Country Club Bank GFN Takes Position in Lam Research Co. (NASDAQ:LRCX)

Country Club Bank GFN bought a new stake in Lam Research Co. (NASDAQ:LRCXFree Report) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 265 shares of the semiconductor company’s stock, valued at approximately $209,000.

A number of other institutional investors also recently bought and sold shares of LRCX. Moneta Group Investment Advisors LLC lifted its holdings in Lam Research by 117,180.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 32,822,222 shares of the semiconductor company’s stock valued at $13,795,180,000 after acquiring an additional 32,794,236 shares during the period. Norges Bank bought a new position in Lam Research in the fourth quarter valued at about $619,226,000. Morgan Stanley lifted its holdings in Lam Research by 34.8% in the fourth quarter. Morgan Stanley now owns 1,651,084 shares of the semiconductor company’s stock valued at $693,952,000 after acquiring an additional 425,918 shares during the period. Holocene Advisors LP lifted its holdings in Lam Research by 118.3% in the second quarter. Holocene Advisors LP now owns 445,535 shares of the semiconductor company’s stock valued at $286,417,000 after acquiring an additional 241,480 shares during the period. Finally, Imprint Wealth LLC bought a new position in Lam Research in the second quarter valued at about $21,673,000. Institutional investors own 84.61% of the company’s stock.

Insider Activity

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 sale, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of the sale, the director now directly owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The disclosure for this sale can be found here. Insiders sold 7,029 shares of company stock valued at $6,559,489 in the last ninety days. Insiders own 0.32% of the company’s stock.

Lam Research Stock Performance

NASDAQ LRCX opened at $967.33 on Wednesday. The stock has a market capitalization of $126.82 billion, a PE ratio of 37.41, a P/E/G ratio of 3.49 and a beta of 1.51. The business has a 50 day simple moving average of $917.08 and a two-hundred day simple moving average of $770.03. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. Lam Research Co. has a 1-year low of $480.45 and a 1-year high of $1,007.39.

Lam Research (NASDAQ:LRCXGet Free Report) last released its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating the consensus estimate of $7.06 by $0.46. The business had revenue of $3.76 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business posted $10.71 EPS. On average, research analysts predict that Lam Research Co. will post 28.88 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.83%. The ex-dividend date is Tuesday, March 12th. Lam Research’s dividend payout ratio is presently 30.94%.

Analyst Ratings Changes

A number of research firms have weighed in on LRCX. UBS Group increased their target price on Lam Research from $885.00 to $1,130.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Stifel Nicolaus upped their price target on Lam Research from $850.00 to $950.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Cantor Fitzgerald restated a “neutral” rating and issued a $900.00 price target on shares of Lam Research in a research report on Monday, March 4th. Citigroup upped their price target on Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Finally, Morgan Stanley cut Lam Research from an “overweight” rating to an “equal weight” rating and set a $720.00 price target for the company. in a research report on Friday, December 8th. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $826.68.

Check Out Our Latest Stock Report on Lam Research

Lam Research Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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