M&T Bank Corp Cuts Stock Position in Lam Research Co. (NASDAQ:LRCX)

M&T Bank Corp decreased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,147 shares of the semiconductor company’s stock after selling 317 shares during the period. M&T Bank Corp’s holdings in Lam Research were worth $10,298,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in LRCX. Orion Capital Management LLC purchased a new position in shares of Lam Research during the third quarter valued at about $25,000. BluePath Capital Management LLC purchased a new position in Lam Research in the third quarter worth about $28,000. OFI Invest Asset Management purchased a new position in Lam Research in the third quarter worth about $30,000. Asset Dedication LLC grew its position in Lam Research by 56.7% in the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 17 shares in the last quarter. Finally, Valued Wealth Advisors LLC bought a new stake in Lam Research in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the transaction, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Lam Research news, 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 sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the sale, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The disclosure for this sale can be found here. Insiders sold a total of 7,089 shares of company stock worth $6,614,781 in the last three months. 0.32% of the stock is owned by corporate insiders.

Lam Research Stock Performance

LRCX opened at $908.53 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84. The firm has a fifty day moving average price of $941.31 and a 200 day moving average price of $820.25. Lam Research Co. has a 1 year low of $507.19 and a 1 year high of $1,007.39. The stock has a market cap of $118.78 billion, a P/E ratio of 33.41, a P/E/G ratio of 2.82 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.26 by $0.53. The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The business’s revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $6.99 EPS. Equities research analysts anticipate that Lam Research Co. will post 29.62 earnings per share for the current year.

Lam Research Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Lam Research from $900.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Raymond James lifted their price target on shares of Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Mizuho lifted their price target on shares of Lam Research from $935.00 to $960.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Citigroup lifted their price target on shares of Lam Research from $975.00 to $1,025.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Lam Research in a research note on Thursday, April 11th. They set a “hold” rating and a $1,000.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $950.85.

Lam Research 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.