Cookson Peirce & Co. Inc. Trims Position in Lam Research Co. (NASDAQ:LRCX)

Cookson Peirce & Co. Inc. lessened its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 9.9% during the fourth quarter, according to the company in 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 quarter. Cookson Peirce & Co. Inc.’s holdings in Lam Research were worth $1,580,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Blue Whale Capital LLP lifted its stake 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 worth $70,386,000 after purchasing an additional 800 shares during the period. Gradient Investments LLC increased its holdings in shares of Lam Research by 32,411.1% during the 4th 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 stake in shares of Lam Research during the 4th quarter worth $7,930,000. Treasurer of the State of North Carolina increased its holdings in shares of Lam Research by 0.9% during the 3rd 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 increased its holdings in shares of Lam Research by 13.6% during the 4th 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. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Susquehanna upped their price objective on Lam Research from $655.00 to $880.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Cantor Fitzgerald increased their price target on Lam Research from $900.00 to $1,100.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Barclays increased their price target on Lam Research from $750.00 to $825.00 and gave the company an “equal weight” rating in a report on Thursday, January 25th. TD Cowen increased their price target on Lam Research from $710.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, The Goldman Sachs Group increased their price target on Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $875.55.

Insiders Place Their Bets

In related news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Lam Research news, 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 of the company’s stock, valued at approximately $10,246,168.23. The sale 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 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 completion of the sale, the senior vice president now directly 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. Over the last 90 days, insiders have sold 7,029 shares of company stock worth $6,559,489. 0.32% of the stock is owned by insiders.

Lam Research Stock Performance

Shares of LRCX stock opened at $963.23 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The company’s 50-day simple moving average is $944.50 and its 200-day simple moving average is $796.73. Lam Research Co. has a one year low of $482.74 and a one year high of $1,007.39. The stock has a market capitalization of $126.28 billion, a price-to-earnings ratio of 37.25, a PEG ratio of 3.43 and a beta of 1.51.

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 business had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter last year, the business earned $10.71 earnings per share. The business’s revenue for the quarter was down 28.8% on a year-over-year basis. Equities analysts anticipate that Lam Research Co. will post 28.9 earnings per share for the current fiscal 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 given a $2.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.83%. Lam Research’s dividend payout ratio (DPR) is 30.94%.

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.