First American Trust FSB Acquires 29,207 Shares of Lam Research Co. (NASDAQ:LRCX)

First American Trust FSB increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1,902.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,742 shares of the semiconductor company’s stock after buying an additional 29,207 shares during the quarter. First American Trust FSB’s holdings in Lam Research were worth $2,221,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Insight Wealth Partners LLC acquired a new stake in shares of Lam Research in the 3rd quarter valued at approximately $202,000. B&L Asset Management LLC bought a new position in Lam Research in the 3rd quarter valued at approximately $204,000. Dynamic Technology Lab Private Ltd acquired a new stake in Lam Research in the third quarter valued at approximately $220,000. Virtus Investment Advisers Inc. bought a new stake in shares of Lam Research during the third quarter worth $245,000. Finally, Qsemble Capital Management LP acquired a new position in shares of Lam Research during the third quarter worth $267,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction on Thursday, February 20th. The shares were 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 owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. 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.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on LRCX shares. Morgan Stanley boosted their price objective on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Mizuho boosted their price target on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and upped their price objective for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Finally, 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 report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.06.

Lam Research Stock Up 2.8 %

Lam Research stock opened at $77.99 on Tuesday. The company has a market capitalization of $100.11 billion, a PE ratio of 23.69, a PEG ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The firm’s fifty day moving average is $79.70 and its 200 day moving average is $77.30. 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 (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share 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%. As a group, sell-side analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed 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 of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.18%. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

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.