Washington Trust Advisors Inc. Grows Stake in Lam Research Co. (NASDAQ:LRCX)

Washington Trust Advisors Inc. increased its stake in Lam Research Co. (NASDAQ:LRCX) by 25.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 185 shares of the semiconductor company’s stock after purchasing an additional 38 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Lam Research were worth $145,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of LRCX. WASHINGTON TRUST Co increased its holdings in Lam Research by 1,350.0% in the 4th quarter. WASHINGTON TRUST Co now owns 145 shares of the semiconductor company’s stock worth $114,000 after acquiring an additional 135 shares during the last quarter. Parisi Gray Wealth Management boosted its stake in Lam Research by 5.0% in the 4th quarter. Parisi Gray Wealth Management now owns 630 shares of the semiconductor company’s stock worth $494,000 after purchasing an additional 30 shares during the period. Planned Solutions Inc. purchased a new position in Lam Research during the 4th quarter valued at about $140,000. IFG Advisory LLC bought a new position in shares of Lam Research in the fourth quarter valued at approximately $222,000. Finally, Columbia Trust Co 01012016 grew its stake in Lam Research by 3.4% during the fourth quarter. Columbia Trust Co 01012016 now owns 4,102 shares of the semiconductor company’s stock valued at $3,213,000 after acquiring an additional 136 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Trading Up 0.5 %

Shares of NASDAQ LRCX traded up $4.97 during trading hours on Thursday, hitting $970.64. The company’s stock had a trading volume of 250,205 shares, compared to its average volume of 1,067,183. The business has a 50-day simple moving average of $903.24 and a 200-day simple moving average of $761.16. The stock has a market cap of $127.25 billion, a price-to-earnings ratio of 37.49, a P/E/G ratio of 3.44 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. Lam Research Co. has a 12 month low of $480.45 and a 12 month high of $1,007.39.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, beating analysts’ consensus estimates of $7.06 by $0.46. The company had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.71 billion. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The firm’s revenue for the quarter was down 28.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.71 earnings per share. On average, analysts anticipate that Lam Research Co. will post 28.88 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Tuesday, March 12th. Lam Research’s dividend payout ratio is currently 30.94%.

Insider Buying and Selling

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the transaction, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy Archer sold 10,524 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $732.00, for a total transaction of $7,703,568.00. Following the sale, the chief executive officer now directly owns 86,449 shares in the company, valued at approximately $63,280,668. The disclosure for this sale can be found here. Insiders sold a total of 19,895 shares of company stock valued at $15,666,586 over the last three months. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Mizuho upped their price target on shares of Lam Research from $900.00 to $935.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. UBS Group lifted their price target on Lam Research from $885.00 to $1,130.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Needham & Company LLC upped their price objective on shares of Lam Research from $800.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Stifel Nicolaus lifted their target price on shares of Lam Research from $850.00 to $950.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, Morgan Stanley lowered shares of Lam Research from an “overweight” rating to an “equal weight” rating and set a $720.00 price target on the stock. in a report on Friday, December 8th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $811.68.

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.