9,762 Shares in Lam Research Co. (NASDAQ:LRCX) Purchased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI bought a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 9,762 shares of the semiconductor company’s stock, valued at approximately $705,000.

Other hedge funds have also recently bought and sold shares of the company. Parisi Gray Wealth Management lifted its stake in Lam Research by 652.9% during the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after acquiring an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY acquired a new position in Lam Research during the 4th quarter worth about $815,000. Centerpoint Advisors LLC lifted its stake in Lam Research by 900.0% during the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock worth $72,000 after acquiring an additional 900 shares in the last quarter. Jennison Associates LLC lifted its stake in Lam Research by 20.0% during the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after acquiring an additional 39,725 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its stake in Lam Research by 51.9% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after acquiring an additional 73,648 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s 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 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

LRCX has been the topic of several recent research reports. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a report on Friday, January 17th. Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Mizuho upped 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. The Goldman Sachs Group cut their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $98.22.

Lam Research Stock Up 4.4 %

LRCX opened at $76.59 on Thursday. 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 business has a 50 day simple moving average of $79.44 and a 200-day simple moving average of $77.46. The stock has a market capitalization of $98.32 billion, a P/E ratio of 23.27, a P/E/G 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.

Lam Research (NASDAQ:LRCX) last posted 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 return on equity of 51.86% and a net margin of 26.49%. On average, equities analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

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

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.