Smithfield Trust Co Buys 12,924 Shares of Lam Research Co. (NASDAQ:LRCX)

Smithfield Trust Co boosted its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 900.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,360 shares of the semiconductor company's stock after buying an additional 12,924 shares during the quarter. Smithfield Trust Co's holdings in Lam Research were worth $1,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Lam Research by 2,400.0% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company's stock valued at $163,000 after purchasing an additional 192 shares during the period. Insight Wealth Partners LLC purchased a new stake in Lam Research during the 3rd quarter valued at $202,000. B&L Asset Management LLC bought a new stake in Lam Research in the 3rd quarter worth $204,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Lam Research in the third quarter valued at about $220,000. Finally, Concorde Asset Management LLC bought a new position in shares of Lam Research during the third quarter valued at about $242,000. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LRCX has been the topic of a number of research analyst reports. Needham & Company LLC restated a "buy" rating and set a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. 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. Susquehanna upgraded Lam Research from a "neutral" rating to a "positive" rating and upped their target price for the company from $75.00 to $125.00 in a report on Thursday, February 20th. KeyCorp upgraded 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. Finally, Mizuho upped their price objective on shares of Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $98.22.

Lam Research Price Performance

Shares of NASDAQ:LRCX traded up $2.61 during trading on Wednesday, hitting $79.05. 15,397,965 shares of the company's stock were exchanged, compared to its average volume of 11,070,426. The business's 50-day simple moving average is $79.14 and its 200 day simple moving average is $77.82. The company has a market cap of $101.47 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 1.47 and a beta of 1.46. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73.

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

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.16%. The ex-dividend date is Wednesday, March 5th. Lam Research's payout ratio is currently 27.96%.

Insider Buying and Selling at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company's 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 sale, the senior vice president now directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.29% of the company's stock.

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.