Trust Co. of Toledo NA OH Has $1.69 Million Holdings in Lam Research Co. (NASDAQ:LRCX)

Trust Co. of Toledo NA OH lifted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 2.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,074 shares of the semiconductor company’s stock after purchasing an additional 49 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Lam Research were worth $1,693,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. acquired a new stake in Lam Research in the 2nd quarter valued at $32,000. RFP Financial Group LLC boosted its stake in Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares in the last quarter. Raleigh Capital Management Inc. boosted its stake in Lam Research by 78.6% in the 4th quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 22 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in Lam Research in the 2nd quarter valued at $40,000. Finally, Country Trust Bank acquired a new stake in Lam Research in the 2nd quarter valued at $43,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Trading Up 2.1 %

NASDAQ:LRCX opened at $814.09 on Thursday. Lam Research Co. has a 1-year low of $574.42 and a 1-year high of $1,130.00. The business’s 50-day moving average price is $95.60 and its two-hundred day moving average price is $96.91. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $106.43 billion, a price-to-earnings ratio of 29.94, a PEG ratio of 1.51 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.05. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The company’s quarterly revenue was up 20.7% on a year-over-year basis. On average, equities analysts expect that Lam Research Co. will post 35.2 earnings per share for the current year.

Lam Research Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were issued a $0.23 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 annualized dividend and a dividend yield of 0.11%. Lam Research’s dividend payout ratio (DPR) is currently 33.84%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. TD Cowen lifted their price objective on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Raymond James lifted their price objective on Lam Research from $95.00 to $106.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. Barclays lifted their price objective on Lam Research from $86.50 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. Wells Fargo & Company cut their price objective on Lam Research from $110.00 to $100.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Finally, Cantor Fitzgerald cut their price objective on Lam Research from $120.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.23.

Insider Buying and Selling

In related news, SVP Neil J. Fernandes sold 16,200 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $105.70, for a total transaction of $1,712,323.80. Following the completion of the transaction, the senior vice president now directly owns 52,370 shares in the company, valued at $5,535,456.63. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Christina Correia sold 647 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Neil J. Fernandes sold 16,200 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $105.70, for a total value of $1,712,323.80. Following the completion of the transaction, the senior vice president now owns 52,370 shares of the company’s stock, valued at $5,535,456.63. The disclosure for this sale can be found here. 0.32% of the stock is owned by corporate insiders.

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.