Avalon Trust Co Makes New Investment in Lam Research Co. (NASDAQ:LRCX)

Avalon Trust Co acquired a new stake in Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 56 shares of the semiconductor company’s stock, valued at approximately $44,000.

Several other institutional investors also recently modified their holdings of the company. National Bank of Canada FI increased its position in Lam Research by 70.3% during the fourth quarter. National Bank of Canada FI now owns 195,670 shares of the semiconductor company’s stock worth $146,615,000 after buying an additional 80,793 shares during the last quarter. Vestmark Advisory Solutions Inc. raised its stake in Lam Research by 36.6% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 701 shares of the semiconductor company’s stock valued at $549,000 after acquiring an additional 188 shares during the period. Royal Fund Management LLC lifted its holdings in Lam Research by 5.0% during the 4th quarter. Royal Fund Management LLC now owns 6,074 shares of the semiconductor company’s stock valued at $4,769,000 after purchasing an additional 289 shares during the last quarter. AJOVista LLC bought a new position in Lam Research during the fourth quarter worth $102,000. Finally, VeraBank N.A. increased its holdings in shares of Lam Research by 7.4% in the fourth quarter. VeraBank N.A. now owns 567 shares of the semiconductor company’s stock valued at $444,000 after purchasing an additional 39 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Price Performance

Lam Research stock traded up $24.85 during midday trading on Friday, reaching $908.53. The company’s stock had a trading volume of 875,385 shares, compared to its average volume of 1,105,338. The company has a current ratio of 2.82, a quick ratio of 1.84 and a debt-to-equity ratio of 0.56. The stock has a market cap of $119.11 billion, a PE ratio of 33.41, a price-to-earnings-growth ratio of 2.82 and a beta of 1.51. Lam Research Co. has a 52 week low of $507.19 and a 52 week high of $1,007.39. The business has a 50-day moving average price of $941.31 and a 200-day moving average price of $820.25.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The business had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the prior year, the company earned $6.99 EPS. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, sell-side analysts predict that Lam Research Co. will post 29.62 EPS for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were given a dividend of $2.00 per share. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a yield of 0.88%. Lam Research’s dividend payout ratio is currently 29.42%.

Insiders Place Their Bets

In related news, EVP Patrick J. Lord sold 60 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $921.54, for a total value of $55,292.40. Following the completion of the transaction, the executive vice president now owns 4,454 shares in the company, valued at approximately $4,104,539.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Patrick J. Lord sold 60 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $921.54, for a total value of $55,292.40. Following the completion of the sale, the executive vice president now directly owns 4,454 shares in the company, valued at $4,104,539.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the transaction, the director now directly owns 10,541 shares in the company, valued at $10,246,168.23. The disclosure for this sale can be found here. Insiders sold a total of 7,089 shares of company stock valued at $6,614,781 in the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Evercore ISI assumed coverage on shares of Lam Research in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 target price for the company. JPMorgan Chase & Co. upped their target price on Lam Research from $900.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company upped their price objective on Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. Finally, Citigroup lifted their target price on Lam Research from $975.00 to $1,025.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $950.85.

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.