Commerce Bank Decreases Position in Lam Research Corporation (NASDAQ:LRCX)

Commerce Bank cut its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 8.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,161 shares of the semiconductor company's stock after selling 6,329 shares during the quarter. Commerce Bank's holdings in Lam Research were worth $4,955,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FMR LLC lifted its stake in Lam Research by 1,032.6% in the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock valued at $2,891,453,000 after buying an additional 36,496,689 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Lam Research by 950.5% during the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock worth $2,495,128,000 after buying an additional 31,255,726 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Lam Research by 909.5% during the 4th quarter. Invesco Ltd. now owns 16,858,135 shares of the semiconductor company's stock worth $1,217,663,000 after buying an additional 15,188,173 shares during the last quarter. Northern Trust Corp increased its holdings in Lam Research by 1,067.0% in the 4th quarter. Northern Trust Corp now owns 15,869,244 shares of the semiconductor company's stock valued at $1,146,235,000 after purchasing an additional 14,509,407 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Lam Research by 6,383.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,574,691 shares of the semiconductor company's stock worth $980,500,000 after acquiring an additional 13,365,317 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LRCX has been the subject of several research reports. KeyCorp boosted their price target on shares of Lam Research from $105.00 to $115.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Cantor Fitzgerald restated an "overweight" rating and issued a $115.00 price target (up previously from $90.00) on shares of Lam Research in a research note on Tuesday, June 24th. Argus raised their target price on Lam Research from $105.00 to $120.00 and gave the stock a "buy" rating in a research report on Friday. Evercore ISI raised their target price on Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Finally, B. Riley reissued a "buy" rating and issued a $115.00 price target (up from $95.00) on shares of Lam Research in a research report on Wednesday, June 18th. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. According to MarketBeat, Lam Research has a consensus rating of "Moderate Buy" and an average target price of $107.09.

Lam Research Stock Performance

Shares of LRCX opened at $96.37 on Friday. The firm's 50 day moving average is $93.96 and its 200-day moving average is $82.42. The stock has a market capitalization of $123.27 billion, a P/E ratio of 23.17, a P/E/G ratio of 1.36 and a beta of 1.65. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.21 and a quick ratio of 1.64. Lam Research Corporation has a 12-month low of $56.32 and a 12-month high of $102.59.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.12. The business had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $4.99 billion. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. The firm's quarterly revenue was up 33.6% compared to the same quarter last year. During the same period last year, the firm posted $1.03 earnings per share. Equities research analysts anticipate that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 1.0%. Lam Research's payout ratio is presently 22.12%.

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.

Want to see what other hedge funds are holding LRCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lam Research Corporation (NASDAQ:LRCX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.