Intrust Bank NA Has $3.19 Million Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Intrust Bank NA increased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 844.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 44,109 shares of the semiconductor company’s stock after buying an additional 39,441 shares during the quarter. Intrust Bank NA’s holdings in Lam Research were worth $3,186,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Algert Global LLC grew its position in Lam Research by 40.5% in the 3rd quarter. Algert Global LLC now owns 694 shares of the semiconductor company’s stock valued at $566,000 after purchasing an additional 200 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Lam Research during the third quarter valued at about $220,000. Loomis Sayles & Co. L P bought a new stake in shares of Lam Research during the third quarter worth about $486,000. Townsquare Capital LLC raised its holdings in shares of Lam Research by 20.9% in the 3rd quarter. Townsquare Capital LLC now owns 7,591 shares of the semiconductor company’s stock worth $6,195,000 after acquiring an additional 1,310 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Lam Research by 6.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,127 shares of the semiconductor company’s stock valued at $45,804,000 after acquiring an additional 3,366 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Down 2.9 %

Lam Research stock opened at $72.61 on Friday. The firm has a 50 day simple moving average of $79.51 and a 200 day simple moving average of $77.28. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00. The firm has a market capitalization of $93.21 billion, a price-to-earnings ratio of 22.06, a P/E/G ratio of 1.47 and a beta of 1.53.

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

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.27%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LRCX. Barclays lowered their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and increased their price target for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. Mizuho lifted their price objective on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Finally, 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 report on Thursday, December 5th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.59.

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.