Central Bank & Trust Co. Buys New Shares in Lam Research Co. (NASDAQ:LRCX)

Central Bank & Trust Co. purchased a new position in Lam Research Co. (NASDAQ:LRCX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 84,284 shares of the semiconductor company's stock, valued at approximately $6,127,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Centerpoint Advisors LLC raised its holdings in Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock worth $72,000 after acquiring an additional 900 shares during the period. Huntington National Bank increased its stake in Lam Research by 944.0% in the fourth quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company's stock valued at $21,291,000 after acquiring an additional 266,527 shares during the period. ICICI Prudential Asset Management Co Ltd grew its stake in Lam Research by 1,401.1% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 70,475 shares of the semiconductor company's stock worth $5,090,000 after buying an additional 65,780 shares during the last quarter. Cerity Partners LLC grew its stake in Lam Research by 781.9% during the fourth quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company's stock worth $23,920,000 after buying an additional 293,619 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of Lam Research during the fourth quarter worth approximately $6,296,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Stifel Nicolaus reduced their price target on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Bank of America reduced their target price on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Barclays cut their price objective on shares of Lam Research from $75.00 to $70.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Argus raised shares of Lam Research to a "strong-buy" rating in a report on Friday, April 25th. Finally, Mizuho upped their price target on shares of Lam Research from $87.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Lam Research presently has an average rating of "Moderate Buy" and an average target price of $90.87.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $86.35 on Friday. The company has a market cap of $110.45 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65. Lam Research Co. has a twelve month low of $56.32 and a twelve month high of $113.00. The company's 50 day moving average is $74.51 and its 200 day moving average is $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 - Get Free Report) last released 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 firm had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The firm's revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter last year, the company earned $7.79 EPS. On average, sell-side analysts forecast that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

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 issued a $0.23 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 1.07%. Lam Research's payout ratio is currently 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.

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