Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Truist Financial Corp

Truist Financial Corp lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 924.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 430,176 shares of the semiconductor company’s stock after purchasing an additional 388,172 shares during the quarter. Truist Financial Corp’s holdings in Lam Research were worth $31,072,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parisi Gray Wealth Management grew its stake in shares of Lam Research by 652.9% during the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after purchasing an additional 7,241 shares during the period. Burns J W & Co. Inc. NY acquired a new position in shares of Lam Research during the 4th quarter worth $815,000. Jennison Associates LLC grew its stake in shares of Lam Research by 20.0% during the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after purchasing an additional 39,725 shares during the period. Worldquant Millennium Advisors LLC grew its stake in shares of Lam Research by 51.9% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after purchasing an additional 73,648 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Lam Research by 9.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company’s stock worth $278,165,000 after buying an additional 28,089 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a research report on Friday, January 17th. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Mizuho decreased their price objective on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Finally, Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.72.

Lam Research Trading Up 4.6 %

NASDAQ LRCX opened at $86.52 on Wednesday. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The company has a 50-day moving average of $77.58 and a 200-day moving average of $77.79. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The company has a market cap of $111.06 billion, a P/E ratio of 26.28, a P/E/G ratio of 1.37 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, equities analysts predict that Lam Research Co. will post 3.69 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

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.