Equitable Trust Co. Has $333,000 Stock Position in Lam Research Corporation (NASDAQ:LRCX)

Equitable Trust Co. grew its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 11.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,574 shares of the semiconductor company’s stock after acquiring an additional 471 shares during the quarter. Equitable Trust Co.’s holdings in Lam Research were worth $333,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Huntington National Bank boosted its position in Lam Research by 944.0% during the 4th quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company’s stock worth $21,291,000 after acquiring an additional 266,527 shares during the last quarter. Cerity Partners LLC boosted its position in Lam Research by 781.9% during the 4th quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company’s stock worth $23,920,000 after acquiring an additional 293,619 shares during the last quarter. Pinnacle Financial Partners Inc acquired a new position in Lam Research during the 1st quarter worth approximately $201,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Lam Research during the 4th quarter worth approximately $6,296,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of Lam Research by 27.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,505 shares of the semiconductor company’s stock worth $3,607,000 after purchasing an additional 10,565 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on LRCX shares. Bank of America dropped their price objective on Lam Research from $110.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Citigroup reiterated a “buy” rating and set a $108.00 price objective (up previously from $87.00) on shares of Lam Research in a research note on Monday, July 7th. Barclays dropped their price objective on Lam Research from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. KeyCorp upped their price objective on Lam Research from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Finally, Argus upgraded Lam Research to a “strong-buy” rating in a research note on Friday, April 25th. Seven investment 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $100.57.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $96.96 on Friday. 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’s fifty day moving average price is $92.49 and its two-hundred day moving average price is $81.65. Lam Research Corporation has a one year low of $56.32 and a one year high of $102.59. The firm has a market cap of $124.02 billion, a price-to-earnings ratio of 27.02, a P/E/G ratio of 1.37 and a beta of 1.68.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4.64 billion. During the same period in the prior year, the firm posted $7.79 EPS. The company’s revenue for the quarter was up 24.4% on a year-over-year basis. On average, equities analysts forecast that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.95%. Lam Research’s payout ratio is 25.63%.

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.