Trustmark National Bank Trust Department Sells 1,262 Shares of Lam Research Co. (NASDAQ:LRCX)

Trustmark National Bank Trust Department lessened its stake in Lam Research Co. (NASDAQ:LRCX) by 25.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,702 shares of the semiconductor company’s stock after selling 1,262 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Lam Research were worth $3,021,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Van ECK Associates Corp boosted its holdings in Lam Research by 1,394.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after acquiring an additional 15,005,178 shares during the last quarter. Foster Victor Wealth Advisors LLC boosted its holdings in Lam Research by 994.1% during the third quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company’s stock worth $190,066,000 after purchasing an additional 211,614 shares during the last quarter. Swedbank AB bought a new stake in Lam Research in the 1st quarter worth about $192,668,000. Price T Rowe Associates Inc. MD increased its stake in Lam Research by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after buying an additional 142,903 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its position in shares of Lam Research by 208.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 175,616 shares of the semiconductor company’s stock worth $187,005,000 after buying an additional 118,634 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on LRCX. UBS Group decreased their price target on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. BNP Paribas raised shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. Citigroup reduced their target price on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research report on Monday, September 16th. B. Riley lowered their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $100.00 price objective (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $97.03.

Lam Research Price Performance

Lam Research stock opened at $70.05 on Thursday. Lam Research Co. has a 52 week low of $68.72 and a 52 week high of $113.00. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The stock has a market cap of $90.13 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 1.12 and a beta of 1.48. The business has a 50-day simple moving average of $77.04 and a 200 day simple moving average of $87.56.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. Lam Research’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the previous year, the business posted $6.85 earnings per share. On average, research analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.31%. Lam Research’s dividend payout ratio is presently 29.74%.

About Lam Research

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.