Citizens Financial Group Inc. RI Makes New $705,000 Investment in Lam Research Co. (NASDAQ:LRCX)

Citizens Financial Group Inc. RI bought a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 9,762 shares of the semiconductor company's stock, valued at approximately $705,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parisi Gray Wealth Management lifted its holdings in shares of Lam Research by 652.9% during the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company's stock worth $603,000 after purchasing an additional 7,241 shares during the period. Burns J W & Co. Inc. NY acquired a new position in Lam Research in the fourth quarter valued at approximately $815,000. Centerpoint Advisors LLC lifted its holdings in Lam Research by 900.0% in the fourth 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 during the period. Jennison Associates LLC lifted its holdings in Lam Research by 20.0% in the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company's stock valued at $194,451,000 after acquiring an additional 39,725 shares during the period. Finally, Worldquant Millennium Advisors LLC lifted its holdings in Lam Research by 51.9% in the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company's stock valued at $175,800,000 after acquiring an additional 73,648 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Insider Activity

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

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Mizuho boosted their price target on Lam Research from $87.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Barclays decreased their price target on Lam Research from $90.00 to $75.00 and set an "equal weight" rating for the company in a report on Friday, January 17th. Wolfe Research downgraded Lam Research from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 15th. Susquehanna raised Lam Research from a "neutral" rating to a "positive" rating and boosted their price target for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Finally, Needham & Company LLC restated a "buy" rating and issued a $90.00 price objective on shares of Lam Research in a research report on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $98.22.

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Lam Research Stock Up 4.4 %

Shares of LRCX opened at $76.59 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00. The stock has a market capitalization of $98.32 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 1.47 and a beta of 1.53. The stock has a 50 day moving average price of $79.44 and a 200 day moving average price of $77.46.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share 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%. Equities research analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research's dividend payout ratio (DPR) is currently 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.

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