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

Simmons Bank raised its holdings in Lam Research Co. (NASDAQ:LRCX) by 839.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,740 shares of the semiconductor company’s stock after purchasing an additional 3,342 shares during the quarter. Simmons Bank’s holdings in Lam Research were worth $270,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Lam Research by 2,400.0% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after buying an additional 192 shares in the last quarter. Insight Wealth Partners LLC purchased a new position in Lam Research in the third quarter valued at $202,000. B&L Asset Management LLC acquired a new position in Lam Research during the 3rd quarter worth $204,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Lam Research during the third quarter worth about $220,000. Finally, Tilson Financial Group Inc. purchased a new stake in shares of Lam Research in the 3rd quarter valued at approximately $233,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Down 6.3 %

LRCX opened at $76.17 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. 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 business has a 50 day simple moving average of $78.84 and a 200-day simple moving average of $78.10.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data 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 analysts anticipate 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 given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.96%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wells Fargo & Company increased their price objective on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Mizuho increased 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. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Morgan Stanley lifted their target price 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. Finally, KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research note on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $98.22.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction 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. This trade 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 is available at 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.