Whittier Trust Co. of Nevada Inc. Acquires 18,494 Shares of Lam Research Co. (NASDAQ:LRCX)

Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 855.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,655 shares of the semiconductor company's stock after buying an additional 18,494 shares during the period. Whittier Trust Co. of Nevada Inc.'s holdings in Lam Research were worth $1,492,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Insight Wealth Partners LLC acquired a new position in shares of Lam Research in the third quarter worth about $202,000. B&L Asset Management LLC purchased a new position in Lam Research during the 3rd quarter worth approximately $204,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Lam Research in the third quarter valued at $220,000. Virtus Investment Advisers Inc. acquired a new stake in shares of Lam Research in the third quarter worth $245,000. Finally, Qsemble Capital Management LP purchased a new position in shares of Lam Research during the third quarter valued at $267,000. Institutional investors own 84.61% of the company's stock.

Lam Research Price Performance

Shares of NASDAQ LRCX traded down $1.33 during midday trading on Thursday, reaching $74.81. 8,440,133 shares of the company traded hands, compared to its average volume of 11,049,052. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. 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 stock's 50-day simple moving average is $79.75 and its 200-day simple moving average is $77.33. The firm has a market cap of $96.03 billion, a PE ratio of 22.72, a PEG ratio of 1.47 and a beta of 1.53.

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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, beating analysts' consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, equities analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research's payout ratio is presently 27.96%.

Insider Activity

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of research analyst reports. Morgan Stanley increased their price target on shares of Lam Research from $76.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 5th. Cantor Fitzgerald reissued an "overweight" rating and set a $100.00 target price on shares of Lam Research in a research note on Tuesday, February 18th. Sanford C. Bernstein raised shares of Lam Research from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Mizuho increased their price objective on Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Finally, Barclays lowered their target price on Lam Research from $90.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Friday, January 17th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $98.06.

Lam Research 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.