VeraBank N.A. Acquires 4,936 Shares of Lam Research Co. (NASDAQ:LRCX)

VeraBank N.A. lifted its holdings in Lam Research Co. (NASDAQ:LRCX) by 904.0% in the fourth quarter, Holdings Channel reports. The fund owned 5,482 shares of the semiconductor company’s stock after purchasing an additional 4,936 shares during the quarter. VeraBank N.A.’s holdings in Lam Research were worth $396,000 at the end of the most recent quarter.

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

Lam Research Stock Performance

Shares of LRCX stock opened at $82.75 on Friday. The firm has a market cap of $106.22 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 1.37 and a beta of 1.46. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The company’s 50 day moving average is $77.48 and its 200 day moving average is $77.99.

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 analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. On average, sell-side analysts anticipate that Lam Research Co. will post 3.69 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.95%.

Analyst Upgrades and Downgrades

LRCX has been the subject of several analyst reports. Cantor Fitzgerald upgraded shares of Lam Research from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $95.00 to $100.00 in a report on Thursday, January 30th. Barclays dropped their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. BNP Paribas upgraded Lam Research to a “hold” rating in a report on Thursday, October 24th. Mizuho dropped their price objective on Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Finally, The Goldman Sachs Group cut their price objective on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $95.72.

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.