Cadence Bank Raises Stake in Lam Research Co. (NASDAQ:LRCX)

Cadence Bank boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 894.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 26,241 shares of the semiconductor company’s stock after purchasing an additional 23,602 shares during the period. Cadence Bank’s holdings in Lam Research were worth $1,895,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. West Oak Capital LLC boosted its holdings in shares of Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 135 shares during the period. Diversified Trust Co lifted its holdings in shares of Lam Research by 8.3% in the 4th quarter. Diversified Trust Co now owns 3,741 shares of the semiconductor company’s stock worth $270,000 after buying an additional 286 shares during the period. McLean Asset Management Corp grew its position in shares of Lam Research by 6.3% during the 4th quarter. McLean Asset Management Corp now owns 5,122 shares of the semiconductor company’s stock worth $370,000 after buying an additional 302 shares in the last quarter. Fairway Wealth LLC raised its holdings in shares of Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 306 shares in the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC lifted its stake in Lam Research by 159.1% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 307 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction 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 $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LRCX. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $85.00 to $91.00 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 research report on Friday, January 10th. Mizuho raised their price target on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Oppenheimer decreased their target price on shares of Lam Research from $95.00 to $80.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Finally, KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a report on Friday, January 17th. Six equities research 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 currently has a consensus rating of “Moderate Buy” and an average target price of $93.87.

Lam Research Stock Performance

LRCX opened at $63.76 on Friday. The stock has a market cap of $81.85 billion, a P/E ratio of 19.37, a P/E/G ratio of 1.47 and a beta of 1.52. 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 firm has a fifty day moving average price of $74.79 and a 200 day moving average price of $75.96. Lam Research Co. has a 1 year low of $56.32 and a 1 year high of $113.00.

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

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

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.