Amalgamated Bank Purchases 237,496 Shares of Lam Research Co. (NASDAQ:LRCX)

Amalgamated Bank raised its position in Lam Research Co. (NASDAQ:LRCX) by 823.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 266,339 shares of the semiconductor company’s stock after acquiring an additional 237,496 shares during the period. Amalgamated Bank’s holdings in Lam Research were worth $19,238,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Financial Perspectives Inc lifted its stake in Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 309 shares in the last quarter. Atwood & Palmer Inc. bought a new stake in Lam Research in the 4th quarter valued at approximately $27,000. Midwest Capital Advisors LLC bought a new stake in Lam Research in the 4th quarter valued at approximately $27,000. West Oak Capital LLC raised its stake in shares of Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 135 shares in the last quarter. Finally, Country Trust Bank raised its stake in shares of Lam Research by 900.0% during the 4th quarter. Country Trust Bank now owns 400 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 360 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LRCX. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Wells Fargo & Company boosted their target price on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of Lam Research in a report on Thursday, January 30th. Finally, Mizuho upped their price objective on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and an average target price of $98.22.

Lam Research Trading Down 3.1 %

NASDAQ:LRCX opened at $83.34 on Tuesday. The firm’s fifty day moving average is $78.57 and its 200-day moving average is $78.10. 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 52 week low of $68.87 and a 52 week high of $113.00. The firm has a market cap of $106.98 billion, a P/E ratio of 25.32, 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 (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 analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is 27.96%.

Insider Buying and Selling at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.29% of the company’s stock.

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.