Dock Street Asset Management Inc. Purchases Shares of 315 Lam Research Co. (NASDAQ:LRCX)

Dock Street Asset Management Inc. purchased a new stake in shares of Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 315 shares of the semiconductor company’s stock, valued at approximately $247,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of LRCX. Orion Capital Management LLC bought a new position in shares of Lam Research in the 3rd quarter worth approximately $25,000. BluePath Capital Management LLC bought a new position in shares of Lam Research in the 3rd quarter worth approximately $28,000. OFI Invest Asset Management bought a new position in shares of Lam Research in the 3rd quarter worth approximately $30,000. Asset Dedication LLC raised its position in shares of Lam Research by 56.7% in the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 17 shares in the last quarter. Finally, Valued Wealth Advisors LLC bought a new position in shares of Lam Research in the 4th quarter worth approximately $30,000. 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 firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the sale, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction dated Monday, March 18th. The stock was 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 directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at $5,386,018.23. The disclosure for this sale can be found here. Insiders have sold a total of 7,029 shares of company stock valued at $6,559,489 over the last ninety days. 0.32% of the stock is currently owned by company insiders.

Lam Research Stock Performance

NASDAQ LRCX traded down $9.67 on Thursday, hitting $902.59. 672,339 shares of the company traded hands, compared to its average volume of 1,021,485. The company has a market capitalization of $118.33 billion, a price-to-earnings ratio of 35.28, a P/E/G ratio of 3.49 and a beta of 1.51. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average price is $945.78 and its 200-day moving average price is $797.54. Lam Research Co. has a 52-week low of $482.74 and a 52-week high of $1,007.39.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS 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 analysts’ expectations of $3.71 billion. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The business’s quarterly revenue was down 28.8% on a year-over-year basis. During the same period last year, the firm earned $10.71 earnings per share. Equities analysts expect that Lam Research Co. will post 28.9 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were issued a dividend of $2.00 per share. The ex-dividend date 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 is presently 30.94%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Mizuho increased their target price on Lam Research from $900.00 to $935.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Raymond James raised their price objective on Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Cantor Fitzgerald raised their price objective on Lam Research from $900.00 to $1,100.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, Citigroup increased their target price on Lam Research from $800.00 to $975.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus target price of $881.45.

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.