Centennial Bank AR Acquires New Holdings in Lam Research Corporation (NASDAQ:LRCX)

Centennial Bank AR acquired a new stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 12,415 shares of the semiconductor company's stock, valued at approximately $903,000.

A number of other institutional investors have also recently made changes to their positions in LRCX. Citizens National Bank Trust Department lifted its stake in Lam Research by 34.0% in the first quarter. Citizens National Bank Trust Department now owns 603 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 153 shares during the last quarter. Transcend Capital Advisors LLC lifted its stake in Lam Research by 2.3% in the first quarter. Transcend Capital Advisors LLC now owns 8,065 shares of the semiconductor company's stock worth $586,000 after acquiring an additional 182 shares during the last quarter. Capital Advisors Inc. OK lifted its stake in Lam Research by 0.6% in the first quarter. Capital Advisors Inc. OK now owns 29,927 shares of the semiconductor company's stock worth $2,176,000 after acquiring an additional 183 shares during the last quarter. Atlantic Edge Private Wealth Management LLC lifted its stake in Lam Research by 33.3% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 800 shares of the semiconductor company's stock worth $58,000 after acquiring an additional 200 shares during the last quarter. Finally, YANKCOM Partnership lifted its stake in Lam Research by 10.0% in the first quarter. YANKCOM Partnership now owns 2,329 shares of the semiconductor company's stock worth $169,000 after acquiring an additional 212 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LRCX. Bank of America reduced their price objective on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Oppenheimer restated an "outperform" rating and set a $110.00 price objective (up previously from $80.00) on shares of Lam Research in a research report on Tuesday, June 17th. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on shares of Lam Research and gave the stock a "hold" rating in a research report on Thursday, April 24th. TD Cowen reduced their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, B. Riley restated a "buy" rating and set a $115.00 price objective (up previously from $95.00) on shares of Lam Research in a research report on Wednesday, June 18th. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Lam Research presently has an average rating of "Moderate Buy" and an average target price of $95.10.

Lam Research Stock Performance

Lam Research stock traded down $0.67 during trading hours on Monday, reaching $98.14. 7,238,322 shares of the stock were exchanged, compared to its average volume of 12,353,324. The stock has a market cap of $125.53 billion, a P/E ratio of 27.35, a P/E/G ratio of 1.39 and a beta of 1.68. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $113.00. The firm's 50 day moving average is $85.70 and its 200 day moving average is $79.03.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly 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 business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The business's revenue was up 24.4% compared to the same quarter last year. During the same quarter last year, the firm posted $7.79 EPS. Analysts predict that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.94%. Lam Research's payout ratio is 25.63%.

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.