WASHINGTON TRUST Co Grows Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

WASHINGTON TRUST Co lifted its holdings in Lam Research Co. (NASDAQ:LRCX) by 1,350.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 145 shares of the semiconductor company’s stock after buying an additional 135 shares during the period. WASHINGTON TRUST Co’s holdings in Lam Research were worth $114,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bollard Group LLC raised its position in Lam Research by 60.0% during the second quarter. Bollard Group LLC now owns 40 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 15 shares during the period. Horizon Family Wealth Inc. raised its holdings in shares of Lam Research by 4.2% in the second quarter. Horizon Family Wealth Inc. now owns 397 shares of the semiconductor company’s stock worth $255,000 after buying an additional 16 shares during the period. KB Financial Partners LLC grew its stake in Lam Research by 5.9% in the 2nd quarter. KB Financial Partners LLC now owns 287 shares of the semiconductor company’s stock worth $185,000 after acquiring an additional 16 shares in the last quarter. Clear Creek Financial Management LLC increased its position in Lam Research by 1.3% during the 3rd quarter. Clear Creek Financial Management LLC now owns 1,342 shares of the semiconductor company’s stock valued at $841,000 after purchasing an additional 17 shares during the period. Finally, Asset Dedication LLC raised its holdings in shares of Lam Research by 56.7% in the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 17 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Lam Research Price Performance

Shares of LRCX opened at $971.57 on Friday. The firm’s fifty day simple moving average is $907.49 and its 200-day simple moving average is $762.59. The firm has a market capitalization of $127.37 billion, a price-to-earnings ratio of 37.57, a PEG ratio of 3.44 and a beta of 1.51. Lam Research Co. has a twelve month low of $480.45 and a twelve month high of $1,007.39. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.06 by $0.46. The company had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm’s revenue for the quarter was down 28.8% compared to the same quarter last year. During the same period last year, the company earned $10.71 EPS. Equities analysts forecast that Lam Research Co. will post 28.88 EPS 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. Shareholders of record on Wednesday, March 13th will be paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a 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%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LRCX. Citigroup increased their target price on Lam Research from $800.00 to $975.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Barclays raised their price target on shares of Lam Research from $750.00 to $825.00 and gave the company an “equal weight” rating in a report on Thursday, January 25th. The Goldman Sachs Group raised their price objective on Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. TD Cowen upped their target price on Lam Research from $710.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Stifel Nicolaus raised their price target on Lam Research from $850.00 to $950.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average target price of $811.68.

Insider Buying and Selling at Lam Research

In related news, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $768.75, for a total transaction of $678,037.50. Following the transaction, the director now owns 11,604 shares in the company, valued at approximately $8,920,575. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $768.75, for a total value of $678,037.50. Following the completion of the sale, the director now owns 11,604 shares of the company’s stock, valued at approximately $8,920,575. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy Archer sold 10,524 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $732.00, for a total transaction of $7,703,568.00. Following the completion of the sale, the chief executive officer now owns 86,449 shares in the company, valued at approximately $63,280,668. The disclosure for this sale can be found here. Insiders have sold a total of 19,895 shares of company stock worth $15,666,586 in the last quarter. 0.32% of the stock is owned by insiders.

About Lam Research

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.