Truist Financial Corp Has $224.50 Million Position in Lam Research Corporation $LRCX

Truist Financial Corp raised its stake in Lam Research Corporation (NASDAQ:LRCX) by 119.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,676,637 shares of the semiconductor company’s stock after buying an additional 913,009 shares during the quarter. Truist Financial Corp owned about 0.13% of Lam Research worth $224,502,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. DSG Capital Advisors LLC grew its stake in Lam Research by 4.9% in the third quarter. DSG Capital Advisors LLC now owns 32,314 shares of the semiconductor company’s stock valued at $4,327,000 after purchasing an additional 1,518 shares in the last quarter. J. Safra Sarasin Holding AG acquired a new stake in shares of Lam Research during the 3rd quarter worth about $3,033,000. Paragon Private Wealth Management LLC acquired a new stake in Lam Research during the third quarter worth approximately $289,000. EFG Asset Management North America Corp. lifted its holdings in Lam Research by 6.7% during the 3rd quarter. EFG Asset Management North America Corp. now owns 61,272 shares of the semiconductor company’s stock worth $8,202,000 after purchasing an additional 3,845 shares during the last quarter. Finally, Alta Wealth Advisors LLC bought a new stake in shares of Lam Research in the third quarter valued at about $1,750,000. 84.61% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Bethany Mayer sold 1,298 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $159.99, for a total value of $207,667.02. Following the transaction, the director owned 1,652 shares of the company’s stock, valued at $264,303.48. This represents a 44.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Douglas R. Bettinger sold 40,080 shares of Lam Research stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $150.60, for a total transaction of $6,036,048.00. Following the transaction, the chief financial officer directly owned 987,237 shares in the company, valued at $148,677,892.20. This trade represents a 3.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 41,408 shares of company stock valued at $6,248,501 over the last three months. Insiders own 0.31% of the company’s stock.

Lam Research Stock Up 7.0%

Lam Research stock opened at $238.46 on Wednesday. The firm has a market capitalization of $299.51 billion, a price-to-earnings ratio of 52.52, a price-to-earnings-growth ratio of 2.82 and a beta of 1.77. The company has a current ratio of 2.21, a quick ratio of 1.60 and a debt-to-equity ratio of 0.37. Lam Research Corporation has a 1-year low of $56.32 and a 1-year high of $239.50. The firm’s fifty day moving average price is $181.49 and its two-hundred day moving average price is $143.70.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 7th. Investors of record on Wednesday, December 3rd were given a dividend of $0.26 per share. The ex-dividend date was Wednesday, December 3rd. This represents a $1.04 annualized dividend and a yield of 0.4%. Lam Research’s dividend payout ratio is presently 22.91%.

Analyst Ratings Changes

A number of analysts have recently weighed in on LRCX shares. Sanford C. Bernstein reiterated an “outperform” rating and set a $225.00 target price (up from $175.00) on shares of Lam Research in a research report on Monday, January 12th. Citigroup reissued a “buy” rating and issued a $265.00 price objective (up previously from $190.00) on shares of Lam Research in a research note on Thursday, January 22nd. UBS Group reiterated a “buy” rating and issued a $255.00 target price (up from $200.00) on shares of Lam Research in a research report on Tuesday, January 20th. Jefferies Financial Group reissued a “buy” rating and issued a $200.00 price objective (up previously from $175.00) on shares of Lam Research in a research note on Monday, December 15th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $265.00 target price (up from $210.00) on shares of Lam Research in a report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.81.

Lam Research Profile

Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.

Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.