Phoenix Financial Ltd. Sells 9,646 Shares of Lam Research Corporation $LRCX

Phoenix Financial Ltd. lessened its holdings in shares of Lam Research Corporation (NASDAQ:LRCX) by 4.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 221,700 shares of the semiconductor company’s stock after selling 9,646 shares during the quarter. Phoenix Financial Ltd.’s holdings in Lam Research were worth $29,727,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LRCX. Paragon Private Wealth Management LLC bought a new position in shares of Lam Research during the 3rd quarter valued at $289,000. EFG Asset Management North America Corp. increased its position in Lam Research by 6.7% during the third quarter. EFG Asset Management North America Corp. now owns 61,272 shares of the semiconductor company’s stock worth $8,202,000 after buying an additional 3,845 shares during the last quarter. Alta Wealth Advisors LLC bought a new position in Lam Research during the third quarter valued at about $1,750,000. Belpointe Asset Management LLC raised its holdings in Lam Research by 0.6% during the third quarter. Belpointe Asset Management LLC now owns 17,896 shares of the semiconductor company’s stock valued at $2,396,000 after buying an additional 113 shares in the last quarter. Finally, Clark Financial Services Group Inc. BD lifted its position in shares of Lam Research by 10.0% in the third quarter. Clark Financial Services Group Inc. BD now owns 5,504 shares of the semiconductor company’s stock worth $737,000 after buying an additional 501 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Stifel Nicolaus increased their price objective on Lam Research from $160.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, January 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Lam Research in a research report on Monday, December 29th. Citigroup reissued a “buy” rating and issued a $265.00 price target (up previously from $190.00) on shares of Lam Research in a research report on Thursday. Wall Street Zen cut shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $180.00 price objective on shares of Lam Research in a report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $202.81.

Lam Research Trading Up 2.3%

Shares of Lam Research stock opened at $222.87 on Tuesday. The company’s fifty day simple moving average is $179.59 and its 200-day simple moving average is $142.73. The company has a market cap of $279.93 billion, a price-to-earnings ratio of 49.09, a PEG ratio of 2.76 and a beta of 1.77. The company has a current ratio of 2.21, a quick ratio of 1.60 and a debt-to-equity ratio of 0.37. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $236.10.

Lam Research Announces Dividend

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

Insider Activity

In other news, CFO Douglas R. Bettinger sold 40,080 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $150.60, for a total transaction of $6,036,048.00. Following the completion of the transaction, the chief financial officer owned 987,237 shares of the company’s stock, valued at approximately $148,677,892.20. This represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bethany Mayer sold 1,298 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $159.99, for a total transaction of $207,667.02. Following the completion of the sale, the director owned 1,652 shares of the company’s stock, valued at approximately $264,303.48. The trade was a 44.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 41,408 shares of company stock worth $6,248,501. Insiders own 0.31% of the company’s stock.

Lam Research Company 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.