Texas Capital Bank Wealth Management Services Inc Has $7.33 Million Position in Lam Research Co. (NASDAQ:LRCX)

Texas Capital Bank Wealth Management Services Inc increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 924.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 101,495 shares of the semiconductor company’s stock after purchasing an additional 91,584 shares during the quarter. Texas Capital Bank Wealth Management Services Inc’s holdings in Lam Research were worth $7,331,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of LRCX. Vanguard Group Inc. increased its position in Lam Research by 892.7% in the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock worth $8,724,498,000 after purchasing an additional 108,619,564 shares during the last quarter. FMR LLC lifted its stake in Lam Research by 1,032.6% in the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock valued at $2,891,453,000 after acquiring an additional 36,496,689 shares during the last quarter. Geode Capital Management LLC grew its position in Lam Research by 907.1% in the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock worth $2,265,610,000 after acquiring an additional 28,307,499 shares in the last quarter. Norges Bank acquired a new stake in shares of Lam Research in the 4th quarter valued at $1,661,672,000. Finally, Fisher Asset Management LLC increased its position in Lam Research by 892.7% during the fourth quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock worth $1,341,902,000 after buying an additional 16,706,708 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction 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 transaction, 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 legal filing with the SEC, which is available through this link. Insiders own 0.29% of the company’s stock.

Lam Research Price Performance

Shares of NASDAQ LRCX traded down $4.20 during midday trading on Thursday, reaching $66.91. 3,542,077 shares of the company traded hands, compared to its average volume of 12,026,191. The stock’s 50-day simple moving average is $77.02 and its 200-day simple moving average is $76.65. 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 Co. has a 12 month low of $56.32 and a 12 month high of $113.00. The firm has a market cap of $85.89 billion, a PE ratio of 20.33, a PEG ratio of 1.47 and a beta of 1.52.

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

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research’s payout ratio is presently 27.96%.

Analysts Set New Price Targets

LRCX has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Jefferies Financial Group raised their target price on shares of Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, March 28th. Barclays cut their target price on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Wells Fargo & Company lifted their price objective on 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, Cantor Fitzgerald restated an “overweight” rating and set a $100.00 target price on shares of Lam Research in a research note on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and an average price target of $97.59.

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.