Intrust Bank NA lessened its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 7.8% during the first quarter, HoldingsChannel reports. The firm owned 4,051 shares of the semiconductor company’s stock after selling 342 shares during the period. Intrust Bank NA’s holdings in Lam Research were worth $726,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. lifted its stake in shares of Lam Research by 1.6% in the fourth quarter. BlackRock Inc. now owns 11,429,062 shares of the semiconductor company’s stock worth $1,556,294,000 after acquiring an additional 178,331 shares in the last quarter. Weiss Multi Strategy Advisers LLC acquired a new position in shares of Lam Research in the fourth quarter worth about $3,404,000. Parametric Portfolio Associates LLC lifted its stake in shares of Lam Research by 20.5% in the first quarter. Parametric Portfolio Associates LLC now owns 634,194 shares of the semiconductor company’s stock worth $113,527,000 after acquiring an additional 108,066 shares in the last quarter. Dupont Capital Management Corp lifted its stake in shares of Lam Research by 4.6% in the fourth quarter. Dupont Capital Management Corp now owns 30,242 shares of the semiconductor company’s stock worth $4,118,000 after acquiring an additional 1,325 shares in the last quarter. Finally, Lcnb Corp acquired a new position in shares of Lam Research in the fourth quarter worth about $204,000. Institutional investors own 86.53% of the company’s stock.

Several research analysts recently commented on LRCX shares. Mizuho reiterated a “buy” rating and issued a $180.00 price target on shares of Lam Research in a research note on Tuesday, April 16th. Citigroup reiterated a “buy” rating and issued a $215.00 price target (up previously from $177.00) on shares of Lam Research in a research note on Friday, March 15th. Needham & Company LLC boosted their price target on Lam Research from $180.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. B. Riley upgraded Lam Research from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $170.00 to $235.00 in a research note on Monday, April 22nd. Finally, Morgan Stanley cut Lam Research from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the stock. Lam Research currently has a consensus rating of “Hold” and an average price target of $224.78.

In other news, Director Abhijit Y. Talwalkar sold 3,988 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $195.00, for a total transaction of $777,660.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Richard A. Gottscho sold 2,155 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $209.00, for a total value of $450,395.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,556 shares of company stock valued at $5,252,080. 0.44% of the stock is owned by corporate insiders.

Lam Research stock traded up $1.44 during midday trading on Tuesday, hitting $173.87. The stock had a trading volume of 10,594 shares, compared to its average volume of 1,907,480. The company has a quick ratio of 2.79, a current ratio of 3.37 and a debt-to-equity ratio of 0.71. The firm has a market cap of $26.00 billion, a P/E ratio of 9.74, a P/E/G ratio of 1.02 and a beta of 1.63. Lam Research Co. has a 12 month low of $122.64 and a 12 month high of $209.50.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $3.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.38 by $0.32. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. Lam Research had a return on equity of 46.66% and a net margin of 25.64%. Lam Research’s quarterly revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the company earned $4.79 earnings per share. As a group, equities research analysts anticipate that Lam Research Co. will post 14.33 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Wednesday, June 12th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.53%. The ex-dividend date is Tuesday, June 11th. Lam Research’s dividend payout ratio is currently 24.62%.

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Lam Research Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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

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