Lam Research Co. (NASDAQ:LRCX) Shares Bought by Huntington National Bank

Huntington National Bank increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 944.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 294,762 shares of the semiconductor company's stock after purchasing an additional 266,527 shares during the quarter. Huntington National Bank's holdings in Lam Research were worth $21,291,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Lam Research in the third quarter worth about $220,000. Benjamin Edwards Inc. lifted its position in Lam Research by 4,085.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 13,395 shares of the semiconductor company's stock worth $10,932,000 after acquiring an additional 13,075 shares in the last quarter. Cinctive Capital Management LP purchased a new position in Lam Research in the 3rd quarter worth approximately $1,762,000. Hilltop Holdings Inc. grew its position in Lam Research by 65.8% in the third quarter. Hilltop Holdings Inc. now owns 1,350 shares of the semiconductor company's stock valued at $1,101,000 after acquiring an additional 536 shares in the last quarter. Finally, Heard Capital LLC raised its stake in shares of Lam Research by 65.3% during the third quarter. Heard Capital LLC now owns 172,913 shares of the semiconductor company's stock valued at $141,111,000 after purchasing an additional 68,280 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Stock Performance

NASDAQ:LRCX traded up $1.43 during mid-day trading on Monday, hitting $60.52. The stock had a trading volume of 11,747,958 shares, compared to its average volume of 11,841,932. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The company has a 50 day simple moving average of $78.26 and a 200-day simple moving average of $77.08. The stock has a market capitalization of $77.69 billion, a price-to-earnings ratio of 18.52, a P/E/G ratio of 1.47 and a beta of 1.52. Lam Research Co. has a 52 week low of $56.49 and a 52 week high of $113.00.

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Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data 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%. On average, research analysts expect that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.52%. Lam Research's dividend payout ratio is presently 27.96%.

Insider Buying and Selling at Lam Research

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on LRCX shares. Barclays lowered their price target on shares of Lam Research from $90.00 to $75.00 and set an "equal weight" rating for the company in a report on Friday, January 17th. Sanford C. Bernstein raised Lam Research from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Wells Fargo & Company lifted their price objective on Lam Research from $82.00 to $85.00 and gave the stock an "equal weight" rating in a report on Thursday, January 30th. Wolfe Research cut Lam Research from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 15th. Finally, KeyCorp raised shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price target on the stock in a report on Friday, January 17th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $97.59.

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.