BankPlus Trust Department Invests $1.49 Million in Lam Research Co. (NASDAQ:LRCX)

BankPlus Trust Department acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 20,604 shares of the semiconductor company’s stock, valued at approximately $1,488,000.

Other institutional investors have also made changes to their positions in the company. Financial Perspectives Inc lifted its position in Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 309 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in Lam Research in the 4th quarter valued at approximately $27,000. Midwest Capital Advisors LLC bought a new stake in shares of Lam Research in the fourth quarter valued at approximately $27,000. West Oak Capital LLC increased its position in Lam Research by 50.9% during the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 135 shares during the period. Finally, Country Trust Bank boosted its holdings in Lam Research by 900.0% in the 4th quarter. Country Trust Bank now owns 400 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 360 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction on 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 directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LRCX. Morgan Stanley boosted their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and raised their target price for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Wells Fargo & Company increased their price objective on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Barclays dropped their target price on 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. Finally, Mizuho boosted their price objective on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

Lam Research Price Performance

LRCX stock opened at $86.02 on Monday. The company’s 50-day moving average price is $78.46 and its two-hundred day moving average price is $78.04. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The firm has a market cap of $110.42 billion, a P/E ratio of 26.13, a P/E/G ratio of 1.47 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating 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 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 declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 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.