Cetera Trust Company N.A Buys New Stake in Lam Research Co. (NASDAQ:LRCX)

Cetera Trust Company N.A acquired a new stake in Lam Research Co. (NASDAQ:LRCX - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 41,010 shares of the semiconductor company's stock, valued at approximately $2,981,000. Lam Research makes up 1.9% of Cetera Trust Company N.A's portfolio, making the stock its 9th biggest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Perspectives Inc lifted its position in Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after buying an additional 309 shares during the period. Fairway Wealth LLC increased its stake in Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 306 shares during the last quarter. Midwest Capital Advisors LLC acquired a new stake in Lam Research during the fourth quarter worth about $27,000. West Paces Advisors Inc. acquired a new stake in Lam Research during the fourth quarter worth about $27,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Lam Research during the fourth quarter worth about $27,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Price Performance

Shares of LRCX stock traded down $0.05 during mid-day trading on Wednesday, hitting $90.95. 10,640,370 shares of the stock were exchanged, compared to its average volume of 12,311,733. The company has a market cap of $116.34 billion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65. Lam Research Co. has a 52-week low of $56.32 and a 52-week high of $113.00. The firm has a fifty day moving average of $75.96 and a 200 day moving average of $76.73. 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 (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share 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 analyst estimates of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Lam Research's quarterly revenue was up 24.4% compared to the same quarter last year. During the same period last year, the company posted $7.79 EPS. Research analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.01%. Lam Research's dividend payout ratio is currently 25.63%.

Analyst Ratings Changes

Several brokerages have commented on LRCX. Morgan Stanley upped their price target on Lam Research from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Jefferies Financial Group increased their target price on Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Deutsche Bank Aktiengesellschaft set a $70.00 target price on Lam Research and gave the company a "hold" rating in a research note on Thursday, April 24th. Barclays lowered their target price on Lam Research from $75.00 to $70.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Finally, TD Cowen lowered their target price on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Seven 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.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $90.87.

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.