First Business Financial Services Inc. Sells 3,069 Shares of Lam Research Corporation $LRCX

First Business Financial Services Inc. reduced its stake in Lam Research Corporation (NASDAQ:LRCX) by 10.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,211 shares of the semiconductor company’s stock after selling 3,069 shares during the quarter. First Business Financial Services Inc.’s holdings in Lam Research were worth $3,510,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of LRCX. Vanguard Group Inc. increased its position in Lam Research by 1.1% in the second quarter. Vanguard Group Inc. now owns 130,609,265 shares of the semiconductor company’s stock worth $12,713,506,000 after buying an additional 1,457,163 shares in the last quarter. State Street Corp increased its holdings in Lam Research by 1.1% in the 2nd quarter. State Street Corp now owns 59,551,547 shares of the semiconductor company’s stock worth $5,810,172,000 after acquiring an additional 629,666 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Lam Research by 14.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 40,622,437 shares of the semiconductor company’s stock worth $3,954,188,000 after acquiring an additional 5,102,589 shares in the last quarter. Geode Capital Management LLC raised its stake in Lam Research by 3.5% during the 2nd quarter. Geode Capital Management LLC now owns 33,802,736 shares of the semiconductor company’s stock worth $3,280,484,000 after acquiring an additional 1,135,405 shares during the period. Finally, Norges Bank purchased a new position in Lam Research during the second quarter valued at approximately $1,894,585,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Zacks Research downgraded shares of Lam Research from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Dbs Bank increased their price target on Lam Research from $119.40 to $184.20 in a research note on Monday, October 27th. Needham & Company LLC restated a “buy” rating and issued a $250.00 price objective (up from $160.00) on shares of Lam Research in a research report on Tuesday. Stifel Nicolaus upped their price objective on Lam Research from $160.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $265.00 target price (up previously from $210.00) on shares of Lam Research in a research note on Thursday, January 8th. Twenty-seven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and a consensus target price of $196.33.

Insider Buying and Selling

In other Lam Research news, CFO Douglas R. Bettinger sold 40,080 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $150.60, for a total transaction of $6,036,048.00. Following the sale, the chief financial officer directly owned 987,237 shares of the company’s stock, valued at $148,677,892.20. The trade was a 3.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ava Harter sold 9,010 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $157.47, for a total value of $1,418,804.70. Following the sale, the insider owned 56,786 shares in the company, valued at approximately $8,942,091.42. This trade represents a 13.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 50,418 shares of company stock worth $7,667,305. Corporate insiders own 0.31% of the company’s stock.

Lam Research Trading Up 2.7%

LRCX stock opened at $228.39 on Thursday. The firm has a fifty day moving average price of $175.34 and a 200 day moving average price of $139.90. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $232.90. The firm has a market cap of $286.86 billion, a PE ratio of 50.31, a price-to-earnings-growth ratio of 2.55 and a beta of 1.77. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.60 and a current ratio of 2.21.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 22nd. The semiconductor company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.22 by $0.04. Lam Research had a net margin of 29.66% and a return on equity of 60.60%. The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.23 billion. During the same quarter last year, the business earned $0.86 earnings per share. Lam Research’s quarterly revenue was up 27.7% compared to the same quarter last year. Sell-side analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 7th. Investors of record on Wednesday, December 3rd were issued a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, December 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. Lam Research’s dividend payout ratio (DPR) is presently 22.91%.

Lam Research Profile

Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.

Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.