Lam Research Corporation $LRCX Stock Sold by Modera Wealth Management LLC

Modera Wealth Management LLC reduced its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 8.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,598 shares of the semiconductor company’s stock after selling 4,988 shares during the quarter. Modera Wealth Management LLC’s holdings in Lam Research were worth $17,936,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in LRCX. World Equity Group Inc. boosted its stake in shares of Lam Research by 0.5% during the 2nd quarter. World Equity Group Inc. now owns 5,576 shares of the semiconductor company’s stock valued at $2,416,000 after purchasing an additional 29 shares in the last quarter. Vann Equity Management LLC increased its position in shares of Lam Research by 1.1% during the third quarter. Vann Equity Management LLC now owns 2,873 shares of the semiconductor company’s stock valued at $944,000 after buying an additional 31 shares during the period. Tenzing Financial LLC raised its stake in Lam Research by 3.5% in the second quarter. Tenzing Financial LLC now owns 1,018 shares of the semiconductor company’s stock worth $441,000 after buying an additional 34 shares in the last quarter. Advus Financial Partners LLC raised its stake in Lam Research by 1.0% in the second quarter. Advus Financial Partners LLC now owns 3,578 shares of the semiconductor company’s stock worth $1,550,000 after buying an additional 34 shares in the last quarter. Finally, Paragon Private Wealth Management LLC lifted its holdings in Lam Research by 1.3% in the second quarter. Paragon Private Wealth Management LLC now owns 2,719 shares of the semiconductor company’s stock worth $1,178,000 after buying an additional 35 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Lam Research Price Performance

LRCX opened at $239.11 on Friday. The stock has a 50-day moving average price of $294.47 and a 200-day moving average price of $283.78. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.48 and a quick ratio of 1.86. The firm has a market cap of $298.69 billion, a PE ratio of 35.63, a P/E/G ratio of 0.94 and a beta of 1.85. Lam Research Corporation has a 1 year low of $135.50 and a 1 year high of $438.50.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, October 21st. The semiconductor company reported $2.20 EPS for the quarter, beating the consensus estimate of $2.18 by $0.02. Lam Research had a net margin of 32.34% and a return on equity of 72.15%. The company had revenue of $8.22 billion for the quarter, compared to the consensus estimate of $8.14 billion. During the same period in the prior year, the firm posted $1.26 EPS. Lam Research’s revenue for the quarter was up 54.4% on a year-over-year basis. Sell-side analysts predict that Lam Research Corporation will post 9.59 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 23rd were paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, September 23rd. This represents a $1.32 annualized dividend and a yield of 0.6%. This is a positive change from Lam Research’s previous quarterly dividend of $0.26. Lam Research’s dividend payout ratio (DPR) is 19.67%.

Analyst Ratings Changes

Several analysts have weighed in on LRCX shares. B. Riley Financial lifted their price objective on Lam Research from $350.00 to $390.00 and gave the company a “buy” rating in a research report on Thursday, October 1st. Zacks Research lowered Lam Research from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 22nd. TD Cowen restated a “buy” rating and issued a $400.00 target price (up from $340.00) on shares of Lam Research in a research note on Thursday, July 9th. Wall Street Zen upgraded Lam Research from a “hold” rating to a “buy” rating in a research note on Saturday, October 24th. Finally, UBS Group restated a “buy” rating and set a $400.00 price target (down from $425.00) on shares of Lam Research in a research report on Thursday, October 22nd. Twenty-six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $360.23.

Insiders Place Their Bets

In other Lam Research news, Director Bethany Mayer sold 9,557 shares of Lam Research stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $314.74, for a total value of $3,007,970.18. Following the completion of the sale, the director owned 20,995 shares of the company’s stock, valued at approximately $6,607,966.30. This trade represents a 31.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ava Harter sold 5,000 shares of the business’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $302.46, for a total value of $1,512,300.00. Following the completion of the transaction, the insider owned 42,462 shares of the company’s stock, valued at $12,843,056.52. This represents a 10.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.31% of the stock is currently owned by company insiders.

About Lam Research

Lam Research Corporation (NASDAQ:LRCX) is a semiconductor equipment company that develops and manufactures systems used to fabricate integrated circuits. Its technologies support key stages of wafer processing, helping semiconductor manufacturers create the increasingly complex structures found in memory, logic and other types of chips.

The company’s product portfolio includes etch systems, which selectively remove materials from wafers; deposition systems, which apply thin films; and cleaning solutions used to remove contaminants and residue during manufacturing.