Hancock Whitney Corp Raises Stake in Lam Research Co. (NASDAQ:LRCX)

Hancock Whitney Corp grew its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 899.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 5,936 shares of the semiconductor company's stock after buying an additional 5,342 shares during the period. Hancock Whitney Corp's holdings in Lam Research were worth $429,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LRCX. KeyCorp upgraded shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 target price for the company in a research note on Friday, January 17th. Mizuho raised their price objective on shares of Lam Research from $87.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Bank of America dropped their target price on Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. TD Securities decreased their price target on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, TD Cowen dropped their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday. Six equities 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, the company has a consensus rating of "Moderate Buy" and an average price target of $92.70.

Insider Buying and Selling

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's stock in a transaction dated 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 sale, the senior vice president now directly owns 179,084 shares of the company's stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is owned by company insiders.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $71.42 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The business's fifty day moving average price is $73.15 and its two-hundred day moving average price is $75.43. The stock has a market cap of $91.68 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52. Lam Research Co. has a one year low of $56.32 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. On average, analysts forecast 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. Investors of record on Wednesday, March 5th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research's payout ratio is 25.63%.

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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