Trust Co. of Vermont Sells 2,073 Shares of Lam Research Corporation (NASDAQ:LRCX)

Trust Co. of Vermont decreased its holdings in shares of Lam Research Corporation (NASDAQ:LRCX) by 6.5% in the first quarter, HoldingsChannel reports. The firm owned 29,888 shares of the semiconductor company’s stock after selling 2,073 shares during the quarter. Trust Co. of Vermont’s holdings in Lam Research were worth $2,173,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Field & Main Bank raised its position in Lam Research by 9.0% during the 1st quarter. Field & Main Bank now owns 2,595 shares of the semiconductor company’s stock valued at $189,000 after purchasing an additional 215 shares during the last quarter. Investment Partners Asset Management Inc. lifted its stake in shares of Lam Research by 5.4% in the 1st quarter. Investment Partners Asset Management Inc. now owns 4,373 shares of the semiconductor company’s stock valued at $318,000 after purchasing an additional 226 shares during the period. Childress Capital Advisors LLC lifted its stake in shares of Lam Research by 6.1% in the 1st quarter. Childress Capital Advisors LLC now owns 4,178 shares of the semiconductor company’s stock valued at $304,000 after purchasing an additional 240 shares during the period. Salem Investment Counselors Inc. lifted its stake in shares of Lam Research by 5.5% in the 1st quarter. Salem Investment Counselors Inc. now owns 4,716 shares of the semiconductor company’s stock valued at $344,000 after purchasing an additional 246 shares during the period. Finally, Legacy Wealth Asset Management LLC lifted its stake in shares of Lam Research by 1.9% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 13,243 shares of the semiconductor company’s stock valued at $963,000 after purchasing an additional 248 shares during the period. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Up 0.4%

LRCX stock opened at $97.20 on Friday. Lam Research Corporation has a 1-year low of $56.32 and a 1-year high of $113.00. The business has a fifty day moving average price of $82.59 and a 200-day moving average price of $78.22. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. The stock has a market capitalization of $124.33 billion, a P/E ratio of 27.09, a P/E/G ratio of 1.36 and a beta of 1.65.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The firm had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the previous year, the business earned $7.79 earnings per share. The company’s revenue was up 24.4% on a year-over-year basis. Equities analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research’s dividend payout ratio is currently 25.63%.

Wall Street Analysts Forecast Growth

LRCX has been the subject of a number of research analyst reports. TD Securities lowered their target price on Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company lowered their target price 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. Jefferies Financial Group raised their target price on Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, March 28th. Stifel Nicolaus lowered their target price on Lam Research from $100.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Finally, Morgan Stanley raised their target price 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. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $93.97.

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.