Morton Community Bank Boosts Holdings in Lam Research Co. (NASDAQ:LRCX)

Morton Community Bank raised its position in Lam Research Co. (NASDAQ:LRCX) by 901.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,205 shares of the semiconductor company’s stock after acquiring an additional 49,691 shares during the quarter. Lam Research makes up about 1.1% of Morton Community Bank’s holdings, making the stock its 26th biggest holding. Morton Community Bank’s holdings in Lam Research were worth $3,987,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in LRCX. Parisi Gray Wealth Management increased its holdings in shares of Lam Research by 652.9% in the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock valued at $603,000 after acquiring an additional 7,241 shares during the period. Burns J W & Co. Inc. NY acquired a new position in shares of Lam Research during the 4th quarter worth $815,000. Centerpoint Advisors LLC grew its stake in shares of Lam Research by 900.0% during the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 900 shares during the period. Jennison Associates LLC boosted its position in shares of Lam Research by 20.0% in the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after buying an additional 39,725 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC boosted its position in shares of Lam Research by 51.9% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after buying an additional 73,648 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Activity at Lam Research

In other 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 value of $9,907,200.00. Following the completion of the transaction, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Lam Research Stock Performance

Shares of LRCX stock opened at $79.01 on Monday. The firm has a market cap of $101.42 billion, a PE ratio of 24.00, a P/E/G ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The company’s fifty day simple moving average is $79.30 and its 200-day simple moving average is $77.68. 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 issued 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%. Equities research analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.16%. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LRCX. Morgan Stanley upped their target price on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a research note on Friday, January 17th. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 price target on shares of Lam Research in a research note on Tuesday, February 18th. Finally, Mizuho lifted their price target on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $98.22.

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.