Lam Research Corporation (NASDAQ:LRCX) Shares Acquired by Amalgamated Bank

Amalgamated Bank grew its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 272,613 shares of the semiconductor company's stock after buying an additional 6,274 shares during the period. Amalgamated Bank's holdings in Lam Research were worth $19,819,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LRCX. Huntington National Bank boosted its stake in Lam Research by 944.0% during the 4th quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company's stock worth $21,291,000 after purchasing an additional 266,527 shares during the period. Cerity Partners LLC boosted its stake in Lam Research by 781.9% during the 4th quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company's stock worth $23,920,000 after purchasing an additional 293,619 shares during the period. B. Riley Wealth Advisors Inc. acquired a new stake in Lam Research during the 4th quarter worth $6,296,000. Pitcairn Co. acquired a new stake in Lam Research during the 4th quarter worth $1,013,000. Finally, First Citizens Bank & Trust Co. boosted its stake in Lam Research by 47.8% during the 1st quarter. First Citizens Bank & Trust Co. now owns 121,902 shares of the semiconductor company's stock worth $8,862,000 after purchasing an additional 39,414 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Stock Performance

NASDAQ:LRCX opened at $97.20 on Monday. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average price of $82.59 and a two-hundred day moving average price of $78.24. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $113.00. The company has a market capitalization of $124.33 billion, a P/E ratio of 27.09, a price-to-earnings-growth ratio of 1.37 and a beta of 1.65.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its 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. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The firm had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the firm posted $7.79 EPS. The firm's revenue for the quarter was up 24.4% on a year-over-year basis. As a group, research analysts expect that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 0.95%. Lam Research's dividend payout ratio (DPR) is currently 25.63%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Evercore ISI increased their price target on shares of Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Wells Fargo & Company decreased their price target on shares of Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. TD Cowen decreased their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. UBS Group reduced their target price on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Needham & Company LLC reduced their target price on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $93.97.

Lam Research Company 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.

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.