Riverview Trust Co Buys 979 Shares of Lam Research Co. (NASDAQ:LRCX)

Riverview Trust Co lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 882.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,090 shares of the semiconductor company’s stock after acquiring an additional 979 shares during the quarter. Riverview Trust Co’s holdings in Lam Research were worth $79,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Lam Research by 2,400.0% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock worth $163,000 after purchasing an additional 192 shares during the period. Insight Wealth Partners LLC bought a new position in Lam Research in the 3rd quarter worth $202,000. B&L Asset Management LLC bought a new position in Lam Research in the 3rd quarter worth $204,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Lam Research in the third quarter worth about $220,000. Finally, Concorde Asset Management LLC bought a new position in shares of Lam Research in the third quarter worth about $242,000. 84.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is owned by company insiders.

Lam Research Price Performance

LRCX opened at $76.70 on Friday. The business has a fifty day moving average of $78.94 and a 200 day moving average of $78.07. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The stock has a market cap 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 released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (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%. As a group, sell-side analysts anticipate that Lam Research Co. will post 3.71 EPS 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. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.20%. Lam Research’s dividend payout ratio is currently 27.96%.

Analyst Upgrades and Downgrades

LRCX has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of Lam Research in a research note on Thursday, January 30th. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Mizuho upped their target price on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Barclays dropped their target price 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. Finally, KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a report on Friday, January 17th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

Lam Research Company 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.