter last year, the business posted $0.60 EPS. The firm’s revenue was up 20.7% compared to the same quarter last year. Analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were given a $0.23 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.26%. Lam Research’s dividend payout ratio is presently 3.38%.

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.