Union Savings Bank Increases Position in Lam Research Co. (NASDAQ:LRCX)

Union Savings Bank increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 900.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,250 shares of the semiconductor company’s stock after acquiring an additional 1,125 shares during the period. Union Savings Bank’s holdings in Lam Research were worth $90,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zhang Financial LLC boosted its stake in shares of Lam Research by 962.0% during the 4th quarter. Zhang Financial LLC now owns 3,717 shares of the semiconductor company’s stock worth $268,000 after acquiring an additional 3,367 shares in the last quarter. Guinness Atkinson Asset Management Inc raised its holdings in Lam Research by 948.1% during the fourth quarter. Guinness Atkinson Asset Management Inc now owns 78,555 shares of the semiconductor company’s stock worth $5,674,000 after purchasing an additional 71,060 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in Lam Research by 887.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 4,098 shares of the semiconductor company’s stock worth $296,000 after purchasing an additional 3,683 shares in the last quarter. Guinness Asset Management LTD grew its holdings in Lam Research by 1,129.8% in the fourth quarter. Guinness Asset Management LTD now owns 482,156 shares of the semiconductor company’s stock valued at $34,825,000 after purchasing an additional 442,949 shares during the last quarter. Finally, Thrive Wealth Management LLC increased its position in shares of Lam Research by 774.8% in the fourth quarter. Thrive Wealth Management LLC now owns 2,878 shares of the semiconductor company’s stock valued at $208,000 after buying an additional 2,549 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Price Performance

LRCX stock opened at $80.30 on Monday. The company has a market cap of $103.32 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 1.37 and a beta of 1.45. 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 stock has a 50-day moving average price of $74.73 and a two-hundred day moving average price of $80.81. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00.

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

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Wednesday, December 11th. Lam Research’s dividend payout ratio is presently 29.74%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Wells Fargo & Company reduced their price target on shares of Lam Research from $83.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Stifel Nicolaus restated a “buy” rating and set a $100.00 price objective (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Morgan Stanley increased their target price on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Finally, The Goldman Sachs Group dropped their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and an average target price of $95.77.

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.