Orrstown Financial Services Inc. Grows Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Orrstown Financial Services Inc. boosted its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 41.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,279 shares of the semiconductor company's stock after acquiring an additional 3,298 shares during the quarter. Orrstown Financial Services Inc.'s holdings in Lam Research were worth $820,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of LRCX. One Charles Private Wealth Services LLC increased its position in Lam Research by 843.4% during the fourth quarter. One Charles Private Wealth Services LLC now owns 4,000 shares of the semiconductor company's stock worth $289,000 after buying an additional 3,576 shares during the last quarter. Brighton Jones LLC raised its stake in Lam Research by 1,032.4% in the 4th quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock valued at $1,025,000 after acquiring an additional 12,936 shares during the period. Bleakley Financial Group LLC lifted its holdings in Lam Research by 864.5% during the 4th quarter. Bleakley Financial Group LLC now owns 24,596 shares of the semiconductor company's stock valued at $1,777,000 after purchasing an additional 22,046 shares during the last quarter. Financial Advocates Investment Management boosted its position in Lam Research by 1,036.7% during the fourth quarter. Financial Advocates Investment Management now owns 10,742 shares of the semiconductor company's stock worth $776,000 after purchasing an additional 9,797 shares during the period. Finally, Silver Oak Securities Incorporated bought a new position in shares of Lam Research in the fourth quarter valued at about $280,000. Institutional investors own 84.61% of the company's stock.

Lam Research Stock Down 0.1%

LRCX traded down $0.10 during mid-day trading on Wednesday, reaching $90.90. 7,073,121 shares of the stock were exchanged, compared to its average volume of 12,285,419. Lam Research Co. has a 1 year low of $56.32 and a 1 year high of $113.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The stock has a market capitalization of $116.27 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65. The company has a 50 day moving average price of $75.32 and a two-hundred day moving average price of $76.63.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The company had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period in the prior year, the company posted $7.79 earnings per share. Lam Research's quarterly revenue was up 24.4% on a year-over-year basis. As a group, research analysts anticipate that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.01%. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

Analyst Upgrades and Downgrades

LRCX has been the topic of several research analyst reports. Stifel Nicolaus lowered their price target on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Needham & Company LLC dropped their price target on Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Jefferies Financial Group upped their price objective on Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a report on Friday, March 28th. Argus raised shares of Lam Research to a "strong-buy" rating in a research report on Friday, April 25th. Finally, TD Cowen cut their price target 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. 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 stock. According to MarketBeat, Lam Research currently has an average rating of "Moderate Buy" and an average price target of $90.87.

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.