2,812 Shares in Lam Research Co. (NASDAQ:LRCX) Acquired by Nixon Peabody Trust Co.

Nixon Peabody Trust Co. acquired a new position in Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,812 shares of the semiconductor company’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. lifted its position in Lam Research by 2,400.0% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock worth $163,000 after buying an additional 192 shares in the last quarter. Insight Wealth Partners LLC purchased a new stake in Lam Research in the 3rd quarter worth approximately $202,000. B&L Asset Management LLC purchased a new stake in Lam Research in the 3rd quarter worth approximately $204,000. Dynamic Technology Lab Private Ltd purchased a new stake in Lam Research in the 3rd quarter worth approximately $220,000. Finally, Concorde Asset Management LLC purchased a new stake in Lam Research in the 3rd quarter worth approximately $242,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LRCX. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and raised their price target for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and raised their price target for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Barclays lowered their target price on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Morgan Stanley raised their target price on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company raised their target price on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and an average price target of $98.22.

Lam Research Trading Up 0.7 %

Shares of LRCX stock opened at $76.70 on Friday. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The company has a market capitalization of $98.45 billion, a P/E ratio of 23.30, a P/E/G ratio of 1.47 and a beta of 1.46. The firm has a 50-day moving average price of $78.94 and a 200 day moving average price of $78.09. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

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, topping 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%. Research analysts forecast 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. Shareholders of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio is presently 27.96%.

Insiders Place Their Bets

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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.