Sandy Spring Bank Grows Position in Lam Research Co. (NASDAQ:LRCX)

Sandy Spring Bank raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1,006.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,018 shares of the semiconductor company’s stock after purchasing an additional 926 shares during the quarter. Sandy Spring Bank’s holdings in Lam Research were worth $74,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Fisher Asset Management LLC boosted its position in shares of Lam Research by 892.7% during the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock valued at $1,341,902,000 after acquiring an additional 16,706,708 shares during the last quarter. Amundi boosted its position in shares of Lam Research by 7,601.9% during the 4th quarter. Amundi now owns 12,945,172 shares of the semiconductor company’s stock valued at $990,464,000 after acquiring an additional 12,777,094 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Lam Research by 860.4% during the 4th quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company’s stock valued at $851,361,000 after acquiring an additional 10,559,508 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Lam Research by 931.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,482,429 shares of the semiconductor company’s stock valued at $612,686,000 after acquiring an additional 7,659,830 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Lam Research by 1.6% during the 3rd quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock valued at $4,817,113,000 after acquiring an additional 94,086 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

LRCX has been the topic of a number of recent analyst reports. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and upped their target price for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. Wells Fargo & Company upped their target price on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of Lam Research in a research report on Thursday, January 30th. Mizuho upped their target price on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $98.06.

Insider Buying and Selling at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the 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 completion of the sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by insiders.

Lam Research Stock Down 2.2 %

LRCX stock opened at $75.84 on Friday. The firm 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. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. 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 company’s 50 day moving average price is $79.62 and its 200 day moving average price is $77.32.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, equities research analysts anticipate that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

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

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.