Joseph Group Capital Management Makes New Investment in Lam Research Co. (NASDAQ:LRCX)

Joseph Group Capital Management bought a new stake in Lam Research Co. (NASDAQ:LRCXGet Rating) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 55 shares of the semiconductor company’s stock, valued at approximately $1,704,000. Lam Research comprises approximately 1.6% of Joseph Group Capital Management’s investment portfolio, making the stock its 14th largest position.

Several other hedge funds have also recently made changes to their positions in the company. Bailard Inc. raised its holdings in shares of Lam Research by 0.6% in the fourth quarter. Bailard Inc. now owns 11,052 shares of the semiconductor company’s stock valued at $7,948,000 after purchasing an additional 70 shares during the last quarter. International Assets Investment Management LLC grew its position in Lam Research by 27.0% during the fourth quarter. International Assets Investment Management LLC now owns 813 shares of the semiconductor company’s stock valued at $585,000 after buying an additional 173 shares during the period. Rhumbline Advisers grew its position in Lam Research by 0.3% during the fourth quarter. Rhumbline Advisers now owns 244,506 shares of the semiconductor company’s stock valued at $175,836,000 after buying an additional 763 shares during the period. Associated Banc Corp grew its position in Lam Research by 6.6% during the fourth quarter. Associated Banc Corp now owns 103,441 shares of the semiconductor company’s stock valued at $74,390,000 after buying an additional 6,382 shares during the period. Finally, Pictet Asset Management SA grew its position in Lam Research by 1.8% during the fourth quarter. Pictet Asset Management SA now owns 1,063,028 shares of the semiconductor company’s stock valued at $764,477,000 after buying an additional 18,477 shares during the period. Institutional investors own 82.34% of the company’s stock.

In other Lam Research news, EVP Richard A. Gottscho sold 537 shares of the company’s stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $560.50, for a total transaction of $300,988.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Scott Gerald Meikle sold 700 shares of the company’s stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $541.22, for a total transaction of $378,854.00. Following the transaction, the senior vice president now owns 20,425 shares in the company, valued at approximately $11,054,418.50. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Lam Research stock traded up $31.49 during mid-day trading on Friday, reaching $491.92. 1,908,547 shares of the company traded hands, compared to its average volume of 1,410,791. The firm’s 50 day moving average price is $496.72 and its 200 day moving average price is $584.82. The firm has a market capitalization of $68.23 billion, a price-to-earnings ratio of 15.38, a P/E/G ratio of 0.91 and a beta of 1.27. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.83 and a quick ratio of 2.00. Lam Research Co. has a 52-week low of $442.53 and a 52-week high of $731.85.

Lam Research (NASDAQ:LRCXGet Rating) last released its earnings results on Wednesday, April 20th. The semiconductor company reported $7.40 earnings per share for the quarter, missing analysts’ consensus estimates of $7.48 by ($0.08). The business had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Lam Research had a return on equity of 75.51% and a net margin of 27.13%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $7.49 earnings per share. On average, sell-side analysts anticipate that Lam Research Co. will post 31.61 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 6th. Shareholders of record on Wednesday, June 15th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.22%. The ex-dividend date is Tuesday, June 14th. Lam Research’s dividend payout ratio is currently 18.76%.

A number of equities analysts have weighed in on the stock. DA Davidson cut their target price on shares of Lam Research from $725.00 to $575.00 in a research report on Thursday, April 21st. UBS Group cut their target price on shares of Lam Research from $765.00 to $760.00 and set a “buy” rating for the company in a research report on Thursday, January 27th. Evercore ISI cut their target price on shares of Lam Research from $855.00 to $800.00 and set an “outperform” rating for the company in a research report on Thursday, January 27th. Susquehanna Bancshares cut their price objective on shares of Lam Research from $655.00 to $640.00 and set a “neutral” rating for the company in a research report on Thursday, January 27th. Finally, B. Riley cut their price objective on shares of Lam Research from $725.00 to $625.00 and set a “buy” rating for the company in a research report on Monday, April 18th. Twelve analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $670.90.

About Lam Research (Get Rating)

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.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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