Greenleaf Trust Sells 2,104 Shares of Lam Research Corporation $LRCX

Greenleaf Trust cut its holdings in Lam Research Corporation (NASDAQ:LRCX) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,762 shares of the semiconductor company’s stock after selling 2,104 shares during the period. Greenleaf Trust’s holdings in Lam Research were worth $16,347,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LRCX. State Street Corp boosted its holdings in shares of Lam Research by 2.6% during the 2nd quarter. State Street Corp now owns 60,704,130 shares of the semiconductor company’s stock valued at $26,320,468,000 after buying an additional 1,545,830 shares in the last quarter. Bank of America Corp DE increased its position in shares of Lam Research by 5.5% during the 2nd quarter. Bank of America Corp DE now owns 11,244,147 shares of the semiconductor company’s stock valued at $4,872,426,000 after purchasing an additional 584,489 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Lam Research by 411.8% in the second quarter. Van ECK Associates Corp now owns 11,089,395 shares of the semiconductor company’s stock worth $4,805,368,000 after buying an additional 8,922,854 shares during the last quarter. Amundi increased its holdings in Lam Research by 23.7% during the first quarter. Amundi now owns 10,147,479 shares of the semiconductor company’s stock valued at $2,168,107,000 after buying an additional 1,942,862 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in Lam Research by 2.0% in the first quarter. Janus Henderson Group PLC now owns 9,265,026 shares of the semiconductor company’s stock worth $1,975,244,000 after acquiring an additional 181,087 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LRCX. HSBC reiterated a “hold” rating and issued a $333.00 price target on shares of Lam Research in a research report on Monday, July 27th. Jefferies Financial Group set a $335.00 price objective on Lam Research and gave the stock a “buy” rating in a research note on Thursday, July 30th. Evercore set a $315.00 target price on shares of Lam Research in a report on Tuesday, October 20th. Zacks Research lowered Lam Research from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 22nd. Finally, Berenberg Bank set a $420.00 price target on Lam Research in a report on Wednesday, September 9th. Twenty-six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $360.23.

Insiders Place Their Bets

In related news, insider Ava Harter sold 5,000 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $302.46, for a total transaction of $1,512,300.00. Following the sale, the insider directly owned 42,462 shares of the company’s stock, valued at approximately $12,843,056.52. This represents a 10.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bethany Mayer sold 9,557 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the sale, the director owned 20,995 shares in the company, valued at approximately $6,607,966.30. This represents a 31.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.31% of the company’s stock.

Lam Research Price Performance

Shares of LRCX stock opened at $239.11 on Monday. Lam Research Corporation has a twelve month low of $135.50 and a twelve month high of $438.50. The stock has a fifty day simple moving average of $294.47 and a two-hundred day simple moving average of $283.78. The stock has a market capitalization of $298.69 billion, a price-to-earnings ratio of 35.63, a P/E/G ratio of 0.89 and a beta of 1.97. The company has a current ratio of 2.48, a quick ratio of 1.86 and a debt-to-equity ratio of 0.27.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.02. Lam Research had a net margin of 32.34% and a return on equity of 72.15%. The business had revenue of $8.22 billion for the quarter, compared to analysts’ expectations of $8.14 billion. During the same period last year, the business earned $1.26 EPS. The company’s revenue was up 54.4% compared to the same quarter last year. On average, analysts predict that Lam Research Corporation will post 9.59 EPS for the current fiscal year.

Lam Research Increases Dividend

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

Lam Research Profile

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.