Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Truist Financial Corp

Truist Financial Corp increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 924.1% in the fourth quarter, Holdings Channel reports. The firm owned 430,176 shares of the semiconductor company’s stock after acquiring an additional 388,172 shares during the period. Truist Financial Corp’s holdings in Lam Research were worth $31,072,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cypress Capital Group boosted its position in Lam Research by 3.7% during the 3rd quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock worth $2,987,000 after acquiring an additional 132 shares during the period. Savvy Advisors Inc. boosted its position in Lam Research by 58.3% during the 3rd quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock worth $297,000 after acquiring an additional 134 shares during the period. West Oak Capital LLC boosted its position in Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 135 shares during the period. Baldwin Investment Management LLC boosted its position in Lam Research by 1.4% during the 3rd 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 boosted its position in Lam Research by 10.1% during the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company’s stock worth $1,272,000 after acquiring an additional 143 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $86.52 on Wednesday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $77.58 and its two-hundred day moving average is $77.79. The company has a market cap of $111.06 billion, a P/E ratio of 26.28, a P/E/G ratio of 1.37 and a beta of 1.46. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX) last issued 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 return on equity of 51.86% and a net margin of 26.49%. On average, equities analysts expect that Lam Research Co. will post 3.69 EPS for the current year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.06%. 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 equities research analysts have commented on the company. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. The Goldman Sachs Group reduced their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Finally, Wells Fargo & Company lifted their price target on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and an average target price of $95.72.

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.