Lam Research Co. (NASDAQ:LRCX) Shares Sold by Financial Gravity Asset Management Inc.

Financial Gravity Asset Management Inc. trimmed its holdings in shares of Lam Research Co. (NASDAQ:LRCXGet Rating) by 14.1% in the third quarter, Holdings Channel reports. The firm owned 732 shares of the semiconductor company’s stock after selling 120 shares during the period. Financial Gravity Asset Management Inc.’s holdings in Lam Research were worth $177,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of LRCX. Price T Rowe Associates Inc. MD increased its position in shares of Lam Research by 345.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,224,808 shares of the semiconductor company’s stock valued at $521,952,000 after acquiring an additional 949,749 shares during the last quarter. Artisan Partners Limited Partnership acquired a new stake in Lam Research in the 2nd quarter valued at approximately $358,611,000. Sands Capital Management LLC raised its position in Lam Research by 43.0% in the second quarter. Sands Capital Management LLC now owns 1,877,199 shares of the semiconductor company’s stock valued at $799,968,000 after purchasing an additional 564,607 shares during the period. Van ECK Associates Corp lifted its stake in Lam Research by 12.5% during the second quarter. Van ECK Associates Corp now owns 1,073,482 shares of the semiconductor company’s stock worth $457,464,000 after purchasing an additional 119,608 shares in the last quarter. Finally, WCM Investment Management LLC boosted its position in shares of Lam Research by 11.3% during the third quarter. WCM Investment Management LLC now owns 846,603 shares of the semiconductor company’s stock worth $313,709,000 after buying an additional 85,823 shares during the period. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Performance

Shares of LRCX opened at $490.78 on Tuesday. The company has a market capitalization of $66.93 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 1.93 and a beta of 1.42. Lam Research Co. has a 52-week low of $299.59 and a 52-week high of $623.24. The company has a quick ratio of 1.83, a current ratio of 2.69 and a debt-to-equity ratio of 0.67. The stock has a 50 day moving average price of $448.83 and a 200 day moving average price of $435.39.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 4th. Investors of record on Wednesday, December 14th were given a $1.725 dividend. This represents a $6.90 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Tuesday, December 13th. Lam Research’s dividend payout ratio (DPR) is 19.79%.

Insider Buying and Selling

In other Lam Research news, Director Abhijit Y. Talwalkar sold 880 shares of the company’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $429.72, for a total value of $378,153.60. Following the completion of the transaction, the director now owns 14,762 shares in the company, valued at $6,343,526.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lam Research news, EVP Richard A. Gottscho sold 3,540 shares of the firm’s stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $450.00, for a total transaction of $1,593,000.00. Following the transaction, the executive vice president now directly owns 26,672 shares of the company’s stock, valued at approximately $12,002,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Abhijit Y. Talwalkar sold 880 shares of Lam Research stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $429.72, for a total transaction of $378,153.60. Following the completion of the transaction, the director now owns 14,762 shares in the company, valued at $6,343,526.64. The disclosure for this sale can be found here. Insiders have sold 4,420 shares of company stock worth $1,971,154 in the last ninety days. 0.35% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

LRCX has been the topic of several research analyst reports. Cowen cut their price objective on Lam Research to $430.00 in a report on Thursday, October 20th. Stifel Nicolaus assumed coverage on shares of Lam Research in a research note on Tuesday, January 17th. They set a “hold” rating and a $495.00 price target on the stock. UBS Group raised their price objective on shares of Lam Research from $450.00 to $530.00 and gave the company a “buy” rating in a research note on Wednesday, November 30th. Sanford C. Bernstein cut their target price on shares of Lam Research to $425.00 in a research note on Thursday, October 20th. Finally, Mizuho raised their price target on shares of Lam Research from $400.00 to $500.00 and gave the company a “buy” rating in a research report on Tuesday, January 17th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $492.27.

Lam Research Company Profile

(Get Rating)

Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.

Further Reading

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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