Jackson Square Capital LLC Sells 156 Shares of Lam Research Co. (NASDAQ:LRCX)

Jackson Square Capital LLC trimmed its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 0.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,318 shares of the semiconductor company’s stock after selling 156 shares during the quarter. Jackson Square Capital LLC’s holdings in Lam Research were worth $2,204,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Centerpoint Advisors LLC grew its holdings in Lam Research by 900.0% during the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock worth $72,000 after acquiring an additional 900 shares during the last quarter. Huntington National Bank grew its holdings in Lam Research by 944.0% during the 4th quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company’s stock worth $21,291,000 after acquiring an additional 266,527 shares during the last quarter. ICICI Prudential Asset Management Co Ltd grew its holdings in Lam Research by 1,401.1% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 70,475 shares of the semiconductor company’s stock worth $5,090,000 after acquiring an additional 65,780 shares during the last quarter. Cerity Partners LLC grew its holdings in Lam Research by 781.9% during the 4th quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company’s stock worth $23,920,000 after acquiring an additional 293,619 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new stake in Lam Research during the 4th quarter worth approximately $6,296,000. 84.61% of the stock is owned by institutional investors.

Lam Research Price Performance

LRCX opened at $89.52 on Friday. The firm has a market cap of $114.51 billion, a P/E ratio of 27.19, a PEG ratio of 1.47 and a beta of 1.65. The firm has a 50-day moving average of $77.13 and a 200 day moving average of $76.97. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The firm’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $7.79 earnings per share. On average, research analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 1.03%. Lam Research’s dividend payout ratio is presently 25.63%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus reduced their price objective on shares of Lam Research from $100.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Oppenheimer reduced their price objective on shares of Lam Research from $95.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. TD Securities reduced their price objective on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Argus raised shares of Lam Research to a “strong-buy” rating in a research note on Friday, April 25th. Finally, B. Riley reaffirmed a “buy” rating on shares of Lam Research in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.87.

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.