Central Pacific Bank Trust Division Makes New $233,000 Investment in Lam Research Co. (NASDAQ:LRCX)

Central Pacific Bank Trust Division purchased a new stake in Lam Research Co. (NASDAQ:LRCX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,204 shares of the semiconductor company's stock, valued at approximately $233,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fairway Wealth LLC lifted its stake in Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 306 shares in the last quarter. Financial Perspectives Inc increased its holdings in Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 309 shares during the last quarter. Bell Investment Advisors Inc raised its position in shares of Lam Research by 836.6% in the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 343 shares during the period. Avalon Trust Co lifted its position in shares of Lam Research by 791.3% during the fourth quarter. Avalon Trust Co now owns 410 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 364 shares in the last quarter. Finally, Hollencrest Capital Management boosted its stake in Lam Research by 10.4% in the 4th quarter. Hollencrest Capital Management now owns 3,888 shares of the semiconductor company's stock worth $281,000 after purchasing an additional 366 shares during the period. 84.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of recent analyst reports. Evercore ISI boosted their price target on shares of Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Bank of America lowered their price objective 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. Cantor Fitzgerald restated an "overweight" rating and set a $90.00 price target on shares of Lam Research in a research report on Thursday, April 24th. Wells Fargo & Company decreased their price objective on shares of Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Finally, B. Riley restated a "buy" rating on shares of Lam Research in a report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $91.56.

Lam Research Stock Performance

Shares of Lam Research stock traded up $1.69 during trading on Monday, hitting $82.48. 8,244,768 shares of the company's stock traded hands, compared to its average volume of 12,250,621. Lam Research Co. has a 1 year low of $56.32 and a 1 year high of $113.00. The business has a 50-day simple moving average of $73.45 and a 200-day simple moving average of $75.94. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The stock has a market capitalization of $105.50 billion, a P/E ratio of 25.05, a PEG ratio of 1.47 and a beta of 1.64.

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 for the quarter, beating the consensus estimate 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 return on equity of 51.86% and a net margin of 26.49%. The company's revenue was up 24.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.79 EPS. As a group, analysts forecast that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.12%. The ex-dividend date is Wednesday, June 18th. Lam Research's dividend payout ratio is presently 25.63%.

Lam Research 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.