Lam Research Co. (NASDAQ:LRCX) Shares Bought by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 855.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,655 shares of the semiconductor company’s stock after acquiring an additional 18,494 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Lam Research were worth $1,492,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of LRCX. Advisors Asset Management Inc. raised its stake in shares of Lam Research by 3.9% during the third quarter. Advisors Asset Management Inc. now owns 3,859 shares of the semiconductor company’s stock valued at $3,149,000 after purchasing an additional 144 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Lam Research by 9.2% during the third quarter. Pacer Advisors Inc. now owns 24,366 shares of the semiconductor company’s stock valued at $19,885,000 after purchasing an additional 2,062 shares in the last quarter. Eagle Asset Management Inc. raised its stake in shares of Lam Research by 1,111.3% during the third quarter. Eagle Asset Management Inc. now owns 52,036 shares of the semiconductor company’s stock valued at $42,466,000 after purchasing an additional 47,740 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in shares of Lam Research during the third quarter valued at about $778,000. Finally, Nicolet Advisory Services LLC raised its stake in shares of Lam Research by 909.8% during the third quarter. Nicolet Advisory Services LLC now owns 4,514 shares of the semiconductor company’s stock valued at $3,684,000 after purchasing an additional 4,067 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on LRCX shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $100.00 price target on shares of Lam Research in a research report on Tuesday, February 18th. The Goldman Sachs Group dropped their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Morgan Stanley boosted their price target on shares of 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, Barclays dropped their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $98.06.

Lam Research Trading Down 2.2 %

NASDAQ:LRCX opened at $75.84 on Friday. The stock’s 50 day moving average price is $79.62 and its 200 day moving average price is $77.28. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The company has a market capitalization of $97.35 billion, a P/E ratio of 23.04, a P/E/G ratio of 1.47 and a beta of 1.53. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates 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, research analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.21%. Lam Research’s payout ratio is currently 27.96%.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’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 transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.29% of the company’s stock.

Lam Research 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.