Citizens Financial Group Inc. RI Acquires 85 Shares of Lam Research Co. (NASDAQ:LRCX)

Citizens Financial Group Inc. RI increased its holdings in Lam Research Co. (NASDAQ:LRCX) by 20.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 491 shares of the semiconductor company’s stock after buying an additional 85 shares during the period. Citizens Financial Group Inc. RI’s holdings in Lam Research were worth $384,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. International Assets Investment Management LLC lifted its stake in Lam Research by 76,165.7% in the 4th quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company’s stock worth $249,099,000 after purchasing an additional 317,611 shares in the last quarter. Cerity Partners LLC increased its stake in Lam Research by 1,125.6% in the 4th quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company’s stock worth $267,984,000 after acquiring an additional 314,224 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Lam Research by 10.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock valued at $1,029,386,000 after acquiring an additional 159,815 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Lam Research by 106.5% during the third quarter. Canada Pension Plan Investment Board now owns 301,071 shares of the semiconductor company’s stock worth $188,702,000 after purchasing an additional 155,240 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Lam Research by 9.7% in the third quarter. Northern Trust Corp now owns 1,523,215 shares of the semiconductor company’s stock worth $954,705,000 after purchasing an additional 134,558 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Performance

Shares of Lam Research stock opened at $925.37 on Monday. The business has a fifty day simple moving average of $943.67 and a two-hundred day simple moving average of $811.51. The firm has a market capitalization of $121.32 billion, a P/E ratio of 34.03, a P/E/G ratio of 2.88 and a beta of 1.51. The company has a current ratio of 2.82, a quick ratio of 1.84 and a debt-to-equity ratio of 0.56. Lam Research Co. has a 12 month low of $493.42 and a 12 month high of $1,007.39.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The business had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the business earned $6.99 earnings per share. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities analysts forecast that Lam Research Co. will post 29.54 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were given a $2.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.86%. Lam Research’s payout ratio is currently 29.42%.

Insider Transactions at Lam Research

In other Lam Research news, CAO Christina Corrreia sold 647 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the sale, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the transaction, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the sale, the chief accounting officer now owns 5,541 shares in the company, valued at $5,386,018.23. The disclosure for this sale can be found here. Insiders sold a total of 7,029 shares of company stock valued at $6,559,489 over the last three months. Corporate insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Citigroup lifted their target price on shares of Lam Research from $975.00 to $1,025.00 and gave the company a “buy” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Lam Research in a report on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $1,030.00 target price on shares of Lam Research in a research report on Thursday. Wells Fargo & Company upped their price target on shares of Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Finally, Raymond James raised their price target on Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $950.85.

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.