Intrust Bank NA Boosts Stock Position in Lam Research Co. (NASDAQ:LRCX)

Intrust Bank NA lifted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 844.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 44,109 shares of the semiconductor company’s stock after purchasing an additional 39,441 shares during the quarter. Intrust Bank NA’s holdings in Lam Research were worth $3,186,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of LRCX. Maridea Wealth Management LLC purchased a new position in shares of Lam Research during the fourth quarter worth approximately $398,000. Progressive Investment Management Corp grew its holdings in shares of Lam Research by 869.9% during the 4th quarter. Progressive Investment Management Corp now owns 42,425 shares of the semiconductor company’s stock valued at $3,064,000 after purchasing an additional 38,051 shares during the last quarter. Brown Brothers Harriman & Co. raised its position in Lam Research by 904.3% in the 4th quarter. Brown Brothers Harriman & Co. now owns 9,380 shares of the semiconductor company’s stock worth $678,000 after purchasing an additional 8,446 shares during the period. DnB Asset Management AS lifted its stake in Lam Research by 483.5% in the fourth quarter. DnB Asset Management AS now owns 943,558 shares of the semiconductor company’s stock worth $68,153,000 after purchasing an additional 781,862 shares during the last quarter. Finally, Ramirez Asset Management Inc. boosted its position in Lam Research by 1,003.1% during the fourth quarter. Ramirez Asset Management Inc. now owns 4,280 shares of the semiconductor company’s stock valued at $309,000 after buying an additional 3,892 shares during the period. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

LRCX has been the topic of several analyst reports. 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. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and lifted their price target for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research report on Friday, January 17th. Oppenheimer assumed coverage on shares of Lam Research in a report on Thursday, March 20th. They issued an “outperform” rating and a $95.00 target price on the stock. Finally, Jefferies Financial Group upped their price target on shares of Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.59.

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the 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 sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

Lam Research Stock Down 2.9 %

Shares of Lam Research stock opened at $72.61 on Friday. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The firm has a market cap of $93.21 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 1.47 and a beta of 1.53. The company has a 50-day moving average of $79.51 and a 200 day moving average of $77.28. 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) last announced its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share 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, sell-side analysts anticipate 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. Stockholders of record on Wednesday, March 5th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.27%. Lam Research’s dividend payout ratio is currently 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.