Somerset Trust Co Makes New $238,000 Investment in Lam Research Co. (NASDAQ:LRCX)

Somerset Trust Co bought a new stake in Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 3,297 shares of the semiconductor company’s stock, valued at approximately $238,000.

Other institutional investors have also recently made changes to their positions in the company. Parisi Gray Wealth Management boosted its holdings in Lam Research by 652.9% in the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after buying an additional 7,241 shares during the period. Burns J W & Co. Inc. NY purchased a new stake in shares of Lam Research during the fourth quarter worth $815,000. Jennison Associates LLC boosted its holdings in shares of Lam Research by 20.0% in the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after acquiring an additional 39,725 shares during the period. Creative Planning grew its position in shares of Lam Research by 2.5% in the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock valued at $38,664,000 after purchasing an additional 1,146 shares in the last quarter. Finally, Vest Financial LLC raised its stake in shares of Lam Research by 68.7% during the 3rd quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock valued at $29,372,000 after purchasing an additional 14,658 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on LRCX. The Goldman Sachs Group cut their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price target (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Morgan Stanley boosted their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Finally, Wells Fargo & Company lowered their price objective on Lam Research from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.77.

Lam Research Stock Up 1.4 %

LRCX opened at $80.30 on Friday. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The business’s 50-day moving average price is $74.68 and its 200-day moving average price is $80.99. The company has a market cap of $103.32 billion, a P/E ratio of 25.95, a P/E/G ratio of 1.37 and a beta of 1.45.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the firm earned $6.85 EPS. On average, equities analysts expect that Lam Research Co. will post 3.51 EPS for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.15%. Lam Research’s payout ratio is currently 29.74%.

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.