Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Hancock Whitney Corp

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Hancock Whitney Corp lifted its position in Lam Research Co. (NASDAQ:LRCX) by 30.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,270 shares of the semiconductor company’s stock after purchasing an additional 1,938 shares during the quarter. Hancock Whitney Corp’s holdings in Lam Research were worth $2,417,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Lam Research by 2.2% during the 2nd quarter. BlackRock Inc. now owns 11,392,897 shares of the semiconductor company’s stock valued at $2,140,039,000 after acquiring an additional 248,314 shares during the last quarter. Wealthfront Advisers LLC raised its stake in Lam Research by 1.2% during the 3rd quarter. Wealthfront Advisers LLC now owns 4,374 shares of the semiconductor company’s stock valued at $1,011,000 after acquiring an additional 50 shares during the last quarter. DNB Asset Management AS raised its stake in Lam Research by 2.0% during the 3rd quarter. DNB Asset Management AS now owns 35,467 shares of the semiconductor company’s stock valued at $8,197,000 after acquiring an additional 697 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Lam Research by 6.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,258 shares of the semiconductor company’s stock valued at $2,139,000 after acquiring an additional 546 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in Lam Research by 74.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 84,921 shares of the semiconductor company’s stock valued at $19,627,000 after acquiring an additional 36,164 shares during the last quarter. 86.91% of the stock is owned by hedge funds and other institutional investors.

In other news, SVP Patrick J. Lord sold 1,620 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $268.75, for a total transaction of $435,375.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy Archer sold 10,000 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $270.00, for a total value of $2,700,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,622 shares of company stock valued at $17,056,266. Company insiders own 0.43% of the company’s stock.

Several research firms have commented on LRCX. BidaskClub raised Lam Research from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 13th. Cowen upped their price objective on Lam Research from $346.00 to $380.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Credit Suisse Group upped their price objective on Lam Research from $300.00 to $370.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Argus reaffirmed a “buy” rating and set a $340.00 price objective on shares of Lam Research in a research note on Thursday, January 16th. Finally, DA Davidson raised Lam Research from a “neutral” rating to a “buy” rating and set a $350.00 price objective for the company in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $321.29.

Shares of LRCX stock opened at $339.30 on Friday. The company has a market cap of $49.72 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 1.15 and a beta of 1.64. The stock has a 50 day simple moving average of $304.77 and a 200-day simple moving average of $258.79. Lam Research Co. has a 12-month low of $163.60 and a 12-month high of $344.32. The company has a current ratio of 3.30, a quick ratio of 2.70 and a debt-to-equity ratio of 0.86.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $4.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.85 by $0.16. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.51 billion. Lam Research had a return on equity of 45.72% and a net margin of 21.67%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the prior year, the business posted $3.87 EPS. On average, equities analysts forecast that Lam Research Co. will post 16.82 earnings per share for the current fiscal year.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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