Central Bank & Trust Co. Invests $6.13 Million in Lam Research Co. (NASDAQ:LRCX)

Central Bank & Trust Co. acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 84,284 shares of the semiconductor company’s stock, valued at approximately $6,127,000.

A number of other institutional investors and hedge funds have also made changes to their positions in LRCX. Financial Perspectives Inc grew its position in shares of Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after buying an additional 309 shares in the last quarter. Fairway Wealth LLC grew its position in shares of Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after buying an additional 306 shares in the last quarter. Midwest Capital Advisors LLC acquired a new position in shares of Lam Research during the fourth quarter worth about $27,000. West Paces Advisors Inc. acquired a new position in shares of Lam Research during the fourth quarter worth about $27,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in shares of Lam Research during the fourth quarter worth about $27,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on LRCX. Mizuho boosted their target price on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on Lam Research and gave the stock a “hold” rating in a report on Thursday, April 24th. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and upped their price objective for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 target price on shares of Lam Research in a report on Thursday, April 24th. Finally, TD Securities lowered their target price on Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.87.

Lam Research Trading Up 1.7%

Shares of LRCX stock opened at $86.35 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. Lam Research Co. has a 1 year low of $56.32 and a 1 year high of $113.00. The stock has a fifty day moving average of $74.51 and a two-hundred day moving average of $76.40. The firm has a market capitalization of $110.45 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.04. The business had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The company’s revenue was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $7.79 earnings per share. As a group, research analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

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 dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research’s dividend payout ratio (DPR) is presently 25.63%.

Lam Research Company 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.