56 Shares in Lam Research Co. (NASDAQ:LRCX) Bought by Avalon Trust Co

Avalon Trust Co purchased a new stake in shares of Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 56 shares of the semiconductor company’s stock, valued at approximately $44,000.

Other institutional investors have also added to or reduced their stakes in the company. National Bank of Canada FI increased its position in shares of Lam Research by 70.3% in the fourth quarter. National Bank of Canada FI now owns 195,670 shares of the semiconductor company’s stock valued at $146,615,000 after acquiring an additional 80,793 shares during the period. Vestmark Advisory Solutions Inc. grew its stake in shares of Lam Research by 36.6% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 701 shares of the semiconductor company’s stock worth $549,000 after purchasing an additional 188 shares during the last quarter. Royal Fund Management LLC increased its holdings in Lam Research by 5.0% during the 4th quarter. Royal Fund Management LLC now owns 6,074 shares of the semiconductor company’s stock valued at $4,769,000 after purchasing an additional 289 shares during the period. AJOVista LLC purchased a new position in shares of Lam Research during the fourth quarter valued at approximately $102,000. Finally, VeraBank N.A. boosted its holdings in Lam Research by 7.4% in the fourth quarter. VeraBank N.A. now owns 567 shares of the semiconductor company’s stock valued at $444,000 after acquiring an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insiders Place Their Bets

In other Lam Research news, EVP Patrick J. Lord sold 60 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $921.54, for a total value of $55,292.40. Following the completion of the sale, the executive vice president now owns 4,454 shares in the company, valued at approximately $4,104,539.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction on 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 $20,380,648.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Patrick J. Lord sold 60 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $921.54, for a total transaction of $55,292.40. Following the transaction, the executive vice president now directly owns 4,454 shares of the company’s stock, valued at $4,104,539.16. The disclosure for this sale can be found here. Insiders sold a total of 7,089 shares of company stock worth $6,614,781 over the last three months. 0.32% of the stock is currently owned by company insiders.

Lam Research Stock Performance

Shares of NASDAQ:LRCX traded up $24.85 during midday trading on Friday, hitting $908.53. The company had a trading volume of 875,385 shares, compared to its average volume of 1,105,338. The company has a market cap of $119.11 billion, a price-to-earnings ratio of 33.41, a PEG ratio of 2.82 and a beta of 1.51. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84. The company has a fifty day moving average of $941.31 and a two-hundred day moving average of $820.25. Lam Research Co. has a 12-month low of $507.19 and a 12-month high of $1,007.39.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The business had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the prior year, the business posted $6.99 earnings per share. The business’s quarterly revenue was down 2.0% on a year-over-year basis. On average, equities research analysts expect that Lam Research Co. will post 29.62 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s dividend payout ratio is currently 29.42%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LRCX. TD Cowen upped their price objective on shares of Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Wells Fargo & Company increased their price target on shares of Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. lifted their price objective on Lam Research from $900.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Raymond James raised their target price on Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, Stifel Nicolaus upped their price target on Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $950.85.

Lam Research 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.