Lathrop Investment Management Corp Sells 2,222 Shares of Lam Research Co. (NASDAQ:LRCX)

Lathrop Investment Management Corp lowered its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 26.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Unique Wealth Strategies LLC bought a new stake in Lam Research during the 4th quarter worth about $759,000. Dohj LLC bought a new position in shares of Lam Research in the 4th quarter valued at about $500,000. Gilliland Jeter Wealth Management LLC bought a new position in shares of Lam Research in the 4th quarter valued at about $2,017,000. Headlands Technologies LLC bought a new position in shares of Lam Research in the 4th quarter valued at about $1,296,000. Finally, Citizens Financial Group Inc. RI boosted its stake in shares of 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 purchasing an additional 85 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Up 2.7 %

Shares of NASDAQ LRCX traded up $23.90 during midday trading on Friday, reaching $925.37. The company’s stock had a trading volume of 1,397,129 shares, 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. Lam Research Co. has a fifty-two week low of $493.42 and a fifty-two week high of $1,007.39. The stock has a market capitalization of $121.32 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 3.20 and a beta of 1.51. The stock has a 50 day simple moving average of $943.67 and a 200-day simple moving average of $809.10.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period last year, the company earned $6.99 earnings per share. The firm’s revenue was down 2.0% compared to the same quarter last year. Equities research analysts predict that Lam Research Co. will post 29.46 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a $2.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.86%. Lam Research’s dividend payout ratio (DPR) is presently 29.42%.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction on 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 completion of the transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction on 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 completion of the transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock worth $6,559,489 over the last ninety days. Insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Lam Research from $900.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday. Raymond James raised their target price on shares of Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Wells Fargo & Company raised their target price on shares of Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. TD Cowen raised their target price on shares of Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Evercore ISI started coverage on shares of Lam Research in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus target price of $950.85.

About Lam Research

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.