Lam Research Co. (NASDAQ:LRCX) is Groesbeck Investment Management Corp NJ’s 3rd Largest Position

Groesbeck Investment Management Corp NJ grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,454 shares of the semiconductor company’s stock after purchasing an additional 50 shares during the period. Lam Research comprises 4.8% of Groesbeck Investment Management Corp NJ’s investment portfolio, making the stock its 3rd largest 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 also recently bought and sold shares of the company. Valued Wealth Advisors LLC acquired a new position in shares of Lam Research during the fourth quarter worth $30,000. Orion Capital Management LLC acquired a new position in shares of Lam Research during the third quarter worth $25,000. BluePath Capital Management LLC acquired a new position in shares of Lam Research during the third quarter worth $28,000. Asset Dedication LLC lifted its position in shares of Lam Research by 56.7% during the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 17 shares in the last quarter. Finally, Rakuten Securities Inc. acquired a new position in shares of Lam Research during the fourth quarter worth $38,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lam Research

In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following 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 SEC, which can be accessed through this link. In other news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $10,246,168.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s 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 transaction, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,029 shares of company stock valued at $6,559,489. Company insiders own 0.32% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX stock traded down $8.74 during trading hours on Thursday, reaching $903.52. The stock had a trading volume of 698,057 shares, compared to its average volume of 1,021,485. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. Lam Research Co. has a twelve month low of $482.74 and a twelve month high of $1,007.39. The firm has a 50-day simple moving average of $945.78 and a 200-day simple moving average of $797.54. The firm has a market capitalization of $118.45 billion, a PE ratio of 35.28, a price-to-earnings-growth ratio of 3.49 and a beta of 1.51.

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

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders 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 yield of 0.89%. Lam Research’s payout ratio is 30.94%.

Analysts Set New Price Targets

A number of research analysts have recently commented on LRCX shares. Cantor Fitzgerald boosted their target price on shares of Lam Research from $900.00 to $1,100.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Raymond James upped their price target on shares of Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Lam Research in a report on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 price target on the stock. Mizuho upped their price target on shares of Lam Research from $900.00 to $935.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Finally, Wells Fargo & Company upped their price target on shares of Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $881.45.

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.