Truist Financial Corp Has $40.96 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

Truist Financial Corp lowered its stake in Lam Research Co. (NASDAQ:LRCX) by 28.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 52,289 shares of the semiconductor company’s stock after selling 21,291 shares during the quarter. Truist Financial Corp’s holdings in Lam Research were worth $40,956,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Kovack Advisors Inc. raised its stake in Lam Research by 8.6% during the 4th quarter. Kovack Advisors Inc. now owns 846 shares of the semiconductor company’s stock worth $662,000 after buying an additional 67 shares during the period. Motley Fool Asset Management LLC raised its stake in Lam Research by 2.7% during the 4th quarter. Motley Fool Asset Management LLC now owns 3,925 shares of the semiconductor company’s stock worth $3,074,000 after buying an additional 105 shares during the period. Tandem Capital Management Corp ADV raised its stake in Lam Research by 6.6% during the 4th quarter. Tandem Capital Management Corp ADV now owns 485 shares of the semiconductor company’s stock worth $380,000 after buying an additional 30 shares during the period. New Jersey Better Educational Savings Trust acquired a new stake in Lam Research during the 4th quarter worth $211,000. Finally, Bank Julius Baer & Co. Ltd Zurich raised its stake in Lam Research by 2.3% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 139,698 shares of the semiconductor company’s stock worth $109,420,000 after buying an additional 3,124 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction that occurred on Monday, March 18th. The shares were 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 in the company, valued at $20,380,648.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction that occurred on Monday, March 18th. The shares were 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 in the company, valued at $20,380,648.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the transaction, the director now directly owns 10,541 shares in the company, valued at $10,246,168.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,029 shares of company stock worth $6,559,489. Corporate insiders own 0.32% of the company’s stock.

Lam Research Trading Up 2.7 %

Shares of LRCX stock opened at $925.37 on Monday. The firm has a 50 day moving average price of $943.67 and a two-hundred day moving average price of $811.51. The company has a quick ratio of 1.84, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $121.32 billion, a PE ratio of 34.03, a price-to-earnings-growth ratio of 2.88 and a beta of 1.51. 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 issued its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.26 by $0.53. The firm had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the business posted $6.99 earnings per share. As a group, analysts predict that Lam Research Co. will post 29.54 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.86%. Lam Research’s dividend payout ratio (DPR) is presently 29.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on LRCX shares. Deutsche Bank Aktiengesellschaft started 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. UBS Group increased their target price on Lam Research from $1,130.00 to $1,150.00 and gave the stock a “buy” rating in a report on Thursday. Evercore ISI initiated coverage on Lam Research in a report on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 price objective for the company. TD Cowen raised their price objective on Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday. Finally, B. Riley upgraded Lam Research from a “neutral” rating to a “buy” rating and raised their price objective for the company from $870.00 to $1,100.00 in a report on Friday, April 19th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $950.85.

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.