Lam Research Co. (NASDAQ:LRCX) Shares Bought by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. lifted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 8.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 316 shares of the semiconductor company’s stock after buying an additional 25 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Lam Research were worth $336,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Gryphon Financial Partners LLC purchased a new position in shares of Lam Research during the 4th quarter worth approximately $476,000. Gladstone Institutional Advisory LLC increased its position in Lam Research by 5.5% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 693 shares of the semiconductor company’s stock worth $543,000 after buying an additional 36 shares in the last quarter. D.A. Davidson & CO. raised its holdings in shares of Lam Research by 1.2% in the fourth quarter. D.A. Davidson & CO. now owns 10,508 shares of the semiconductor company’s stock worth $8,231,000 after acquiring an additional 124 shares during the last quarter. Assetmark Inc. lifted its position in shares of Lam Research by 18.6% in the fourth quarter. Assetmark Inc. now owns 22,040 shares of the semiconductor company’s stock valued at $17,263,000 after acquiring an additional 3,454 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd boosted its stake in shares of Lam Research by 59.9% during the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 14,992 shares of the semiconductor company’s stock valued at $11,743,000 after acquiring an additional 5,618 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on LRCX shares. Barclays upped their target price on shares of Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. UBS Group reduced their price objective on shares of Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Morgan Stanley lowered their target price on shares of Lam Research from $929.00 to $774.00 and set an “equal weight” rating for the company in a research note on Tuesday. B. Riley increased their price target on Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Finally, StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and an average target price of $1,013.37.

Lam Research Trading Down 1.3 %

Shares of LRCX stock opened at $755.87 on Thursday. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. Lam Research Co. has a fifty-two week low of $574.42 and a fifty-two week high of $1,130.00. The firm’s 50 day moving average price is $847.76 and its two-hundred day moving average price is $928.18. The stock has a market cap of $98.82 billion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48.

Shares of Lam Research are scheduled to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued shares will be distributed to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, topping analysts’ consensus estimates of $7.58 by $0.56. The firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm’s revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the company earned $5.98 EPS. On average, analysts anticipate that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be given a dividend of $2.30 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. This represents a $9.20 annualized dividend and a yield of 1.22%. Lam Research’s payout ratio is 33.84%.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the transaction, the chief accounting officer now directly owns 4,914 shares of the company’s stock, valued at $5,219,945.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the sale, the chief accounting officer now directly owns 4,914 shares of the company’s stock, valued at $5,219,945.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Neil J. Fernandes sold 4,409 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the completion of the transaction, the senior vice president now directly owns 6,857 shares of the company’s stock, valued at approximately $7,239,346.32. The disclosure for this sale can be found here. Insiders sold 16,326 shares of company stock valued at $17,383,715 over the last 90 days. 0.32% of the stock is owned by corporate insiders.

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.