TIAA Trust National Association Sells 170 Shares of Lam Research Co. (NASDAQ:LRCX)

TIAA Trust National Association decreased its position in Lam Research Co. (NASDAQ:LRCXFree Report) by 3.7% during the fourth quarter, Holdings Channel reports. The fund owned 4,417 shares of the semiconductor company’s stock after selling 170 shares during the period. TIAA Trust National Association’s holdings in Lam Research were worth $3,460,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC lifted its holdings in Lam Research by 117,180.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 32,822,222 shares of the semiconductor company’s stock valued at $13,795,180,000 after acquiring an additional 32,794,236 shares during the period. State Street Corp lifted its holdings in Lam Research by 1.7% in the first quarter. State Street Corp now owns 5,697,200 shares of the semiconductor company’s stock valued at $3,029,550,000 after acquiring an additional 92,606 shares during the period. Geode Capital Management LLC increased its position in Lam Research by 0.8% in the first quarter. Geode Capital Management LLC now owns 2,542,805 shares of the semiconductor company’s stock worth $1,345,403,000 after buying an additional 19,280 shares in the last quarter. Morgan Stanley increased its position in Lam Research by 3.2% in the third quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock worth $1,164,490,000 after buying an additional 56,824 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Lam Research by 10.8% in the third 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 buying an additional 159,815 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

NASDAQ LRCX opened at $967.33 on Wednesday. The stock has a market capitalization of $126.82 billion, a PE ratio of 37.41, a P/E/G ratio of 3.49 and a beta of 1.51. The business has a 50 day simple moving average of $917.08 and a two-hundred day simple moving average of $770.03. 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 1-year low of $480.45 and a 1-year high of $1,007.39.

Lam Research (NASDAQ:LRCXGet Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.06 by $0.46. The business had revenue of $3.76 billion during 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%. The company’s revenue for the quarter was down 28.8% on a year-over-year basis. During the same period last year, the company earned $10.71 EPS. On average, research analysts predict that Lam Research Co. will post 28.88 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Tuesday, March 12th. Lam Research’s payout ratio is 30.94%.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were 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 of the company’s stock, valued at approximately $20,380,648.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Lam Research news, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the transaction, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Insiders sold a total of 7,029 shares of company stock worth $6,559,489 in the last quarter. 0.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LRCX. UBS Group upped their price target on Lam Research from $885.00 to $1,130.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. The Goldman Sachs Group upped their price target on Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Deutsche Bank Aktiengesellschaft cut Lam Research from a “buy” rating to a “hold” rating and upped their price target for the stock from $680.00 to $725.00 in a research report on Tuesday, December 12th. Cantor Fitzgerald restated a “neutral” rating and issued a $900.00 price target on shares of Lam Research in a research report on Monday, March 4th. Finally, Citigroup increased their target price on Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $826.68.

Check Out Our Latest Stock Report on Lam Research

About Lam Research

(Free Report)

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.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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