Heritage Trust Co Invests $2.02 Million in Lam Research Co. (NASDAQ:LRCX)

Heritage Trust Co bought a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 28,009 shares of the semiconductor company's stock, valued at approximately $2,023,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Fairway Wealth LLC boosted its position 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 valued at $25,000 after buying an additional 306 shares during the last quarter. Financial Perspectives Inc increased its position in Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after buying an additional 309 shares during the last quarter. Atwood & Palmer Inc. bought a new stake in shares of Lam Research in the fourth quarter valued at $27,000. Midwest Capital Advisors LLC bought a new position in shares of Lam Research during the 4th quarter worth $27,000. Finally, Bell Investment Advisors Inc raised its stake 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 acquiring an additional 343 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Remove Ads

Analyst Ratings Changes

LRCX has been the subject of several analyst reports. Wolfe Research downgraded shares of Lam Research from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 15th. Wells Fargo & Company lifted their target price on shares of Lam Research from $82.00 to $85.00 and gave the company an "equal weight" rating in a research report on Thursday, January 30th. Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 price objective on shares of Lam Research in a report on Thursday, January 30th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $100.00 price objective on shares of Lam Research in a report on Tuesday, February 18th. Finally, UBS Group decreased their target price on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Monday. Six investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $95.06.

Lam Research Stock Down 4.9 %

Shares of LRCX stock traded down $3.35 on Wednesday, hitting $65.09. The stock had a trading volume of 5,914,328 shares, compared to its average volume of 13,191,269. Lam Research Co. has a one year low of $56.32 and a one year high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The company has a market cap of $83.55 billion, a PE ratio of 19.77, a P/E/G ratio of 1.47 and a beta of 1.52. The business has a 50 day moving average price of $75.92 and a 200 day moving average price of $76.24.

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

Lam Research Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research's dividend payout ratio (DPR) is 27.96%.

Lam Research Company Profile

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.