Lam Research Co. (LRCX) Holdings Lowered by IFP Advisors Inc

IFP Advisors Inc trimmed its position in Lam Research Co. (NASDAQ:LRCX) by 31.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,043 shares of the semiconductor company’s stock after selling 479 shares during the quarter. IFP Advisors Inc’s holdings in Lam Research were worth $158,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in LRCX. Independent Advisor Alliance lifted its position in shares of Lam Research by 21.0% in the second quarter. Independent Advisor Alliance now owns 1,574 shares of the semiconductor company’s stock worth $244,000 after purchasing an additional 273 shares in the last quarter. BerganKDV Wealth Management LLC lifted its position in shares of Lam Research by 7.0% in the second quarter. BerganKDV Wealth Management LLC now owns 4,458 shares of the semiconductor company’s stock worth $770,000 after purchasing an additional 292 shares in the last quarter. HGK Asset Management Inc. lifted its position in shares of Lam Research by 8.9% in the second quarter. HGK Asset Management Inc. now owns 3,686 shares of the semiconductor company’s stock worth $637,000 after purchasing an additional 300 shares in the last quarter. Bollard Group LLC lifted its position in shares of Lam Research by 43.0% in the second quarter. Bollard Group LLC now owns 1,005 shares of the semiconductor company’s stock worth $174,000 after purchasing an additional 302 shares in the last quarter. Finally, Stephens Inc. AR lifted its position in shares of Lam Research by 5.6% in the second quarter. Stephens Inc. AR now owns 5,669 shares of the semiconductor company’s stock worth $980,000 after purchasing an additional 303 shares in the last quarter. Institutional investors own 89.79% of the company’s stock.

A number of research firms have recently issued reports on LRCX. Evercore ISI reduced their price target on shares of Lam Research to $240.00 and set an “outperform” rating for the company in a research report on Tuesday, July 17th. BidaskClub lowered shares of Lam Research from a “hold” rating to a “sell” rating in a research report on Wednesday, August 15th. Mizuho lowered shares of Lam Research from a “buy” rating to a “neutral” rating in a research report on Monday, October 1st. Deutsche Bank reissued a “hold” rating and issued a $170.00 price target (down from $230.00) on shares of Lam Research in a research report on Monday, October 1st. Finally, ValuEngine lowered shares of Lam Research from a “hold” rating to a “sell” rating in a research report on Saturday, August 18th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $224.22.

Shares of LRCX stock opened at $147.85 on Friday. Lam Research Co. has a 12 month low of $133.42 and a 12 month high of $234.88. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.00 and a current ratio of 2.66. The company has a market cap of $23.54 billion, a price-to-earnings ratio of 8.52, a P/E/G ratio of 0.88 and a beta of 1.30.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Tuesday, October 16th. The semiconductor company reported $3.36 EPS for the quarter, beating the consensus estimate of $3.22 by $0.14. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.31 billion. Lam Research had a return on equity of 49.80% and a net margin of 21.26%. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $3.46 earnings per share. On average, sell-side analysts anticipate that Lam Research Co. will post 14.37 earnings per share for the current fiscal year.

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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.

Further Reading: How is Preferred Stock Different from Common Stock?

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

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