Zions Bancorporation National Association UT Acquires Shares of 8,477 Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Zions Bancorporation National Association UT acquired a new stake in Lam Research Corporation, purchasing 8,477 shares valued at approximately $616,000 during the 1st quarter.
• Lam Research's stock has seen significant interest from institutional investors, with firm holdings increasing by as much as 1,367.4% from previous quarters.
• Analysts have raised their price targets on Lam Research, with the average target indicating a potential upside to $107.09 and a consensus rating of "Moderate Buy".

Zions Bancorporation National Association UT acquired a new stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 8,477 shares of the semiconductor company's stock, valued at approximately $616,000.

A number of other institutional investors have also modified their holdings of LRCX. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Lam Research during the first quarter worth about $26,000. West Paces Advisors Inc. acquired a new stake in Lam Research in the 4th quarter worth about $27,000. Mpwm Advisory Solutions LLC purchased a new stake in Lam Research during the 4th quarter worth approximately $27,000. Park Square Financial Group LLC purchased a new position in shares of Lam Research in the fourth quarter valued at approximately $31,000. Finally, Putney Financial Group LLC acquired a new stake in shares of Lam Research in the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

LRCX has been the topic of a number of research analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $115.00 price target (up from $90.00) on shares of Lam Research in a research note on Tuesday, June 24th. Mizuho lifted their price target on Lam Research from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Deutsche Bank Aktiengesellschaft set a $70.00 price target on Lam Research and gave the stock a "hold" rating in a research note on Thursday, April 24th. Raymond James Financial raised their target price on shares of Lam Research from $90.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, Evercore ISI raised their target price on shares of Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $107.09.

Lam Research Stock Up 0.2%

Shares of Lam Research stock traded up $0.25 during trading hours on Monday, reaching $102.00. 8,633,919 shares of the company were exchanged, compared to its average volume of 11,957,262. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $104.15. The stock's fifty day moving average is $95.53 and its 200 day moving average is $83.04. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.55 and a current ratio of 2.21. The firm has a market cap of $130.47 billion, a PE ratio of 24.52, a PEG ratio of 1.32 and a beta of 1.65.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.21 by $0.12. The firm had revenue of $5.17 billion for the quarter, compared to analyst estimates of $4.99 billion. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. Lam Research's revenue for the quarter was up 33.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 earnings per share. As a group, equities research 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 announced a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's dividend payout ratio is 22.12%.

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.