Orrstown Financial Services Inc. Raises Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Orrstown Financial Services Inc. lifted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 41.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,279 shares of the semiconductor company’s stock after purchasing an additional 3,298 shares during the quarter. Orrstown Financial Services Inc.’s holdings in Lam Research were worth $820,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of LRCX. Financial Perspectives Inc lifted its position in Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after buying an additional 309 shares during the last quarter. Fairway Wealth LLC boosted its stake in shares of Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 306 shares during the period. Midwest Capital Advisors LLC purchased a new stake in shares of Lam Research during the fourth quarter valued at approximately $27,000. West Paces Advisors Inc. purchased a new stake in shares of Lam Research during the fourth quarter valued at approximately $27,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Lam Research during the fourth quarter valued at approximately $27,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the subject of a number of analyst reports. Wells Fargo & Company dropped their price objective on Lam Research from $85.00 to $75.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on Lam Research and gave the company a “hold” rating in a research note on Thursday, April 24th. B. Riley reissued a “buy” rating on shares of Lam Research in a research note on Thursday, April 24th. Morgan Stanley increased their price objective on Lam Research from $81.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. Finally, Argus raised Lam Research to a “strong-buy” rating in a research note on Friday, April 25th. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.87.

Lam Research Price Performance

LRCX opened at $86.35 on Friday. Lam Research Co. has a 12-month low of $56.32 and a 12-month high of $113.00. The company has a market cap of $110.45 billion, a price-to-earnings ratio of 26.23, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65. The stock has a fifty day simple moving average of $74.51 and a two-hundred day simple moving average of $76.40. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51.

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

Lam Research Dividend Announcement

The company also recently disclosed 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 1.07%. The ex-dividend date is Wednesday, June 18th. Lam Research’s payout ratio is 25.63%.

Lam Research 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.