Argent Trust Co Increases Stock Position in Lam Research Co. (NASDAQ:LRCX)

Argent Trust Co raised its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 888.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,386 shares of the semiconductor company's stock after buying an additional 47,987 shares during the period. Argent Trust Co's holdings in Lam Research were worth $3,856,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in LRCX. Parisi Gray Wealth Management lifted its stake in Lam Research by 652.9% during the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company's stock valued at $603,000 after acquiring an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY bought a new stake in shares of Lam Research during the fourth quarter valued at about $815,000. Centerpoint Advisors LLC raised its holdings in shares of Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock valued at $72,000 after acquiring an additional 900 shares in the last quarter. Transform Wealth LLC bought a new position in Lam Research in the fourth quarter valued at $17,269,000. Finally, E. Ohman J or Asset Management AB purchased a new stake in shares of Lam Research in the 4th quarter valued at $4,258,000. 84.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the transaction, the senior vice president now directly owns 179,084 shares of the company's stock, valued at $16,117,560. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.29% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $100.00 target price on shares of Lam Research in a research report on Tuesday, February 18th. Mizuho lifted their price target on shares of Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Oppenheimer cut their target price on Lam Research from $95.00 to $80.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Susquehanna upgraded Lam Research from a "neutral" rating to a "positive" rating and lifted their price target for the stock from $75.00 to $125.00 in a research report on Thursday, February 20th. Finally, UBS Group decreased their price target on Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Monday. Six research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $95.06.

Lam Research Stock Performance

Lam Research stock traded down $2.60 during mid-day trading on Wednesday, reaching $65.84. The company had a trading volume of 5,198,017 shares, compared to its average volume of 12,130,667. The firm has a market cap of $84.52 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 1.47 and a beta of 1.52. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The company has a 50 day moving average of $75.92 and a 200-day moving average of $76.24.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. On average, sell-side analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.40%. Lam Research's payout ratio is 27.96%.

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.