Lam Research Co. (NASDAQ:LRCX) Stake Lifted by First Commonwealth Financial Corp PA

First Commonwealth Financial Corp PA raised its stake in Lam Research Co. (NASDAQ:LRCX) by 969.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 13,133 shares of the semiconductor company’s stock after buying an additional 11,905 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in Lam Research were worth $949,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Lam Research by 892.7% during the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock valued at $8,724,498,000 after purchasing an additional 108,619,564 shares during the period. FMR LLC raised its holdings in shares of Lam Research by 1,032.6% during the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock valued at $2,891,453,000 after buying an additional 36,496,689 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Lam Research by 907.1% during the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock worth $2,265,610,000 after buying an additional 28,307,499 shares during the period. Norges Bank bought a new position in Lam Research in the 4th quarter worth approximately $1,661,672,000. Finally, Fisher Asset Management LLC increased its position in Lam Research by 892.7% in the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock valued at $1,341,902,000 after acquiring an additional 16,706,708 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Price Performance

LRCX opened at $65.14 on Thursday. The stock has a fifty day moving average price of $75.58 and a 200 day moving average price of $76.17. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 1 year low of $56.32 and a 1 year high of $113.00. The stock has a market cap of $83.62 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 1.47 and a beta of 1.52.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.23 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.41%. Lam Research’s dividend payout ratio is currently 27.96%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on LRCX shares. Jefferies Financial Group increased their price target on Lam Research from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, March 28th. Mizuho raised their target price on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. UBS Group reduced their price target on shares of Lam Research from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Monday. Wells Fargo & Company raised their price objective on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 target price on shares of Lam Research in a research report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average price target of $93.87.

Insider Activity at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by company insiders.

Lam Research 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.