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% in the third quarter, HoldingsChannel reports. The fund owned 3,702 shares of the semiconductor company’s stock after selling 1,262 shares during the period. Trustmark National Bank Trust Department’s holdings in Lam Research were worth $3,021,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LRCX. Creative Planning boosted its position in Lam Research by 2.5% during the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock valued at $38,664,000 after buying an additional 1,146 shares during the period. Jennison Associates LLC raised its stake in shares of Lam Research by 20.0% during the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after acquiring an additional 39,725 shares during the last quarter. Vest Financial LLC boosted its holdings in shares of Lam Research by 68.7% during the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock worth $29,372,000 after purchasing an additional 14,658 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Lam Research by 9.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company’s stock worth $278,165,000 after purchasing an additional 28,089 shares during the last quarter. Finally, Benson Investment Management Company Inc. purchased a new position in Lam Research during the 3rd quarter valued at about $5,182,000. Institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

LRCX has been the subject of several research analyst reports. Citigroup dropped their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft dropped their price target on Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. BNP Paribas raised shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. Finally, TD Cowen boosted their price target on shares of Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.03.

Lam Research Stock Performance

Shares of Lam Research stock opened at $70.05 on Thursday. Lam Research Co. has a 1 year low of $68.72 and a 1 year high of $113.00. The firm’s 50-day moving average is $77.04 and its 200 day moving average is $87.56. 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 company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

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

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders 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 dividend yield of 1.31%. Lam Research’s dividend payout ratio is presently 29.74%.

Insider Activity at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. The trade was a 13.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is owned by insiders.

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.