Haverford Trust Co Acquires 4,842 Shares of Lam Research Co. (NASDAQ:LRCX)

Haverford Trust Co increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 953.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,350 shares of the semiconductor company’s stock after buying an additional 4,842 shares during the quarter. Haverford Trust Co’s holdings in Lam Research were worth $386,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of LRCX. Vanguard Group Inc. grew its position in Lam Research by 892.7% during the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock worth $8,724,498,000 after acquiring an additional 108,619,564 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Lam Research by 892.7% during the fourth quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock worth $1,341,902,000 after purchasing an additional 16,706,708 shares during the last quarter. Amundi increased its stake in shares of Lam Research by 7,601.9% in the fourth quarter. Amundi now owns 12,945,172 shares of the semiconductor company’s stock valued at $990,464,000 after buying an additional 12,777,094 shares during the period. Bank of New York Mellon Corp raised its holdings in Lam Research by 860.4% in the 4th quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company’s stock valued at $851,361,000 after buying an additional 10,559,508 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Lam Research by 931.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,482,429 shares of the semiconductor company’s stock worth $612,686,000 after buying an additional 7,659,830 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.29% of the company’s stock.

Lam Research Stock Down 0.4 %

Shares of NASDAQ LRCX opened at $77.67 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The company has a 50-day moving average price of $79.75 and a 200-day moving average price of $77.31. The stock has a market capitalization of $99.70 billion, a P/E ratio of 23.59, a P/E/G ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. On average, equities research analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal 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 paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.18%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research report on Friday, January 17th. Wells Fargo & Company raised their target price on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Morgan Stanley lifted their target price on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Needham & Company LLC restated a “buy” rating and set a $90.00 price objective on shares of Lam Research in a research report on Thursday, January 30th. Finally, Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and a consensus price target of $98.06.

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.