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

Lathrop Investment Management Corp lessened its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 26.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,113 shares of the semiconductor company's stock after selling 2,222 shares during the period. Lathrop Investment Management Corp's holdings in Lam Research were worth $4,788,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Unique Wealth Strategies LLC purchased a new position in Lam Research during the 4th quarter worth $759,000. Dohj LLC purchased a new position in Lam Research in the fourth quarter valued at approximately $500,000. Gilliland Jeter Wealth Management LLC purchased a new stake in shares of Lam Research during the fourth quarter valued at approximately $2,017,000. Headlands Technologies LLC purchased a new stake in shares of Lam Research during the fourth quarter valued at approximately $1,296,000. Finally, Citizens Financial Group Inc. RI grew its position in shares of Lam Research by 20.9% during the fourth quarter. Citizens Financial Group Inc. RI now owns 491 shares of the semiconductor company's stock worth $384,000 after buying an additional 85 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Lam Research from a "hold" rating to a "buy" rating in a research note on Friday. Susquehanna lowered their price target on Lam Research from $880.00 to $850.00 and set a "neutral" rating for the company in a research note on Thursday. TD Cowen increased their target price on Lam Research from $975.00 to $1,000.00 and gave the company a "buy" rating in a research note on Thursday. JPMorgan Chase & Co. raised their price target on Lam Research from $900.00 to $950.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, UBS Group lifted their target price on Lam Research from $1,130.00 to $1,150.00 and gave the company a "buy" rating in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $950.85.

Lam Research Price Performance

Shares of LRCX traded up $23.90 during midday trading on Friday, hitting $925.37. 1,397,129 shares of the company traded hands, compared to its average volume of 1,010,097. The firm has a 50 day moving average of $943.67 and a 200-day moving average of $810.33. Lam Research Co. has a 52 week low of $493.42 and a 52 week high of $1,007.39. The stock has a market cap 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 company has a debt-to-equity ratio of 0.56, a quick ratio of 2.02 and a current ratio of 2.82.

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

Lam Research Dividend Announcement

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

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the sale, the senior vice president now directly owns 22,095 shares of the company's stock, valued at approximately $20,380,648.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the transaction, the director now owns 10,541 shares of the company's stock, valued at approximately $10,246,168.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $5,073,255.00. Following the completion of the sale, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,029 shares of company stock worth $6,559,489. Company insiders own 0.32% of the company's stock.

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.