Parkside Financial Bank & Trust Increases Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Parkside Financial Bank & Trust lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 13.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 587 shares of the semiconductor company’s stock after acquiring an additional 68 shares during the period. Parkside Financial Bank & Trust’s holdings in Lam Research were worth $460,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Morgan Stanley increased its holdings in Lam Research by 3.2% during the 3rd quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock worth $1,164,490,000 after purchasing an additional 56,824 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Lam Research by 10.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock worth $1,029,386,000 after purchasing an additional 159,815 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Lam Research by 9.7% in the 3rd quarter. Northern Trust Corp now owns 1,523,215 shares of the semiconductor company’s stock valued at $954,705,000 after acquiring an additional 134,558 shares during the last quarter. WCM Investment Management LLC increased its holdings in shares of Lam Research by 0.6% in the 4th quarter. WCM Investment Management LLC now owns 600,594 shares of the semiconductor company’s stock valued at $474,271,000 after acquiring an additional 3,717 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Lam Research by 12.0% in the 4th quarter. Nordea Investment Management AB now owns 453,787 shares of the semiconductor company’s stock valued at $355,025,000 after acquiring an additional 48,482 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the transaction, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the sale, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock valued at $6,559,489 over the last three months. Company insiders own 0.32% of the company’s stock.

Lam Research Price Performance

Shares of LRCX traded up $17.30 during midday trading on Tuesday, reaching $885.37. The stock had a trading volume of 560,221 shares, compared to its average volume of 1,051,577. The firm’s 50 day moving average price is $944.64 and its 200-day moving average price is $804.00. The company has a market capitalization of $116.07 billion, a P/E ratio of 33.57, a P/E/G ratio of 3.15 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. Lam Research Co. has a 52 week low of $493.42 and a 52 week high of $1,007.39.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.06 by $0.46. The company had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.71 billion. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. Lam Research’s revenue for the quarter was down 28.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $10.71 earnings per share. On average, analysts forecast that Lam Research Co. will post 28.92 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is presently 30.94%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Mizuho boosted their price target on Lam Research from $900.00 to $935.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Wells Fargo & Company boosted their price target on Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. B. Riley upgraded Lam Research from a “neutral” rating to a “buy” rating and boosted their price target for the company from $870.00 to $1,100.00 in a report on Friday. Cantor Fitzgerald boosted their price target on Lam Research from $900.00 to $1,100.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Finally, UBS Group boosted their price target on Lam Research from $885.00 to $1,130.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and an average price target of $931.85.

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.