Simplicity Wealth LLC Lowers Stock Holdings in Lam Research Corporation $LRCX

Simplicity Wealth LLC reduced its stake in Lam Research Corporation (NASDAQ:LRCX) by 51.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,163 shares of the semiconductor company’s stock after selling 32,151 shares during the period. Simplicity Wealth LLC’s holdings in Lam Research were worth $4,039,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. IMG Wealth Management Inc. purchased a new position in Lam Research in the second quarter worth $26,000. Howard Hughes Medical Institute purchased a new position in shares of Lam Research in the 2nd quarter worth $27,000. Strategic Wealth Investment Group LLC purchased a new stake in Lam Research during the 2nd quarter worth $29,000. Delos Wealth Advisors LLC acquired a new stake in shares of Lam Research during the second quarter valued at about $30,000. Finally, REAP Financial Group LLC bought a new stake in shares of Lam Research in the second quarter worth $31,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LRCX has been the topic of several recent research reports. New Street Research lifted their price objective on shares of Lam Research from $105.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Oppenheimer set a $200.00 price objective on shares of Lam Research and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Stifel Nicolaus upped their price objective on shares of Lam Research from $160.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, January 14th. JPMorgan Chase & Co. lifted their target price on Lam Research from $113.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Finally, Royal Bank Of Canada set a $260.00 target price on Lam Research in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and an average target price of $196.33.

Insider Activity at Lam Research

In related news, Director Bethany Mayer sold 1,298 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $159.99, for a total value of $207,667.02. Following the sale, the director directly owned 1,652 shares in the company, valued at $264,303.48. This trade represents a 44.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ava Harter sold 9,010 shares of Lam Research stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $157.47, for a total transaction of $1,418,804.70. Following the transaction, the insider directly owned 56,786 shares in the company, valued at $8,942,091.42. The trade was a 13.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 50,418 shares of company stock worth $7,667,305. 0.31% of the stock is owned by insiders.

Lam Research Stock Performance

LRCX stock opened at $228.39 on Thursday. The company has a 50 day moving average price of $175.34 and a 200 day moving average price of $139.90. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $232.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.21 and a quick ratio of 1.60. The stock has a market capitalization of $286.86 billion, a PE ratio of 50.31, a price-to-earnings-growth ratio of 2.55 and a beta of 1.77.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 22nd. The semiconductor company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.04. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.23 billion. Lam Research had a return on equity of 60.60% and a net margin of 29.66%.The firm’s quarterly revenue was up 27.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.86 earnings per share. Analysts forecast that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 7th. Shareholders of record on Wednesday, December 3rd were given a dividend of $0.26 per share. The ex-dividend date was Wednesday, December 3rd. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. Lam Research’s payout ratio is presently 22.91%.

About Lam Research

Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.

Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.