Nixon Peabody Trust Co. Acquires New Holdings in Lam Research Co. (NASDAQ:LRCX)

Nixon Peabody Trust Co. purchased a new stake in Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,812 shares of the semiconductor company’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Cypress Capital Group grew its position in Lam Research by 3.7% in the 3rd quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock valued at $2,987,000 after purchasing an additional 132 shares during the period. Savvy Advisors Inc. boosted its holdings in Lam Research by 58.3% during the 3rd quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock worth $297,000 after acquiring an additional 134 shares during the last quarter. West Oak Capital LLC boosted its holdings in Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 135 shares during the last quarter. Baldwin Investment Management LLC boosted its holdings in Lam Research by 1.4% during the 3rd quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock worth $8,364,000 after acquiring an additional 137 shares during the last quarter. Finally, Bedell Frazier Investment Counselling LLC boosted its holdings in Lam Research by 10.1% during the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company’s stock worth $1,272,000 after acquiring an additional 143 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX stock opened at $76.70 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The stock has a 50 day moving average price of $78.94 and a two-hundred day moving average price of $78.09. The company has a market capitalization of $98.45 billion, a P/E ratio of 23.30, a PEG ratio of 1.47 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating 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%. Analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.20%. Lam Research’s payout ratio is currently 27.96%.

Analysts Set New Price Targets

LRCX has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Lam Research in a research note on Thursday, January 30th. The Goldman Sachs Group lowered their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Barclays lowered their target price 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. Wells Fargo & Company lifted their target price on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Finally, Morgan Stanley lifted their target price on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $98.22.

Insider Buying and Selling at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s 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 transaction, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.