Fiera Capital Corp trimmed its stake in Lam Research Co. (NASDAQ:LRCX – Get Rating) by 3.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,683 shares of the semiconductor company’s stock after selling 99 shares during the period. Fiera Capital Corp’s holdings in Lam Research were worth $933,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of LRCX. Beacon Capital Management LLC bought a new stake in shares of Lam Research during the 3rd quarter worth approximately $32,000. McIlrath & Eck LLC lifted its stake in shares of Lam Research by 185.2% during the 3rd quarter. McIlrath & Eck LLC now owns 77 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 50 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in shares of Lam Research by 71.7% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 79 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 33 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Lam Research during the 2nd quarter worth approximately $34,000. Finally, Norwood Financial Corp bought a new stake in shares of Lam Research during the 3rd quarter worth approximately $31,000. 81.60% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, Director Abhijit Y. Talwalkar sold 880 shares of the business’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $429.72, for a total transaction of $378,153.60. Following the transaction, the director now directly owns 14,762 shares in the company, valued at approximately $6,343,526.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Lam Research news, Director Abhijit Y. Talwalkar sold 880 shares of Lam Research stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $429.72, for a total transaction of $378,153.60. Following the completion of the sale, the director now owns 14,762 shares of the company’s stock, valued at approximately $6,343,526.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Richard A. Gottscho sold 3,540 shares of Lam Research stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $450.00, for a total value of $1,593,000.00. Following the sale, the executive vice president now directly owns 26,672 shares of the company’s stock, valued at approximately $12,002,400. The disclosure for this sale can be found here. Insiders have sold a total of 4,420 shares of company stock worth $1,971,154 in the last ninety days. 0.35% of the stock is owned by insiders.
Lam Research Stock Up 3.9 %
Lam Research Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 4th. Investors of record on Wednesday, December 14th were paid a dividend of $1.725 per share. The ex-dividend date was Tuesday, December 13th. This represents a $6.90 annualized dividend and a yield of 1.41%. Lam Research’s dividend payout ratio (DPR) is 19.79%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on LRCX shares. Mizuho raised their price target on Lam Research from $400.00 to $500.00 and gave the stock a “buy” rating in a research note on Tuesday, January 17th. Wells Fargo & Company raised their price objective on Lam Research from $350.00 to $410.00 and gave the stock an “equal weight” rating in a report on Monday, January 9th. Bank of America reduced their price objective on Lam Research from $460.00 to $405.00 and set a “buy” rating on the stock in a report on Thursday, October 20th. B. Riley raised their price objective on Lam Research from $390.00 to $440.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Morgan Stanley reduced their price objective on Lam Research from $429.00 to $404.00 and set an “overweight” rating on the stock in a report on Thursday, October 20th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $492.27.
About Lam Research
Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.
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