Lam Research Co. (NASDAQ:LRCX) Stock Holdings Lifted by M&T Bank Corp

M&T Bank Corp lifted its position in Lam Research Co. (NASDAQ:LRCX) by 960.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 113,566 shares of the semiconductor company’s stock after acquiring an additional 102,861 shares during the quarter. M&T Bank Corp’s holdings in Lam Research were worth $8,202,000 as of its most recent filing with the SEC.

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

Lam Research Stock Performance

Shares of LRCX opened at $76.47 on Friday. 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 Co. has a one year low of $68.87 and a one year high of $113.00. The company’s fifty day moving average price is $79.19 and its 200 day moving average price is $77.81. The company has a market capitalization of $98.16 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share 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%. As a group, analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.20%. Lam Research’s payout ratio is 27.96%.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction dated 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 sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. Barclays decreased their target price on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Wells Fargo & Company lifted their price objective on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group dropped their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average target price of $98.22.

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.