Cypress Capital Group Purchases 22,790 Shares of Lam Research Co. (NASDAQ:LRCX)

Cypress Capital Group raised its position in shares of Lam Research Co. (NASDAQ:LRCX) by 622.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,450 shares of the semiconductor company’s stock after acquiring an additional 22,790 shares during the period. Cypress Capital Group’s holdings in Lam Research were worth $1,910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Crew Capital Management Ltd. grew its stake in shares of Lam Research by 1,497.4% in the 4th quarter. Crew Capital Management Ltd. now owns 11,070 shares of the semiconductor company’s stock worth $800,000 after buying an additional 10,377 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Lam Research by 1,303.5% in the 4th quarter. Victory Capital Management Inc. now owns 1,932,303 shares of the semiconductor company’s stock worth $139,570,000 after buying an additional 1,794,630 shares in the last quarter. Keybank National Association OH grew its stake in shares of Lam Research by 1,016.9% in the 4th quarter. Keybank National Association OH now owns 36,814 shares of the semiconductor company’s stock worth $2,659,000 after buying an additional 33,518 shares in the last quarter. Westover Capital Advisors LLC grew its stake in shares of Lam Research by 900.0% in the 4th quarter. Westover Capital Advisors LLC now owns 8,000 shares of the semiconductor company’s stock worth $578,000 after buying an additional 7,200 shares in the last quarter. Finally, Exencial Wealth Advisors LLC grew its stake in shares of Lam Research by 748.0% in the 4th quarter. Exencial Wealth Advisors LLC now owns 3,884 shares of the semiconductor company’s stock worth $281,000 after buying an additional 3,426 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the sale, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.29% of the company’s stock.

Lam Research Price Performance

Lam Research stock opened at $76.44 on Wednesday. The stock has a market cap of $98.12 billion, a price-to-earnings ratio of 23.22, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The firm has a 50-day moving average of $79.03 and a two-hundred day moving average of $77.87.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, research analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.20%. Lam Research’s dividend payout ratio is currently 27.96%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on LRCX shares. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price objective on shares of Lam Research in a research note on Thursday, January 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 price objective on shares of Lam Research in a research note on Tuesday, February 18th. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Finally, Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and lifted their price target for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.22.

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.