Cypress Capital Group Purchases 22,790 Shares of Lam Research Co. (NASDAQ:LRCX)

Cypress Capital Group increased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 622.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,450 shares of the semiconductor company’s stock after acquiring an additional 22,790 shares during the quarter. Cypress Capital Group’s holdings in Lam Research were worth $1,910,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of LRCX. Amalgamated Bank raised its stake in shares of Lam Research by 2.7% during the 3rd quarter. Amalgamated Bank now owns 28,843 shares of the semiconductor company’s stock worth $23,538,000 after acquiring an additional 745 shares in the last quarter. Crestwood Advisors Group LLC raised its stake in shares of Lam Research by 2,112.7% during the 3rd quarter. Crestwood Advisors Group LLC now owns 28,389 shares of the semiconductor company’s stock worth $23,168,000 after acquiring an additional 27,106 shares in the last quarter. Foster & Motley Inc. bought a new position in shares of Lam Research during the 3rd quarter worth approximately $591,000. M&G PLC increased its stake in Lam Research by 21.9% during the 3rd quarter. M&G PLC now owns 24,662 shares of the semiconductor company’s stock valued at $20,124,000 after purchasing an additional 4,431 shares in the last quarter. Finally, Montecito Bank & Trust increased its stake in Lam Research by 109.2% during the 3rd quarter. Montecito Bank & Trust now owns 931 shares of the semiconductor company’s stock valued at $760,000 after purchasing an additional 486 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on LRCX. Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Lam Research in a research note on Thursday, January 30th. Mizuho upped their price target 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 set a $100.00 price target on shares of Lam Research in a research note on Tuesday, February 18th. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and upped their price target for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Finally, Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and upped their price target for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and a consensus target price of $98.22.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $76.44 on Wednesday. The company’s fifty day moving average price is $79.03 and its 200 day moving average price is $77.87. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The company has a market capitalization of $98.12 billion, a PE ratio of 23.22, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. 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 (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) 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%. On average, research analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

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 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 is Wednesday, March 5th. Lam Research’s dividend payout ratio is presently 27.96%.

Insiders Place Their Bets

In other Lam Research 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 transaction of $9,907,200.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by company insiders.

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.