Cornercap Investment Counsel Inc. Cuts Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Cornercap Investment Counsel Inc. trimmed its position in shares of Lam Research Co. (NASDAQ:LRCX) by 3.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 610 shares of the semiconductor company’s stock after selling 23 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Lam Research were worth $478,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Valued Wealth Advisors LLC acquired a new stake in Lam Research during the 4th quarter worth $30,000. Orion Capital Management LLC acquired a new position in shares of Lam Research during the 3rd quarter valued at about $25,000. BluePath Capital Management LLC acquired a new position in shares of Lam Research during the 3rd quarter valued at about $28,000. Asset Dedication LLC boosted its position in shares of Lam Research by 56.7% during the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 17 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new position in shares of Lam Research during the 3rd quarter valued at about $30,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Citigroup boosted their price target on shares of Lam Research from $800.00 to $975.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of Lam Research in a research report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 price target on the stock. TD Cowen boosted their price objective on shares of Lam Research from $710.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Cantor Fitzgerald boosted their price objective on shares of Lam Research from $900.00 to $1,100.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Finally, Wells Fargo & Company boosted their price objective 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 analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $875.55.

Insider Buying and Selling

In related news, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the company’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 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. Over the last ninety days, insiders have sold 7,029 shares of company stock worth $6,559,489. Company insiders own 0.32% of the company’s stock.

Lam Research Stock Up 1.8 %

Shares of NASDAQ:LRCX opened at $963.23 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. The firm has a market capitalization of $126.28 billion, a PE ratio of 37.25, a price-to-earnings-growth ratio of 3.43 and a beta of 1.51. The firm’s 50-day moving average is $944.50 and its two-hundred day moving average is $796.73. 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 released its earnings results 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. 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 analyst estimates of $3.71 billion. During the same period in the prior year, the firm earned $10.71 earnings per share. The business’s quarterly revenue was down 28.8% compared to the same quarter last year. Analysts predict that Lam Research Co. will post 28.9 EPS for the current year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Investors 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 dividend yield of 0.83%. Lam Research’s payout ratio is 30.94%.

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.