Lam Research Co. (NASDAQ:LRCX) Shares Bought by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ boosted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,454 shares of the semiconductor company’s stock after purchasing an additional 50 shares during the period. Lam Research comprises approximately 4.8% of Groesbeck Investment Management Corp NJ’s investment portfolio, making the stock its 3rd biggest holding. Groesbeck Investment Management Corp NJ’s holdings in Lam Research were worth $3,489,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Baird Financial Group Inc. raised its position in shares of Lam Research by 11.5% in the first quarter. Baird Financial Group Inc. now owns 39,514 shares of the semiconductor company’s stock worth $21,243,000 after acquiring an additional 4,090 shares during the period. Zions Bancorporation N.A. raised its position in shares of Lam Research by 39.1% in the first quarter. Zions Bancorporation N.A. now owns 281 shares of the semiconductor company’s stock worth $151,000 after acquiring an additional 79 shares during the period. Brown Brothers Harriman & Co. raised its position in shares of Lam Research by 18.8% in the first quarter. Brown Brothers Harriman & Co. now owns 721 shares of the semiconductor company’s stock worth $388,000 after acquiring an additional 114 shares during the period. Covestor Ltd raised its position in shares of Lam Research by 51.9% in the first quarter. Covestor Ltd now owns 322 shares of the semiconductor company’s stock worth $173,000 after acquiring an additional 110 shares during the period. Finally, Mackenzie Financial Corp raised its position in shares of Lam Research by 11.8% in the first quarter. Mackenzie Financial Corp now owns 233,280 shares of the semiconductor company’s stock worth $125,414,000 after acquiring an additional 24,636 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Trading Down 1.0 %

Shares of Lam Research stock traded down $8.74 during mid-day trading on Thursday, hitting $903.52. The stock had a trading volume of 698,057 shares, compared to its average volume of 1,021,485. The firm has a 50-day moving average of $945.78 and a two-hundred day moving average of $797.54. Lam Research Co. has a 12-month low of $482.74 and a 12-month high of $1,007.39. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61. The firm has a market cap of $118.45 billion, a P/E ratio of 35.28, a price-to-earnings-growth ratio of 3.49 and a beta of 1.51.

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

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were paid a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 annualized dividend and a dividend yield of 0.89%. Lam Research’s dividend payout ratio (DPR) is 30.94%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LRCX shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Lam Research in a research report on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 price objective for the company. Susquehanna boosted their target price on shares of Lam Research from $655.00 to $880.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Wells Fargo & Company boosted their target price on shares of Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Stifel Nicolaus boosted their target price on shares of Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, TD Cowen boosted their target price on shares of Lam Research from $710.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $881.45.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Lam Research news, CAO Christina Corrreia sold 647 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 $628,903.41. Following the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the 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 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 valued at $6,559,489 in the last 90 days. Company insiders own 0.32% of the company’s stock.

Lam Research Company 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.