Umpqua Bank Acquires 39,405 Shares of Lam Research Co. (NASDAQ:LRCX)

Umpqua Bank grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 964.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,490 shares of the semiconductor company’s stock after acquiring an additional 39,405 shares during the quarter. Lam Research comprises 1.1% of Umpqua Bank’s investment portfolio, making the stock its 18th largest position. Umpqua Bank’s holdings in Lam Research were worth $3,264,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of LRCX. Advisors Asset Management Inc. lifted its position in Lam Research by 3.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,859 shares of the semiconductor company’s stock worth $3,149,000 after buying an additional 144 shares during the last quarter. King Luther Capital Management Corp increased its stake in shares of Lam Research by 17.9% during the third quarter. King Luther Capital Management Corp now owns 15,345 shares of the semiconductor company’s stock valued at $12,523,000 after buying an additional 2,326 shares during the period. Landscape Capital Management L.L.C. increased its stake in shares of Lam Research by 91.1% during the third quarter. Landscape Capital Management L.L.C. now owns 2,507 shares of the semiconductor company’s stock valued at $2,046,000 after buying an additional 1,195 shares during the period. Pacer Advisors Inc. increased its stake in shares of Lam Research by 9.2% during the third quarter. Pacer Advisors Inc. now owns 24,366 shares of the semiconductor company’s stock valued at $19,885,000 after buying an additional 2,062 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Lam Research by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 822,599 shares of the semiconductor company’s stock valued at $671,307,000 after buying an additional 10,868 shares during the period. Institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on LRCX. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Barclays decreased their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Morgan Stanley increased their price objective on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Oppenheimer initiated coverage on Lam Research in a report on Thursday. They issued an “outperform” rating and a $95.00 price objective for the company. Finally, Wells Fargo & Company increased their price objective on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $98.06.

Lam Research Trading Down 2.2 %

Shares of NASDAQ:LRCX opened at $75.84 on Friday. The stock has a market capitalization of $97.35 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 1.47 and a beta of 1.53. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The stock’s 50-day simple moving average is $79.62 and its two-hundred day simple moving average is $77.32. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) 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%. Analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.21%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Insider Activity at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.29% of the stock is owned by corporate insiders.

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.