M&T Bank Corp Sells 5,116 Shares of Lam Research Corporation (NASDAQ:LRCX)

M&T Bank Corp cut its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 108,450 shares of the semiconductor company's stock after selling 5,116 shares during the quarter. M&T Bank Corp's holdings in Lam Research were worth $7,884,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank raised its position in shares of Lam Research by 944.0% during the fourth 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 raised its position in Lam Research by 781.9% in the 4th quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company's stock valued at $23,920,000 after buying an additional 293,619 shares during the last quarter. Pinnacle Financial Partners Inc purchased a new stake in Lam Research in the 1st quarter valued at $201,000. B. Riley Wealth Advisors Inc. bought a new position in Lam Research in the 4th quarter valued at $6,296,000. Finally, China Universal Asset Management Co. Ltd. grew its stake in Lam Research by 27.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,505 shares of the semiconductor company's stock valued at $3,607,000 after purchasing an additional 10,565 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Trading Up 0.7%

Lam Research stock traded up $0.67 during trading hours on Friday, reaching $101.73. The company had a trading volume of 6,202,556 shares, compared to its average volume of 12,332,847. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. The company has a 50-day moving average price of $88.50 and a 200 day moving average price of $79.87. The firm has a market cap of $130.12 billion, a price-to-earnings ratio of 28.35, a P/E/G ratio of 1.43 and a beta of 1.68. Lam Research Corporation has a 12-month low of $56.32 and a 12-month high of $109.34.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. The business 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 53.21% and a net margin of 27.18%. The business's quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the firm earned $7.79 EPS. Equities analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.90%. Lam Research's dividend payout ratio is currently 25.63%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Barclays cut their price target 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. Citigroup reiterated a "buy" rating and set a $108.00 price target (up previously from $87.00) on shares of Lam Research in a research note on Monday, July 7th. Oppenheimer reiterated an "outperform" rating and set a $110.00 price target (up previously from $80.00) on shares of Lam Research in a research note on Tuesday, June 17th. Needham & Company LLC cut their target price on Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, UBS Group cut their target price on Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Lam Research currently has an average rating of "Moderate Buy" and a consensus target price of $97.48.

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.