Lathrop Investment Management Corp Has $4.79 Million Stake in Lam Research Co. (NASDAQ:LRCX)

Lathrop Investment Management Corp trimmed its position in shares of Lam Research Co. (NASDAQ:LRCX) by 26.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,113 shares of the semiconductor company’s stock after selling 2,222 shares during the quarter. Lathrop Investment Management Corp’s holdings in Lam Research were worth $4,788,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Unique Wealth Strategies LLC acquired a new position in shares of Lam Research during the fourth quarter worth approximately $759,000. Dohj LLC acquired a new position in shares of Lam Research during the fourth quarter worth approximately $500,000. Gilliland Jeter Wealth Management LLC acquired a new position in shares of Lam Research during the fourth quarter worth approximately $2,017,000. Headlands Technologies LLC purchased a new stake in Lam Research in the 4th quarter valued at $1,296,000. Finally, Citizens Financial Group Inc. RI raised its position in Lam Research by 20.9% in the 4th quarter. Citizens Financial Group Inc. RI now owns 491 shares of the semiconductor company’s stock valued at $384,000 after buying an additional 85 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LRCX. Needham & Company LLC reissued a “buy” rating and issued a $1,030.00 price target on shares of Lam Research in a research report on Thursday. JPMorgan Chase & Co. increased their price target on Lam Research from $900.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday. TD Cowen increased their price target on Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday. Cantor Fitzgerald reissued a “neutral” rating and issued a $1,100.00 price target on shares of Lam Research in a research report on Thursday. Finally, Evercore ISI began coverage on Lam Research in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $950.85.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the transaction, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Lam Research news, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the sale, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The disclosure for this sale can be found here. Insiders sold a total of 7,029 shares of company stock worth $6,559,489 in the last quarter. 0.32% of the stock is owned by company insiders.

Lam Research Stock Performance

Shares of LRCX stock traded up $23.90 on Friday, hitting $925.37. 1,397,129 shares of the stock were exchanged, compared to its average volume of 1,010,097. The company has a current ratio of 2.82, a quick ratio of 2.02 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $121.32 billion, a PE ratio of 34.03, a P/E/G ratio of 3.20 and a beta of 1.51. Lam Research Co. has a one year low of $493.42 and a one year high of $1,007.39. The firm’s 50 day moving average is $943.67 and its two-hundred day moving average is $809.10.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, topping the consensus estimate of $7.26 by $0.53. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The business had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the company earned $6.99 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. Sell-side analysts expect that Lam Research Co. will post 29.46 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were paid a $2.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.86%. Lam Research’s dividend payout ratio is currently 29.42%.

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.