Cookson Peirce & Co. Inc. Has $1.58 Million Position in Lam Research Co. (NASDAQ:LRCX)

Cookson Peirce & Co. Inc. lessened its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 9.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,017 shares of the semiconductor company’s stock after selling 221 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Lam Research were worth $1,580,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Blue Whale Capital LLP lifted its position in shares of Lam Research by 0.7% during the 3rd quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock valued at $70,386,000 after acquiring an additional 800 shares during the period. Gradient Investments LLC raised its holdings in Lam Research by 32,411.1% during the fourth quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock worth $11,459,000 after buying an additional 14,585 shares during the last quarter. Contravisory Investment Management Inc. acquired a new position in Lam Research during the fourth quarter worth $7,930,000. Treasurer of the State of North Carolina raised its holdings in Lam Research by 0.9% during the third quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock worth $39,994,000 after buying an additional 560 shares during the last quarter. Finally, DNB Asset Management AS raised its holdings in Lam Research by 13.6% during the fourth quarter. DNB Asset Management AS now owns 41,100 shares of the semiconductor company’s stock worth $32,192,000 after buying an additional 4,910 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

LRCX has been the topic of several research reports. Stifel Nicolaus upped their price objective on shares of Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Lam Research in a report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 price objective on the stock. Raymond James upped their price objective on shares of Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Mizuho increased their target price 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, Citigroup increased their target price on shares of Lam Research from $800.00 to $975.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $875.55.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’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 owns 22,095 shares in the company, valued at $20,380,648.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction 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 sale, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction on 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 sale, the director now owns 10,541 shares in the company, valued at approximately $10,246,168.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,029 shares of company stock worth $6,559,489. Insiders own 0.32% of the company’s stock.

Lam Research Trading Up 1.8 %

Shares of LRCX opened at $963.23 on Wednesday. The firm’s 50 day simple moving average is $944.50 and its 200 day simple moving average is $796.73. The company has a market capitalization of $126.28 billion, a P/E ratio of 37.25, a P/E/G ratio of 3.43 and a beta of 1.51. 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 1-year low of $482.74 and a 1-year high of $1,007.39.

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

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s dividend payout ratio is 30.94%.

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.