Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Huntington National Bank

Huntington National Bank grew its stake in Lam Research Co. (NASDAQ:LRCX) by 2.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,235 shares of the semiconductor company’s stock after buying an additional 770 shares during the quarter. Huntington National Bank’s holdings in Lam Research were worth $23,042,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of LRCX. Van ECK Associates Corp raised its holdings in Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after purchasing an additional 15,005,178 shares during the period. Vanguard Group Inc. raised its holdings in Lam Research by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after purchasing an additional 144,914 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Lam Research by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after purchasing an additional 142,903 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Lam Research by 7.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock worth $1,335,522,000 after purchasing an additional 89,470 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Lam Research by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock worth $654,009,000 after purchasing an additional 25,362 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the sale, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by insiders.

Lam Research Stock Performance

Shares of LRCX stock opened at $73.85 on Thursday. The stock’s 50-day moving average is $77.42 and its two-hundred day moving average is $88.34. The firm has a market cap of $95.02 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 1.20 and a beta of 1.48. Lam Research Co. has a 1 year low of $68.39 and a 1 year high of $113.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter last year, the company posted $6.85 earnings per share. The business’s revenue was up 19.7% on a year-over-year basis. Analysts predict that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be given a $0.23 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.25%. Lam Research’s payout ratio is currently 29.74%.

Wall Street Analysts Forecast Growth

LRCX has been the subject of a number of analyst reports. B. Riley reduced their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Citigroup cut their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. BNP Paribas upgraded Lam Research to a “hold” rating in a research note on Thursday, October 24th. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Finally, UBS Group cut their price objective on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $97.03.

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.