Orrstown Financial Services Inc. Purchases 7,189 Shares of Lam Research Co. (NASDAQ:LRCX)

Orrstown Financial Services Inc. grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 907.7% in the 4th quarter, HoldingsChannel reports. The fund owned 7,981 shares of the semiconductor company’s stock after buying an additional 7,189 shares during the period. Orrstown Financial Services Inc.’s holdings in Lam Research were worth $576,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Parisi Gray Wealth Management raised its holdings in Lam Research by 652.9% during the fourth 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 last quarter. Burns J W & Co. Inc. NY bought a new stake in shares of Lam Research during the fourth quarter worth about $815,000. Jennison Associates LLC raised its holdings in shares of Lam Research by 20.0% in the 3rd 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 last quarter. Creative Planning lifted its position in Lam Research by 2.5% in the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock valued at $38,664,000 after acquiring an additional 1,146 shares in the last quarter. Finally, Vest Financial LLC boosted its stake in 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 last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group dropped their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. BNP Paribas upgraded Lam Research to a “hold” rating in a research note on Thursday, October 24th. Sanford C. Bernstein reduced their target price on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a research note on Friday, November 29th. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Finally, Mizuho decreased their price objective on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.77.

Lam Research Price Performance

LRCX traded up $0.94 during trading on Wednesday, reaching $75.45. 2,917,546 shares of the company were exchanged, compared to its average volume of 11,314,388. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The company has a market cap of $97.09 billion, a price-to-earnings ratio of 24.35, a P/E/G ratio of 1.53 and a beta of 1.45. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The company’s 50-day moving average is $75.62 and its two-hundred day moving average is $79.15.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is presently 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.