Whittier Trust Co. Buys 56,643 Shares of Lam Research Co. (NASDAQ:LRCX)

Whittier Trust Co. lifted its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 917.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,819 shares of the semiconductor company's stock after buying an additional 56,643 shares during the period. Whittier Trust Co.'s holdings in Lam Research were worth $4,537,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Northwest & Ethical Investments L.P. lifted its position in Lam Research by 872.5% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 47,670 shares of the semiconductor company's stock valued at $3,443,000 after purchasing an additional 42,768 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Lam Research by 863.9% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 273,588 shares of the semiconductor company's stock valued at $19,761,000 after buying an additional 245,206 shares during the last quarter. iA Global Asset Management Inc. boosted its position in Lam Research by 1,168.2% during the 4th quarter. iA Global Asset Management Inc. now owns 182,320 shares of the semiconductor company's stock valued at $13,169,000 after buying an additional 167,944 shares during the period. Teacher Retirement System of Texas increased its position in shares of Lam Research by 1,268.5% in the fourth quarter. Teacher Retirement System of Texas now owns 689,738 shares of the semiconductor company's stock valued at $49,820,000 after acquiring an additional 639,338 shares during the period. Finally, Strategic Financial Services Inc. raised its stake in shares of Lam Research by 893.6% during the fourth quarter. Strategic Financial Services Inc. now owns 42,855 shares of the semiconductor company's stock valued at $3,095,000 after acquiring an additional 38,542 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company's stock in a transaction 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.29% of the stock is owned by insiders.

Lam Research Stock Down 0.4 %

NASDAQ:LRCX traded down $0.32 during trading hours on Tuesday, reaching $77.67. 6,436,759 shares of the company traded hands, compared to its average volume of 11,069,593. 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 business's 50-day moving average price is $79.70 and its two-hundred day moving average price is $77.30. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The stock has a market capitalization of $99.70 billion, a P/E ratio of 23.59, a P/E/G ratio of 1.47 and a beta of 1.53.

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

Lam Research Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Wednesday, March 5th. Lam Research's payout ratio is 27.96%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wells Fargo & Company raised their target price on Lam Research from $82.00 to $85.00 and gave the stock an "equal weight" rating in a research note 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. Wolfe Research lowered Lam Research from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 15th. Morgan Stanley boosted their price objective on shares of Lam Research from $76.00 to $78.00 and gave the company an "equal weight" rating in a research report on Thursday, December 5th. Finally, KeyCorp raised shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 target price on the stock in a research note on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Lam Research currently has a consensus rating of "Moderate Buy" and an average target price of $98.06.

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.