Lathrop Investment Management Corp Sells 173 Shares of Lam Research Co. (NASDAQ:LRCX)

Lathrop Investment Management Corp reduced its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 2.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,940 shares of the semiconductor company’s stock after selling 173 shares during the period. Lathrop Investment Management Corp’s holdings in Lam Research were worth $4,848,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Lam Research in the 2nd quarter worth about $32,000. RFP Financial Group LLC raised its holdings in Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after buying an additional 12 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Lam Research during the second quarter valued at about $40,000. Country Trust Bank bought a new stake in Lam Research during the 2nd quarter worth approximately $43,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Lam Research in the second quarter worth approximately $45,000. Institutional investors own 84.61% of the company’s stock.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 13.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LRCX shares. BNP Paribas raised Lam Research to a “hold” rating in a research report on Thursday, October 24th. Cantor Fitzgerald reissued a “neutral” rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. UBS Group decreased their price objective on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, September 12th. B. Riley reduced their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Finally, Citigroup lowered their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a report on Monday, September 16th. Seven 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 MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and an average price target of $97.03.

Lam Research Trading Up 4.3 %

Shares of LRCX opened at $73.05 on Friday. The firm’s 50 day simple moving average is $76.97 and its 200 day simple moving average is $87.46. The company has a market capitalization of $93.99 billion, a P/E ratio of 23.61, a P/E/G ratio of 1.12 and a beta of 1.48. Lam Research Co. has a 1-year low of $68.72 and a 1-year high of $113.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same period last year, the firm posted $6.85 earnings per share. The business’s revenue was up 19.7% compared to the same quarter last year. Sell-side analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.74%.

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.