KBC Group NV Sells 36,158 Shares of Lam Research Co. (NASDAQ:LRCX)

KBC Group NV decreased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 20.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 136,467 shares of the semiconductor company’s stock after selling 36,158 shares during the quarter. KBC Group NV’s holdings in Lam Research were worth $111,368,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of LRCX. Van ECK Associates Corp lifted its stake in shares of Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after purchasing an additional 15,005,178 shares during the period. Foster Victor Wealth Advisors LLC grew its stake in shares of Lam Research by 994.1% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company’s stock worth $190,066,000 after buying an additional 211,614 shares in the last quarter. Swedbank AB bought a new position in shares of Lam Research in the 1st quarter valued at about $192,668,000. Vanguard Group Inc. increased its stake in Lam Research by 1.2% during the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after acquiring an additional 144,914 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Lam Research by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after purchasing an additional 142,903 shares during the period. Institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

LRCX has been the topic of several recent research reports. Morgan Stanley decreased their price target on Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Wells Fargo & Company dropped their price target on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price objective (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. BNP Paribas upgraded Lam Research to a “hold” rating in a report on Thursday, October 24th. Finally, TD Cowen increased their target price on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $97.03.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by insiders.

Lam Research Price Performance

Shares of LRCX opened at $73.85 on Thursday. The stock’s 50 day moving average is $77.42 and its two-hundred day moving average is $88.34. Lam Research Co. has a twelve month low of $68.39 and a twelve month high of $113.00. The firm has a market capitalization of $95.02 billion, a PE ratio of 23.87, a P/E/G ratio of 1.20 and a beta of 1.48. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the prior year, the company earned $6.85 earnings per share. Lam Research’s revenue was up 19.7% compared to the same quarter last year. Research analysts anticipate that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.74%.

Lam Research Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.