Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Zions Bancorporation N.A.

Zions Bancorporation N.A. lifted its holdings in Lam Research Co. (NASDAQ:LRCX) by 1,057.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,191 shares of the semiconductor company’s stock after purchasing an additional 3,829 shares during the quarter. Zions Bancorporation N.A.’s holdings in Lam Research were worth $303,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Financial Perspectives Inc increased its stake in Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 309 shares during the period. Fairway Wealth LLC increased its stake in shares of Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 306 shares during the period. Atwood & Palmer Inc. bought a new stake in Lam Research during the fourth quarter worth approximately $27,000. Midwest Capital Advisors LLC acquired a new stake in Lam Research in the fourth quarter worth approximately $27,000. Finally, Bell Investment Advisors Inc boosted its stake in Lam Research by 836.6% during the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 343 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LRCX. Mizuho boosted their price objective on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Barclays reduced their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $100.00 target price on shares of Lam Research in a report on Tuesday, February 18th. Finally, Morgan Stanley raised their target price on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $98.06.

Insider Activity at Lam Research

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

Lam Research Stock Performance

Shares of LRCX opened at $76.14 on Thursday. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The company has a market capitalization of $97.74 billion, a PE ratio of 23.13, a PEG ratio of 1.47 and a beta of 1.53. The company’s 50 day moving average price is $79.75 and its 200 day moving average price is $77.33.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Research analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.21%. Lam Research’s dividend payout ratio is 27.96%.

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.