Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Simmons Bank

Simmons Bank lifted its holdings in Lam Research Co. (NASDAQ:LRCX) by 839.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,740 shares of the semiconductor company’s stock after buying an additional 3,342 shares during the quarter. Simmons Bank’s holdings in Lam Research were worth $270,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Van ECK Associates Corp lifted its position in Lam Research by 1,394.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after acquiring an additional 15,005,178 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Lam Research by 860.4% during the fourth quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company’s stock worth $851,361,000 after acquiring an additional 10,559,508 shares during the last quarter. State Street Corp boosted its holdings in Lam Research by 1.6% in the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock valued at $4,817,113,000 after purchasing an additional 94,086 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Lam Research by 827.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock valued at $228,285,000 after purchasing an additional 2,819,668 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Lam Research by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock worth $2,539,413,000 after purchasing an additional 64,053 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Trading Down 6.3 %

Shares of LRCX stock opened at $76.17 on Friday. The stock has a 50-day simple moving average of $78.84 and a 200 day simple moving average of $78.10. The stock has a market capitalization of $97.78 billion, a P/E ratio of 23.14, a P/E/G ratio of 1.47 and a beta of 1.46. 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 Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. On average, sell-side analysts expect that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.21%. Lam Research’s dividend payout ratio is currently 27.96%.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research note on Friday, January 17th. Mizuho raised their price objective on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and raised their target price for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Finally, Morgan Stanley upped their price target on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and an average price target 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.