OVERSEA CHINESE BANKING Corp Ltd Buys 332 Shares of Lam Research Co. (NASDAQ:LRCX)

OVERSEA CHINESE BANKING Corp Ltd boosted its stake in Lam Research Co. (NASDAQ:LRCX) by 76.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 765 shares of the semiconductor company’s stock after acquiring an additional 332 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Lam Research were worth $599,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LRCX. Arlington Trust Co LLC increased its stake in shares of Lam Research by 7.7% during the 4th quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock worth $143,000 after purchasing an additional 13 shares during the last quarter. CNB Bank increased its stake in shares of Lam Research by 1.4% during the 4th quarter. CNB Bank now owns 1,032 shares of the semiconductor company’s stock worth $808,000 after purchasing an additional 14 shares during the last quarter. TRUE Private Wealth Advisors increased its stake in shares of Lam Research by 4.1% during the 4th quarter. TRUE Private Wealth Advisors now owns 378 shares of the semiconductor company’s stock worth $296,000 after purchasing an additional 15 shares during the last quarter. KB Financial Partners LLC increased its stake in shares of Lam Research by 5.9% during the 2nd quarter. KB Financial Partners LLC now owns 287 shares of the semiconductor company’s stock worth $185,000 after purchasing an additional 16 shares during the last quarter. Finally, Clear Creek Financial Management LLC increased its stake in shares of 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 worth $841,000 after purchasing an additional 17 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LRCX. Barclays boosted their price objective on shares of Lam Research from $750.00 to $825.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 25th. Deutsche Bank Aktiengesellschaft initiated coverage on Lam Research in a report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 target price for the company. B. Riley raised Lam Research from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $870.00 to $1,100.00 in a report on Friday. Stifel Nicolaus lifted their target price on Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Needham & Company LLC lifted their target price on Lam Research from $900.00 to $1,030.00 and gave the stock a “buy” rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average price target of $931.85.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’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 sale, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’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 transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Christina Corrreia sold 647 shares of the business’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 $628,903.41. Following the completion of the transaction, the chief accounting officer now directly owns 5,541 shares in the company, valued at $5,386,018.23. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock worth $6,559,489 over the last ninety days. Insiders own 0.32% of the company’s stock.

Lam Research Stock Performance

NASDAQ:LRCX opened at $870.25 on Monday. The stock has a market cap of $114.09 billion, a P/E ratio of 33.65, a price-to-earnings-growth ratio of 3.15 and a beta of 1.51. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. The stock’s 50-day moving average is $945.44 and its 200-day moving average is $802.29. Lam Research Co. has a 1-year low of $493.42 and a 1-year high of $1,007.39.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share 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 return on equity of 44.47% and a net margin of 24.15%. The business’s quarterly revenue was down 28.8% compared to the same quarter last year. During the same period in the previous year, the business posted $10.71 earnings per share. Equities research analysts anticipate that Lam Research Co. will post 28.92 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s payout ratio is presently 30.94%.

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.