Lam Research Co. (NASDAQ:LRCX) Stock Holdings Increased by Somerset Trust Co

Somerset Trust Co increased its holdings in Lam Research Co. (NASDAQ:LRCX) by 38.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,551 shares of the semiconductor company’s stock after purchasing an additional 1,254 shares during the quarter. Somerset Trust Co’s holdings in Lam Research were worth $331,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Centerpoint Advisors LLC raised its holdings in shares of Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 900 shares in the last quarter. E. Ohman J or Asset Management AB bought a new stake in shares of Lam Research in the 4th quarter worth approximately $4,258,000. Huntington National Bank raised its holdings in shares of Lam Research by 944.0% in the 4th quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company’s stock worth $21,291,000 after purchasing an additional 266,527 shares in the last quarter. ICICI Prudential Asset Management Co Ltd raised its holdings in shares of Lam Research by 1,401.1% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 70,475 shares of the semiconductor company’s stock worth $5,090,000 after purchasing an additional 65,780 shares in the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of Lam Research by 781.9% in the 4th quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company’s stock worth $23,920,000 after purchasing an additional 293,619 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Lam Research Price Performance

NASDAQ LRCX opened at $80.32 on Friday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $102.74 billion, a PE ratio of 24.40, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64. The company has a 50 day moving average price of $73.45 and a two-hundred day moving average price of $75.92. Lam Research Co. has a 12-month low of $56.32 and a 12-month high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.04. The firm had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The company’s revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the company earned $7.79 earnings per share. As a group, equities analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Wednesday, June 18th. Lam Research’s dividend payout ratio (DPR) is presently 25.63%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Stifel Nicolaus dropped their target price on shares of Lam Research from $100.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Needham & Company LLC dropped their target price on shares of Lam Research from $96.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Morgan Stanley lifted their target price on shares of Lam Research from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 24th. Evercore ISI lifted their target price on shares of Lam Research from $95.00 to $99.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 target price on shares of Lam Research in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average target price of $91.56.

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.