The Shell Asset Management Co. Sells 757 Shares of Lam Research Corp. (LRCX)

The Shell Asset Management Co. Sells 757 Shares of Lam Research Corp. (LRCX)

Shell Asset Management Co. cut its stake in shares of Lam Research Corp. (NASDAQ:LRCX) by 5.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 13,436 shares of the company’s stock after selling 757 shares during the period. Shell Asset Management Co.’s holdings in Lam Research Corp. were worth $1,273,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of LRCX. Great West Life Assurance Co. Can boosted its position in Lam Research Corp. by 2.6% in the third quarter. Great West Life Assurance Co. Can now owns 126,810 shares of the company’s stock valued at $12,002,000 after buying an additional 3,176 shares in the last quarter. Neville Rodie & Shaw Inc. boosted its position in Lam Research Corp. by 0.4% in the third quarter. Neville Rodie & Shaw Inc. now owns 55,091 shares of the company’s stock valued at $5,218,000 after buying an additional 214 shares in the last quarter. Hermes Investment Management Ltd. boosted its position in Lam Research Corp. by 45.6% in the third quarter. Hermes Investment Management Ltd. now owns 730,103 shares of the company’s stock valued at $69,148,000 after buying an additional 228,763 shares in the last quarter. K.J. Harrison & Partners Inc boosted its position in Lam Research Corp. by 75.0% in the third quarter. K.J. Harrison & Partners Inc now owns 7,000 shares of the company’s stock valued at $663,000 after buying an additional 3,000 shares in the last quarter. Finally, HL Financial Services LLC boosted its position in Lam Research Corp. by 84.6% in the third quarter. HL Financial Services LLC now owns 87,653 shares of the company’s stock valued at $8,302,000 after buying an additional 40,179 shares in the last quarter.

Shares of Lam Research Corp. (NASDAQ:LRCX) traded down 0.36% on Thursday, hitting $110.84. The stock had a trading volume of 1,870,361 shares. The company has a 50-day moving average of $106.40 and a 200 day moving average of $97.32. The company has a market capitalization of $18.05 billion, a price-to-earnings ratio of 22.00 and a beta of 1.49. Lam Research Corp. has a 52 week low of $63.10 and a 52 week high of $112.41.

Lam Research Corp. (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 19th. The company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.78 by $0.03. Lam Research Corp. had a return on equity of 18.43% and a net margin of 15.02%. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the company earned $1.82 EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities research analysts predict that Lam Research Corp. will post $8.38 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 4th. Investors of record on Wednesday, December 14th were given a dividend of $0.45 per share. This is a positive change from Lam Research Corp.’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Monday, December 12th. This represents a $1.80 annualized dividend and a dividend yield of 1.62%. Lam Research Corp.’s dividend payout ratio is presently 35.79%.

Several research firms recently issued reports on LRCX. Zacks Investment Research upgraded Lam Research Corp. from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a report on Monday. RBC Capital Markets reissued an “outperform” rating and issued a $120.00 target price (up previously from $110.00) on shares of Lam Research Corp. in a research note on Friday, January 13th. Royal Bank Of Canada increased their target price on Lam Research Corp. from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, January 13th. Goldman Sachs Group Inc. raised Lam Research Corp. from a “neutral” rating to a “buy” rating and increased their target price for the company from $116.00 to $125.00 in a research note on Monday, December 19th. Finally, Citigroup Inc. set a $123.00 target price on Lam Research Corp. and gave the company a “buy” rating in a research note on Tuesday, November 29th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Lam Research Corp. has a consensus rating of “Buy” and an average price target of $111.24.

In related news, CFO Douglas R. Bettinger sold 9,956 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $106.88, for a total transaction of $1,064,097.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Christine Heckart sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 29th. The stock was sold at an average price of $107.29, for a total value of $214,580.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,289 shares of company stock worth $5,396,702. 0.46% of the stock is owned by corporate insiders.

About Lam Research Corp.

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.

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