Dorsey & Whitney Trust CO LLC Grows Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Dorsey & Whitney Trust CO LLC raised its position in shares of Lam Research Co. (NASDAQ:LRCX) by 976.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 12,352 shares of the semiconductor company’s stock after buying an additional 11,204 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Lam Research were worth $892,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of LRCX. AIA Group Ltd purchased a new position in shares of Lam Research during the third quarter worth $430,000. Leavell Investment Management Inc. boosted its position in shares of Lam Research by 14.7% during the third quarter. Leavell Investment Management Inc. now owns 1,950 shares of the semiconductor company’s stock worth $1,595,000 after buying an additional 250 shares during the period. Equitable Trust Co. raised its stake in shares of Lam Research by 141.2% in the third quarter. Equitable Trust Co. now owns 1,517 shares of the semiconductor company’s stock valued at $1,238,000 after acquiring an additional 888 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Lam Research in the third quarter valued at $2,364,000. Finally, Assetmark Inc. raised its stake in shares of Lam Research by 6.4% in the third quarter. Assetmark Inc. now owns 31,432 shares of the semiconductor company’s stock valued at $25,651,000 after acquiring an additional 1,879 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on LRCX. Barclays reduced their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and raised their price target for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Mizuho raised their price target on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Wells Fargo & Company raised their price target on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Finally, Morgan Stanley raised their price target on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and a consensus target price of $98.22.

Lam Research Price Performance

LRCX stock opened at $79.01 on Monday. The firm has a 50 day moving average of $79.30 and a 200-day moving average of $77.68. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The company has a market cap of $101.42 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, equities analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.16%. Lam Research’s dividend payout ratio is presently 27.96%.

Insider Activity

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the transaction, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.29% of the company’s stock.

About Lam Research

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.