First American Trust FSB Takes $248,000 Position in Lam Research Co. (NASDAQ:LRCX)

First American Trust FSB purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 316 shares of the semiconductor company’s stock, valued at approximately $248,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Valued Wealth Advisors LLC acquired a new position in Lam Research during the 4th quarter worth about $30,000. Orion Capital Management LLC bought a new position in Lam Research in the 3rd quarter valued at $25,000. BluePath Capital Management LLC acquired a new stake in shares of Lam Research in the 3rd quarter valued at $28,000. Asset Dedication LLC boosted its holdings in Lam Research by 56.7% in the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 17 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new stake in Lam Research in the third quarter worth about $30,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lam Research

In other news, CAO Christina Corrreia sold 647 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the transaction, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the transaction, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were 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 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 valued at $6,559,489 in the last quarter. Insiders own 0.32% of the company’s stock.

Lam Research Price Performance

Shares of LRCX stock traded up $7.98 during trading on Tuesday, hitting $954.15. The company had a trading volume of 87,350 shares, compared to its average volume of 1,011,304. The firm has a market capitalization of $125.09 billion, a P/E ratio of 36.59, a price-to-earnings-growth ratio of 3.47 and a beta of 1.51. Lam Research Co. has a one year low of $482.74 and a one year high of $1,007.39. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The stock’s 50-day moving average price is $941.93 and its 200 day moving average price is $794.36.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data 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. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the prior year, the company posted $10.71 earnings per share. The business’s revenue for the quarter was down 28.8% on a year-over-year basis. Equities analysts expect that Lam Research Co. will post 28.9 EPS 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 issued a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.84%. Lam Research’s dividend payout ratio (DPR) is currently 30.94%.

Analysts Set New Price Targets

A number of brokerages have issued reports on LRCX. Cantor Fitzgerald raised their price objective on shares of Lam Research from $900.00 to $1,100.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Needham & Company LLC increased their target price on shares of Lam Research from $800.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Barclays raised their price target on Lam Research from $750.00 to $825.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of Lam Research in a report on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 price target for the company. Finally, Wells Fargo & Company increased their target price on Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $875.55.

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.