Dock Street Asset Management Inc. Takes Position in Lam Research Co. (NASDAQ:LRCX)

Dock Street Asset Management Inc. bought a new stake in Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 315 shares of the semiconductor company’s stock, valued at approximately $247,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Valued Wealth Advisors LLC purchased a new stake in Lam Research during the fourth quarter worth about $30,000. Orion Capital Management LLC purchased a new stake in Lam Research during the third quarter worth about $25,000. BluePath Capital Management LLC purchased a new stake in Lam Research during the third quarter worth about $28,000. Asset Dedication LLC boosted its holdings in 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 buying an additional 17 shares in the last quarter. Finally, Rakuten Securities Inc. purchased a new stake in Lam Research during the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In other Lam Research news, 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 transaction, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research 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 completion of the transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock worth $6,559,489 in the last ninety days. 0.32% of the stock is owned by insiders.

Lam Research Trading Down 1.1 %

Shares of NASDAQ:LRCX traded down $9.67 during trading on Thursday, reaching $902.59. The stock had a trading volume of 672,339 shares, compared to its average volume of 1,021,485. The stock has a market cap of $118.33 billion, a P/E ratio of 35.28, a PEG ratio of 3.49 and a beta of 1.51. The business has a fifty day moving average price of $945.78 and a 200-day moving average price of $797.54. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61. Lam Research Co. has a fifty-two week low of $482.74 and a fifty-two week high of $1,007.39.

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

Lam Research Announces Dividend

The business also recently disclosed 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 of this dividend was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a yield of 0.89%. Lam Research’s dividend payout ratio (DPR) is 30.94%.

Analyst Upgrades and Downgrades

LRCX has been the topic of a number of research analyst reports. Mizuho boosted their price objective on shares of Lam Research from $900.00 to $935.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. The Goldman Sachs Group upped their price target on shares of Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Deutsche Bank Aktiengesellschaft started 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. Susquehanna upped their price target on shares of Lam Research from $655.00 to $880.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Finally, Needham & Company LLC upped their price target on shares of Lam Research from $900.00 to $1,030.00 and gave the company a “buy” rating in a report on Thursday. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and an average price target of $881.45.

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.