Lathrop Investment Management Corp Sells 173 Shares of Lam Research Co. (NASDAQ:LRCX)

Lathrop Investment Management Corp trimmed its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 2.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,940 shares of the semiconductor company’s stock after selling 173 shares during the period. Lathrop Investment Management Corp’s holdings in Lam Research were worth $4,848,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LRCX. CarsonAllaria Wealth Management Ltd. purchased a new stake in Lam Research during the second quarter valued at $32,000. RFP Financial Group LLC lifted its stake in shares of Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares during the period. Hobbs Group Advisors LLC bought a new stake in Lam Research during the second quarter valued at approximately $40,000. Country Trust Bank bought a new position in Lam Research in the second quarter worth approximately $43,000. Finally, MFA Wealth Advisors LLC bought a new position in Lam Research in the 2nd quarter worth $45,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the topic of a number of analyst reports. B. Riley lowered their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Wells Fargo & Company cut their price target on Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. TD Cowen boosted their price objective on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft decreased their target price on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Finally, Mizuho dropped their price target on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

Lam Research Stock Performance

LRCX stock opened at $73.05 on Friday. The firm has a 50-day simple moving average of $76.97 and a two-hundred day simple moving average of $87.46. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. Lam Research Co. has a one year low of $68.72 and a one year high of $113.00. The firm has a market cap of $93.99 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 1.12 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same period last year, the firm earned $6.85 earnings per share. Lam Research’s revenue was up 19.7% compared to the same quarter last year. On average, equities analysts forecast that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.26%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio is presently 29.74%.

Insider Activity

In other news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the sale, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This represents a 13.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.29% of the company’s stock.

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.