3,560 Shares in Lam Research Co. (NASDAQ:LRCX) Acquired by Rockland Trust Co.

Rockland Trust Co. purchased a new stake in Lam Research Co. (NASDAQ:LRCX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,560 shares of the semiconductor company's stock, valued at approximately $259,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LRCX. Centerpoint Advisors LLC lifted its stake in shares of Lam Research by 900.0% in the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock valued at $72,000 after purchasing an additional 900 shares during the period. Huntington National Bank lifted its position in shares of Lam Research by 944.0% during the 4th quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company's stock valued at $21,291,000 after acquiring an additional 266,527 shares during the period. ICICI Prudential Asset Management Co Ltd lifted its position in shares of Lam Research by 1,401.1% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 70,475 shares of the semiconductor company's stock valued at $5,090,000 after acquiring an additional 65,780 shares during the period. Cerity Partners LLC boosted its stake in shares of 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 acquiring an additional 293,619 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Lam Research in the 4th quarter worth approximately $6,296,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Trading Down 2.3%

Shares of NASDAQ LRCX traded down $2.14 on Friday, reaching $89.52. 10,977,636 shares of the company traded hands, compared to its average volume of 12,281,031. The stock has a market capitalization of $114.51 billion, a PE ratio of 27.19, a P/E/G ratio of 1.47 and a beta of 1.65. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average of $77.13 and a 200 day moving average of $76.97.

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 analysts' consensus estimates of $1.00 by $0.04. The firm had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Lam Research's revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $7.79 earnings per share. On average, equities research analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is currently 25.63%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Evercore ISI lifted their price objective on Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. TD Securities 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. UBS Group decreased their price objective on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Jefferies Financial Group increased their price objective on shares of Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Finally, Bank of America cut their target price on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $90.87.

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.