Riverview Trust Co Buys 979 Shares of Lam Research Co. (NASDAQ:LRCX)

Riverview Trust Co lifted its position in Lam Research Co. (NASDAQ:LRCX) by 882.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,090 shares of the semiconductor company’s stock after acquiring an additional 979 shares during the quarter. Riverview Trust Co’s holdings in Lam Research were worth $79,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. boosted its stake in 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 acquiring an additional 192 shares during the last quarter. Insight Wealth Partners LLC purchased a new stake in shares of Lam Research during the 3rd quarter worth approximately $202,000. B&L Asset Management LLC bought a new stake in shares of Lam Research in the 3rd quarter worth approximately $204,000. Dynamic Technology Lab Private Ltd purchased a new position in Lam Research in the third quarter valued at approximately $220,000. Finally, Concorde Asset Management LLC bought a new position in Lam Research during the third quarter valued at $242,000. 84.61% of the stock is owned by institutional investors.

Insider Buying and Selling at Lam Research

In other Lam Research 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 value of $9,907,200.00. Following the completion of the transaction, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on LRCX. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 target price on shares of Lam Research in a research note on Tuesday, February 18th. Mizuho boosted their price objective on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research report on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Lam Research in a research report on Thursday, January 30th. Finally, Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and raised their price objective for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.22.

Lam Research Stock Performance

Shares of LRCX opened at $76.70 on Friday. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The company has a market cap of $98.45 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The stock has a 50-day moving average price of $78.94 and a 200-day moving average price of $78.07.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (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%. As a group, equities analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 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.