CNB Bank Purchases New Position in Lam Research Corporation (NASDAQ:LRCX)

CNB Bank purchased a new position in Lam Research Corporation (NASDAQ:LRCX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,983 shares of the semiconductor company's stock, valued at approximately $798,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fairway Wealth LLC lifted its stake in shares of Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 306 shares during the period. West Paces Advisors Inc. bought a new position in Lam Research in the fourth quarter worth $27,000. Mpwm Advisory Solutions LLC purchased a new position in Lam Research during the fourth quarter valued at $27,000. Bell Investment Advisors Inc lifted its position in Lam Research by 836.6% during the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock valued at $28,000 after buying an additional 343 shares during the period. Finally, Avalon Trust Co boosted its holdings in shares of Lam Research by 791.3% during the 4th quarter. Avalon Trust Co now owns 410 shares of the semiconductor company's stock valued at $30,000 after buying an additional 364 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $96.84 on Friday. The firm's 50-day moving average price is $81.92 and its 200-day moving average price is $78.07. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $113.00. The company has a market cap of $123.87 billion, a PE ratio of 26.99, a PEG ratio of 1.35 and a beta of 1.65. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The company had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. During the same quarter last year, the company posted $7.79 earnings per share. The firm's quarterly revenue was up 24.4% on a year-over-year basis. As a group, analysts anticipate that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Wednesday, June 18th. Lam Research's payout ratio is currently 25.63%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Morgan Stanley increased their price target on shares of Lam Research from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Bank of America cut their price objective on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Wells Fargo & Company lowered their target price on shares of Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. TD Securities cut their price target on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $115.00 price objective (up previously from $90.00) on shares of Lam Research in a research note on Tuesday. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Lam Research currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.97.

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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