Haverford Trust Co Has $386,000 Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Haverford Trust Co boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 953.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,350 shares of the semiconductor company’s stock after buying an additional 4,842 shares during the period. Haverford Trust Co’s holdings in Lam Research were worth $386,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Prudential Financial Inc. lifted its holdings in shares of Lam Research by 1,198.4% in the fourth quarter. Prudential Financial Inc. now owns 2,103,049 shares of the semiconductor company’s stock valued at $151,903,000 after purchasing an additional 1,941,078 shares in the last quarter. Interchange Capital Partners LLC raised its position in Lam Research by 906.0% in the 4th quarter. Interchange Capital Partners LLC now owns 5,070 shares of the semiconductor company’s stock valued at $366,000 after buying an additional 4,566 shares during the last quarter. Corebridge Financial Inc. lifted its stake in Lam Research by 836.5% in the 4th quarter. Corebridge Financial Inc. now owns 413,073 shares of the semiconductor company’s stock valued at $29,836,000 after acquiring an additional 368,966 shares in the last quarter. United Services Automobile Association acquired a new position in Lam Research during the 4th quarter worth approximately $2,178,000. Finally, Congress Wealth Management LLC DE grew its stake in shares of Lam Research by 1,079.6% during the 4th quarter. Congress Wealth Management LLC DE now owns 10,675 shares of the semiconductor company’s stock worth $771,000 after acquiring an additional 9,770 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.29% of the stock is currently owned by company insiders.

Lam Research Stock Down 0.4 %

Lam Research stock opened at $77.67 on Wednesday. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The stock has a market cap of $99.70 billion, a P/E ratio of 23.59, a P/E/G ratio of 1.47 and a beta of 1.53. The company’s 50-day moving average price is $79.75 and its two-hundred day moving average price is $77.31. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is currently 27.96%.

Analysts Set New Price Targets

LRCX has been the subject of several recent research reports. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and increased their target price for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Morgan Stanley increased their price objective on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Wells Fargo & Company lifted their target price on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of Lam Research in a research report on Thursday, January 30th. Finally, Mizuho boosted their price target on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.06.

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.