M&T Bank Corp Has $8.20 Million Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

M&T Bank Corp increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 960.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 113,566 shares of the semiconductor company’s stock after acquiring an additional 102,861 shares during the period. M&T Bank Corp’s holdings in Lam Research were worth $8,202,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LRCX. Parisi Gray Wealth Management boosted its holdings in Lam Research by 652.9% during the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock valued at $603,000 after purchasing an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY acquired a new stake in Lam Research in the 4th quarter valued at $815,000. Centerpoint Advisors LLC boosted its stake in Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock valued at $72,000 after buying an additional 900 shares in the last quarter. Jennison Associates LLC grew its position in Lam Research by 20.0% in the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after acquiring an additional 39,725 shares during the period. Finally, Worldquant Millennium Advisors LLC raised its stake in Lam Research by 51.9% during the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after acquiring an additional 73,648 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LRCX shares. Mizuho boosted their target price on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 price target on shares of Lam Research in a research report on Tuesday, February 18th. Morgan Stanley raised their price objective 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. Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Finally, KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a research report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

Insider Transactions at Lam Research

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

Lam Research Stock Down 3.3 %

Shares of NASDAQ:LRCX opened at $76.47 on Friday. The company has a 50 day moving average of $79.19 and a 200-day moving average of $77.81. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00. The stock has a market cap of $98.16 billion, a price-to-earnings ratio of 23.23, a P/E/G ratio of 1.47 and a beta of 1.46. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, sell-side analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

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

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.