Keybank National Association OH decreased its stake in Lam Research Co. (NASDAQ:LRCX) by 68.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,312 shares of the semiconductor company’s stock after selling 4,939 shares during the quarter. Keybank National Association OH’s holdings in Lam Research were worth $434,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Global Retirement Partners LLC grew its position in shares of Lam Research by 119.4% during the first quarter. Global Retirement Partners LLC now owns 147 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 80 shares in the last quarter. Zions Bancorporation N.A. purchased a new stake in shares of Lam Research during the first quarter worth about $28,000. Hexavest Inc. purchased a new stake in shares of Lam Research during the second quarter worth about $28,000. Strategy Asset Managers LLC purchased a new stake in shares of Lam Research during the first quarter worth about $33,000. Finally, Stevens First Principles Investment Advisors purchased a new stake in shares of Lam Research during the first quarter worth about $36,000. Institutional investors and hedge funds own 87.19% of the company’s stock.

Several research firms recently issued reports on LRCX. BidaskClub upgraded Lam Research from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Deutsche Bank raised their price target on Lam Research from $180.00 to $195.00 and gave the company a “hold” rating in a report on Thursday, April 25th. DA Davidson cut Lam Research from a “buy” rating to a “neutral” rating and cut their price target for the company from $225.00 to $200.00 in a report on Monday, July 8th. Cowen restated an “outperform” rating and set a $235.00 price target (up previously from $223.00) on shares of Lam Research in a report on Thursday, April 25th. Finally, UBS Group raised their price target on Lam Research from $170.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $224.69.

In other Lam Research news, insider Seshasayee Varadarajan sold 20,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $200.00, for a total transaction of $4,000,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Abhijit Y. Talwalkar sold 3,987 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $210.00, for a total value of $837,270.00. The disclosure for this sale can be found here. Insiders sold a total of 25,109 shares of company stock valued at $5,072,969 over the last ninety days. Corporate insiders own 0.44% of the company’s stock.

NASDAQ:LRCX opened at $208.60 on Wednesday. The firm has a market capitalization of $31.00 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 1.26 and a beta of 1.61. Lam Research Co. has a 1 year low of $122.64 and a 1 year high of $218.49. The business has a 50 day simple moving average of $198.32 and a 200-day simple moving average of $188.22. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.61 and a quick ratio of 2.96.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $3.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.22. The business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.37 billion. Lam Research had a return on equity of 43.82% and a net margin of 22.70%. The company’s revenue for the quarter was down 24.5% on a year-over-year basis. During the same period last year, the company earned $5.31 EPS. As a group, analysts expect that Lam Research Co. will post 13.57 earnings per share for the current fiscal year.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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

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