American National Bank & Trust Decreases Stake in Lam Research Co. (NASDAQ:LRCX)

American National Bank & Trust lessened its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 44.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,584 shares of the semiconductor company's stock after selling 5,264 shares during the period. American National Bank & Trust's holdings in Lam Research were worth $479,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Lam Research by 892.7% in the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock valued at $8,724,498,000 after buying an additional 108,619,564 shares during the period. FMR LLC raised its position in Lam Research by 1,032.6% during the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock valued at $2,891,453,000 after purchasing an additional 36,496,689 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Lam Research by 950.5% during the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock worth $2,495,128,000 after purchasing an additional 31,255,726 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Lam Research by 907.1% in the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock valued at $2,265,610,000 after purchasing an additional 28,307,499 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Lam Research in the 4th quarter valued at $1,661,672,000. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Up 1.4%

LRCX stock traded up $1.21 during mid-day trading on Thursday, reaching $85.98. 3,369,683 shares of the company traded hands, compared to its average volume of 12,229,888. The stock has a market cap of $109.98 billion, a price-to-earnings ratio of 26.12, a P/E/G ratio of 1.47 and a beta of 1.64. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The firm's 50 day moving average price is $74.00 and its 200 day moving average price is $76.14.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating 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 business earned $7.79 EPS. The business's revenue was up 24.4% on a year-over-year basis. As a group, equities research analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's dividend payout ratio is presently 25.63%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LRCX. Stifel Nicolaus decreased their target price on Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Jefferies Financial Group increased their price objective on shares of Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Evercore ISI upped their price target on shares of Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. B. Riley reissued a "buy" rating on shares of Lam Research in a report on Thursday, April 24th. Finally, Argus raised Lam Research to a "strong-buy" rating in a report on Friday, April 25th. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $91.56.

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.