Cadence Bank Has $1.90 Million Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Cadence Bank lifted its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 894.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,241 shares of the semiconductor company's stock after buying an additional 23,602 shares during the period. Cadence Bank's holdings in Lam Research were worth $1,895,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of LRCX. Financial Perspectives Inc raised its stake in shares of Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 309 shares in the last quarter. Fairway Wealth LLC increased its holdings in Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after buying an additional 306 shares during the last quarter. Atwood & Palmer Inc. bought a new position in Lam Research during the fourth quarter valued at approximately $27,000. Midwest Capital Advisors LLC acquired a new stake in Lam Research in the fourth quarter valued at approximately $27,000. Finally, Bell Investment Advisors Inc grew its position in Lam Research by 836.6% in the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 343 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Insider Buying and Selling at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.29% of the company's stock.

Lam Research Price Performance

Shares of Lam Research stock traded down $1.37 during trading on Monday, hitting $62.39. 14,300,233 shares of the company's stock traded hands, compared to its average volume of 12,154,008. The company has a market cap of $80.09 billion, a PE ratio of 18.95, a PEG ratio of 1.47 and a beta of 1.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a twelve month low of $56.32 and a twelve month high of $113.00. The firm's fifty day moving average price is $74.41 and its 200 day moving average price is $75.76.

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

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.47%. The ex-dividend date was Wednesday, March 5th. Lam Research's dividend payout ratio is currently 27.96%.

Analyst Ratings Changes

Several research firms recently issued reports on LRCX. KeyCorp upgraded shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price objective for the company in a report on Friday, January 17th. Oppenheimer decreased their price target on Lam Research from $95.00 to $80.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Sanford C. Bernstein raised Lam Research from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Bank of America decreased their target price on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Finally, The Goldman Sachs Group dropped their price target on shares of Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $93.87.

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.