Webster Bank N. A. Makes New Investment in Lam Research Co. (NASDAQ:LRCX)

Webster Bank N. A. acquired a new stake in Lam Research Co. (NASDAQ:LRCX - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 24,686 shares of the semiconductor company's stock, valued at approximately $1,795,000.

Other hedge funds have also bought and sold shares of the company. Centerpoint Advisors LLC increased its holdings in Lam Research by 900.0% during the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock worth $72,000 after acquiring an additional 900 shares during the period. E. Ohman J or Asset Management AB bought a new stake in Lam Research during the 4th quarter worth approximately $4,258,000. Huntington National Bank increased its holdings 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 acquiring an additional 266,527 shares during the period. ICICI Prudential Asset Management Co Ltd raised its stake in Lam Research by 1,401.1% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 70,475 shares of the semiconductor company's stock valued at $5,090,000 after purchasing an additional 65,780 shares in the last quarter. Finally, Cerity Partners LLC raised its stake in Lam Research by 781.9% in the fourth quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company's stock valued at $23,920,000 after purchasing an additional 293,619 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Trading Up 1.7%

Lam Research stock traded up $1.38 during trading hours on Monday, reaching $82.17. The stock had a trading volume of 4,681,042 shares, compared to its average volume of 12,237,433. The stock has a market cap of $105.11 billion, a PE ratio of 24.99, a PEG ratio of 1.47 and a beta of 1.64. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The company has a fifty day simple moving average of $73.45 and a 200-day simple moving average of $75.94.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (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 analyst estimates of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The company's revenue was up 24.4% on a year-over-year basis. During the same quarter last year, the firm earned $7.79 EPS. Analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.12%. Lam Research's dividend payout ratio is 25.63%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $90.00 price target on shares of Lam Research in a report on Thursday, April 24th. Needham & Company LLC decreased their price target on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Stifel Nicolaus decreased 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. TD Securities decreased their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Argus raised shares of Lam Research to a "strong-buy" rating in a report on Friday, April 25th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Lam Research presently has an average rating of "Moderate Buy" and an average target price of $91.56.

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.