First Interstate Bank Has $284,000 Stock Position in Lam Research Co. (NASDAQ:LRCX)

First Interstate Bank increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 7.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 363 shares of the semiconductor company’s stock after buying an additional 25 shares during the quarter. First Interstate Bank’s holdings in Lam Research were worth $284,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC raised its stake in shares of Lam Research by 117,180.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 32,822,222 shares of the semiconductor company’s stock valued at $13,795,180,000 after purchasing an additional 32,794,236 shares during the period. Norges Bank acquired a new stake in shares of Lam Research in the 4th quarter valued at about $619,226,000. Morgan Stanley raised its stake in shares of Lam Research by 34.8% in the 4th quarter. Morgan Stanley now owns 1,651,084 shares of the semiconductor company’s stock valued at $693,952,000 after purchasing an additional 425,918 shares during the period. International Assets Investment Management LLC raised its stake in shares of Lam Research by 76,165.7% in the 4th quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company’s stock valued at $249,099,000 after purchasing an additional 317,611 shares during the period. Finally, Cerity Partners LLC raised its stake in shares of Lam Research by 1,125.6% in the 4th quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company’s stock valued at $267,984,000 after purchasing an additional 314,224 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Buying and Selling

In related news, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the sale, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the sale, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christina Corrreia sold 647 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock worth $6,559,489 in the last quarter. Insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Cantor Fitzgerald lifted their price target on Lam Research from $900.00 to $1,100.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Deutsche Bank Aktiengesellschaft started coverage on Lam Research in a report on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 price objective for the company. Wells Fargo & Company raised 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. Mizuho lifted their price target on Lam Research from $900.00 to $935.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Needham & Company LLC lifted their price target on Lam Research from $800.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $875.55.

Lam Research Stock Down 2.7 %

Shares of NASDAQ LRCX traded down $26.07 during trading on Wednesday, hitting $937.16. 154,734 shares of the company traded hands, compared to its average volume of 1,005,124. The business’s fifty day moving average is $944.50 and its 200 day moving average is $796.73. Lam Research Co. has a fifty-two week low of $482.74 and a fifty-two week high of $1,007.39. The firm has a market capitalization of $122.86 billion, a price-to-earnings ratio of 37.25, a P/E/G ratio of 3.43 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating the consensus estimate of $7.06 by $0.46. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the prior year, the business earned $10.71 earnings per share. The business’s quarterly revenue was down 28.8% compared to the same quarter last year. Equities research analysts predict that Lam Research Co. will post 28.9 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 annualized dividend and a dividend yield of 0.85%. Lam Research’s dividend payout ratio is currently 30.94%.

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.