Smithfield Trust Co Raises Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Smithfield Trust Co grew its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 900.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 14,360 shares of the semiconductor company’s stock after buying an additional 12,924 shares during the quarter. Smithfield Trust Co’s holdings in Lam Research were worth $1,038,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Cypress Capital Group boosted its holdings in Lam Research by 3.7% in the third quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock worth $2,987,000 after purchasing an additional 132 shares during the last quarter. Savvy Advisors Inc. boosted its stake in shares of Lam Research by 58.3% in the 3rd quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock worth $297,000 after buying an additional 134 shares during the last quarter. West Oak Capital LLC boosted its stake in shares of Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after buying an additional 135 shares during the last quarter. Baldwin Investment Management LLC grew its holdings in shares of Lam Research by 1.4% in the third quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock worth $8,364,000 after acquiring an additional 137 shares during the period. Finally, Bedell Frazier Investment Counselling LLC increased its position in Lam Research by 10.1% during the third quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company’s stock valued at $1,272,000 after acquiring an additional 143 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Lam Research Trading Up 0.9 %

Lam Research stock opened at $76.44 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The firm’s 50 day moving average price is $79.03 and its 200-day moving average price is $77.87. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The stock has a market cap of $98.12 billion, a P/E ratio of 23.22, a PEG ratio of 1.47 and a beta of 1.46.

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

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.20%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is presently 27.96%.

Insiders Place Their Bets

In other Lam Research 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 transaction, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LRCX. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a research report on Friday, January 17th. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. Morgan Stanley upped their target price on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Wells Fargo & Company lifted their price target on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Finally, Barclays decreased their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

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.