M&T Bank Corp Decreases Position in Lam Research Corporation (NASDAQ:LRCX)

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

A number of other hedge funds also recently bought and sold shares of LRCX. Citizens National Bank Trust Department lifted its stake in shares of Lam Research by 34.0% in the 1st quarter. Citizens National Bank Trust Department now owns 603 shares of the semiconductor company's stock worth $44,000 after purchasing an additional 153 shares during the period. Transcend Capital Advisors LLC increased its holdings in Lam Research by 2.3% during the first quarter. Transcend Capital Advisors LLC now owns 8,065 shares of the semiconductor company's stock valued at $586,000 after buying an additional 182 shares during the last quarter. Capital Advisors Inc. OK raised its position in Lam Research by 0.6% in the first quarter. Capital Advisors Inc. OK now owns 29,927 shares of the semiconductor company's stock worth $2,176,000 after acquiring an additional 183 shares during the period. Atlantic Edge Private Wealth Management LLC boosted its stake in shares of Lam Research by 33.3% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 800 shares of the semiconductor company's stock worth $58,000 after acquiring an additional 200 shares during the last quarter. Finally, YANKCOM Partnership boosted its stake in shares of Lam Research by 10.0% during the 1st quarter. YANKCOM Partnership now owns 2,329 shares of the semiconductor company's stock worth $169,000 after acquiring an additional 212 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research Price Performance

Lam Research stock traded up $0.67 during midday trading on Friday, reaching $101.73. 6,202,556 shares of the stock traded hands, compared to its average volume of 12,332,847. The stock has a market cap of $130.12 billion, a P/E ratio of 28.35, a PEG ratio of 1.43 and a beta of 1.68. The stock's fifty day moving average is $88.50 and its 200-day moving average is $79.87. 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 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 posted its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The firm had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the prior year, the company earned $7.79 EPS. The company's quarterly revenue was up 24.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were paid 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 payout ratio is currently 25.63%.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of recent research reports. Oppenheimer reaffirmed an "outperform" rating and issued a $110.00 target price (up from $80.00) on shares of Lam Research in a report on Tuesday, June 17th. Barclays decreased their price objective on Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. TD Cowen cut their price objective 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. 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 report on Thursday, April 24th. Finally, B. Riley reaffirmed a "buy" rating and set a $115.00 price target (up previously from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $97.48.

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.