Umpqua Bank Boosts Stock Position in Lam Research Co. (NASDAQ:LRCX)

Umpqua Bank lifted its stake in Lam Research Co. (NASDAQ:LRCX) by 964.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,490 shares of the semiconductor company’s stock after acquiring an additional 39,405 shares during the period. Lam Research accounts for 1.1% of Umpqua Bank’s portfolio, making the stock its 18th largest position. Umpqua Bank’s holdings in Lam Research were worth $3,264,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in LRCX. Financial Perspectives Inc increased its position in Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 309 shares in the last quarter. Fairway Wealth LLC grew its stake in Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 306 shares during the last quarter. Atwood & Palmer Inc. purchased a new stake in Lam Research during the 4th quarter valued at about $27,000. Midwest Capital Advisors LLC purchased a new stake in Lam Research during the 4th quarter valued at about $27,000. Finally, Bell Investment Advisors Inc grew its stake in Lam Research by 836.6% during the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 343 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Oppenheimer began coverage on Lam Research in a research note on Thursday. They set an “outperform” rating and a $95.00 price target on the stock. Mizuho upped their target price on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 target price on shares of Lam Research in a research note on Tuesday, February 18th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of Lam Research in a research report on Thursday, January 30th. Finally, Wells Fargo & Company increased their price target 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. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $98.06.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.29% of the stock is currently owned by company insiders.

Lam Research Price Performance

NASDAQ:LRCX opened at $75.84 on Friday. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The stock has a market cap of $97.35 billion, a PE ratio of 23.04, a P/E/G ratio of 1.47 and a beta of 1.53. The stock has a 50 day moving average price of $79.62 and a 200 day moving average price of $77.32.

Lam Research (NASDAQ:LRCX) last posted its quarterly 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 return on equity of 51.86% and a net margin of 26.49%. Equities research analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.21%. Lam Research’s payout ratio is 27.96%.

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.