Hancock Whitney Corp Has $429,000 Position in Lam Research Co. (NASDAQ:LRCX)

Hancock Whitney Corp raised its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 899.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,936 shares of the semiconductor company's stock after buying an additional 5,342 shares during the quarter. Hancock Whitney Corp's holdings in Lam Research were worth $429,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Lam Research by 892.7% in the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock valued at $8,724,498,000 after purchasing an additional 108,619,564 shares during the last quarter. FMR LLC grew its stake in shares of Lam Research by 1,032.6% during the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock valued at $2,891,453,000 after purchasing an additional 36,496,689 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Lam Research by 907.1% in the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock valued at $2,265,610,000 after purchasing an additional 28,307,499 shares in the last quarter. Norges Bank acquired a new position in Lam Research during the 4th quarter worth $1,661,672,000. Finally, Fisher Asset Management LLC boosted its position in Lam Research by 892.7% in the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company's stock valued at $1,341,902,000 after buying an additional 16,706,708 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Morgan Stanley upped their price target on Lam Research from $81.00 to $82.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. B. Riley reaffirmed a "buy" rating on shares of Lam Research in a research note on Thursday, April 24th. TD Securities dropped their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Sanford C. Bernstein raised shares of Lam Research from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft set a $70.00 price target on Lam Research and gave the company a "hold" rating in a research note on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $91.56.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now directly owns 179,084 shares of the company's stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.29% of the stock is owned by insiders.

Lam Research Stock Up 4.2 %

Shares of NASDAQ LRCX traded up $3.04 during trading hours on Friday, hitting $74.77. The company had a trading volume of 5,211,673 shares, compared to its average volume of 12,109,868. Lam Research Co. has a 1-year low of $56.32 and a 1-year high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The firm's 50 day moving average is $71.95 and its 200-day moving average is $75.15. The stock has a market capitalization of $95.63 billion, a P/E ratio of 22.75, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period in the previous year, the business earned $7.79 EPS. Lam Research's revenue for the quarter was up 24.4% compared to the same quarter last year. On average, analysts expect that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.23%. Lam Research's dividend payout ratio is currently 25.63%.

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.