Lam Research Co. (NASDAQ:LRCX) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lessened its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 3.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 610 shares of the semiconductor company’s stock after selling 23 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Lam Research were worth $478,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in LRCX. Moneta Group Investment Advisors LLC raised its stake in shares of Lam Research by 117,180.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 32,822,222 shares of the semiconductor company’s stock worth $13,795,180,000 after buying an additional 32,794,236 shares in the last quarter. State Street Corp raised its stake in shares of Lam Research by 1.7% in the 1st quarter. State Street Corp now owns 5,697,200 shares of the semiconductor company’s stock worth $3,029,550,000 after buying an additional 92,606 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Lam Research by 0.8% in the 1st quarter. Geode Capital Management LLC now owns 2,542,805 shares of the semiconductor company’s stock worth $1,345,403,000 after buying an additional 19,280 shares in the last quarter. Morgan Stanley raised its stake in shares of Lam Research by 3.2% in the 3rd quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock worth $1,164,490,000 after buying an additional 56,824 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Lam Research by 10.8% during the third quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock worth $1,029,386,000 after purchasing an additional 159,815 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Performance

LRCX opened at $963.23 on Wednesday. The company has a market cap of $126.28 billion, a PE ratio of 37.25, a price-to-earnings-growth ratio of 3.43 and a beta of 1.51. The stock has a 50-day moving average of $944.50 and a 200-day moving average of $796.73. Lam Research Co. has a 52-week low of $482.74 and a 52-week high of $1,007.39. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.06 by $0.46. The company had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.71 billion. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The firm’s revenue was down 28.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $10.71 EPS. As a group, equities research analysts forecast that Lam Research Co. will post 28.9 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were given 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 0.83%. Lam Research’s dividend payout ratio is presently 30.94%.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the transaction, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the transaction, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Christina Corrreia sold 647 shares of the business’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 transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,029 shares of company stock valued at $6,559,489. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LRCX. TD Cowen boosted their target price on Lam Research from $710.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. UBS Group boosted their target price on Lam Research from $885.00 to $1,130.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Mizuho boosted their target price on Lam Research from $900.00 to $935.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Susquehanna boosted their target price on Lam Research from $655.00 to $880.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Finally, Citigroup boosted their target price on Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and an average price target of $875.55.

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.