First Citizens Bank & Trust Co. decreased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 27.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,621 shares of the semiconductor company’s stock after selling 1,736 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Lam Research were worth $851,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of LRCX. Schroder Investment Management Group grew its position in shares of Lam Research by 63.3% during the 2nd quarter. Schroder Investment Management Group now owns 21,013 shares of the semiconductor company’s stock worth $2,991,000 after buying an additional 8,144 shares in the last quarter. Eaton Vance Management bought a new position in shares of Lam Research during the 2nd quarter worth $4,010,000. Alliancebernstein L.P. grew its position in shares of Lam Research by 21.8% during the 2nd quarter. Alliancebernstein L.P. now owns 346,130 shares of the semiconductor company’s stock worth $48,953,000 after buying an additional 61,986 shares in the last quarter. Raymond James Trust N.A. grew its position in shares of Lam Research by 15.0% during the 2nd quarter. Raymond James Trust N.A. now owns 2,865 shares of the semiconductor company’s stock worth $405,000 after buying an additional 373 shares in the last quarter. Finally, Norinchukin Bank The grew its position in shares of Lam Research by 5.8% during the 2nd quarter. Norinchukin Bank The now owns 11,194 shares of the semiconductor company’s stock worth $1,583,000 after buying an additional 611 shares in the last quarter. 93.37% of the stock is currently owned by institutional investors and hedge funds.

Shares of Lam Research Co. (NASDAQ LRCX) opened at $189.12 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.83 and a current ratio of 3.31. The firm has a market capitalization of $30,630.00, a price-to-earnings ratio of 17.27, a P/E/G ratio of 0.90 and a beta of 1.57. Lam Research Co. has a 12 month low of $106.80 and a 12 month high of $219.70.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. Lam Research had a return on equity of 30.19% and a net margin of 22.85%. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the prior year, the business posted $1.81 EPS. The firm’s quarterly revenue was up 51.8% on a year-over-year basis. analysts anticipate that Lam Research Co. will post 14.74 earnings per share for the current fiscal year.

Lam Research announced that its board has approved a share repurchase plan on Tuesday, November 14th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the semiconductor company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Wednesday, December 6th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, December 5th. This is a boost from Lam Research’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 1.06%. Lam Research’s dividend payout ratio (DPR) is 18.26%.

In other Lam Research news, VP Patrick J. Lord sold 264 shares of the stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $216.08, for a total value of $57,045.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen G. Newberry sold 750 shares of the stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $195.09, for a total value of $146,317.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,019 shares of company stock valued at $6,761,951. 0.41% of the stock is currently owned by company insiders.

A number of equities analysts have recently issued reports on the company. KeyCorp reissued a “buy” rating and set a $225.00 price target on shares of Lam Research in a research report on Sunday, November 19th. B. Riley reissued a “buy” rating and set a $250.00 price target on shares of Lam Research in a research report on Tuesday, November 14th. Royal Bank of Canada increased their price target on Lam Research from $210.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 15th. Deutsche Bank increased their price target on Lam Research to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Finally, Needham & Company LLC increased their price target on Lam Research from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Three investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Lam Research presently has a consensus rating of “Buy” and an average price target of $213.83.

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Lam Research Company Profile

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.

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

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