M&T Bank Corp Acquires 453 Shares of Lam Research Co. (LRCX)

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M&T Bank Corp lifted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,286 shares of the semiconductor company’s stock after purchasing an additional 453 shares during the period. M&T Bank Corp’s holdings in Lam Research were worth $2,219,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. We Are One Seven LLC acquired a new position in shares of Lam Research during the fourth quarter worth $26,000. Duncker Streett & Co. Inc. lifted its holdings in shares of Lam Research by 100.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 200 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 100 shares during the period. Csenge Advisory Group acquired a new position in shares of Lam Research during the third quarter worth $35,000. IMS Capital Management acquired a new position in shares of Lam Research during the third quarter worth $38,000. Finally, Parkside Financial Bank & Trust lifted its holdings in Lam Research by 44.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 347 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 107 shares during the period. Institutional investors own 89.11% of the company’s stock.

LRCX opened at $175.92 on Tuesday. Lam Research Co. has a 1-year low of $122.64 and a 1-year high of $234.88. The company has a quick ratio of 2.61, a current ratio of 3.39 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $26.84 billion, a price-to-earnings ratio of 9.84, a P/E/G ratio of 1.05 and a beta of 1.50.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 23rd. The semiconductor company reported $3.87 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.20. Lam Research had a net margin of 26.69% and a return on equity of 48.08%. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the firm posted $4.34 earnings per share. The business’s revenue was down 2.2% compared to the same quarter last year. On average, equities analysts predict that Lam Research Co. will post 13.9 earnings per share for the current year.

Lam Research announced that its board has approved a stock repurchase program on Wednesday, January 23rd that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase up to 23% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

LRCX has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Lam Research from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Royal Bank of Canada upgraded shares of Lam Research from a “sector perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a report on Tuesday, January 29th. KeyCorp dropped their target price on shares of Lam Research from $261.00 to $231.00 and set an “overweight” rating on the stock in a report on Wednesday, October 17th. B. Riley boosted their target price on shares of Lam Research to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 17th. Finally, ValuEngine upgraded shares of Lam Research from a “strong sell” rating to a “sell” rating in a report on Wednesday, November 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $216.39.

In other news, SVP Kevin Jennings sold 1,692 shares of the business’s stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $180.00, for a total transaction of $304,560.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christine Heckart sold 2,050 shares of the business’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $172.98, for a total transaction of $354,609.00. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.

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Lam Research Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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