Heritage Trust Co Sells 4,467 Shares of Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Heritage Trust Co reduced its stake in Lam Research Corporation by 15.9%, selling 4,467 shares, leaving them with 23,542 shares valued at approximately $1.71 million.
• Several institutional investors significantly increased their positions in Lam Research, with FMR LLC's holdings growing by 1,032.6% and Ameriprise Financial Inc. increasing its stake by 950.5% during the fourth quarter.
• Lam Research reported earnings of $1.33 per share for the last quarter, exceeding analysts' expectations, and experienced a 33.6% increase in revenue year-over-year, totaling $5.17 billion.

Heritage Trust Co cut its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 15.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,542 shares of the semiconductor company's stock after selling 4,467 shares during the period. Heritage Trust Co's holdings in Lam Research were worth $1,712,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LRCX. FMR LLC raised its holdings in Lam Research by 1,032.6% during the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock worth $2,891,453,000 after purchasing an additional 36,496,689 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Lam Research by 950.5% in the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock worth $2,495,128,000 after buying an additional 31,255,726 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Lam Research by 909.5% in the fourth quarter. Invesco Ltd. now owns 16,858,135 shares of the semiconductor company's stock valued at $1,217,663,000 after buying an additional 15,188,173 shares during the period. Northern Trust Corp boosted its stake in Lam Research by 1,067.0% during the fourth quarter. Northern Trust Corp now owns 15,869,244 shares of the semiconductor company's stock valued at $1,146,235,000 after buying an additional 14,509,407 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Lam Research by 6,383.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,574,691 shares of the semiconductor company's stock worth $980,500,000 after acquiring an additional 13,365,317 shares during the period. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Up 1.6%

Shares of NASDAQ LRCX traded up $1.53 during mid-day trading on Friday, reaching $96.37. The company had a trading volume of 16,599,413 shares, compared to its average volume of 10,785,127. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.55 and a current ratio of 2.21. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $102.59. The stock's 50 day moving average is $93.96 and its 200-day moving average is $82.44. The stock has a market capitalization of $123.27 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 1.29 and a beta of 1.65.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 EPS for the quarter, beating analysts' consensus estimates of $1.21 by $0.12. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The firm had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. The business's quarterly revenue was up 33.6% compared to the same quarter last year. As a group, equities analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were paid a dividend of $0.23 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.0%. Lam Research's dividend payout ratio is 22.12%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company set a $98.00 price objective on shares of Lam Research and gave the company an "equal weight" rating in a research report on Thursday. UBS Group raised their target price on shares of Lam Research from $95.00 to $120.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $115.00 price target (up previously from $90.00) on shares of Lam Research in a report on Tuesday, June 24th. KeyCorp increased their price objective on Lam Research from $105.00 to $115.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Finally, Barclays set a $83.00 target price on Lam Research and gave the stock an "equal weight" rating in a report on Monday, July 28th. Seven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $107.09.

Lam Research 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.