Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Community Bank N.A.

Community Bank N.A. increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 12.5% during the third quarter, HoldingsChannel reports. The fund owned 1,765 shares of the semiconductor company’s stock after buying an additional 196 shares during the period. Community Bank N.A.’s holdings in Lam Research were worth $1,440,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Fortitude Family Office LLC grew its holdings in shares of Lam Research by 16.7% during the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock worth $67,000 after purchasing an additional 9 shares during the period. Thomasville National Bank lifted its position in Lam Research by 1.5% during the second quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock valued at $865,000 after buying an additional 12 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its stake in Lam Research by 3.7% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock worth $357,000 after buying an additional 12 shares during the period. Ignite Planners LLC increased its position in shares of Lam Research by 2.8% in the second quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock worth $484,000 after acquiring an additional 12 shares in the last quarter. Finally, RFP Financial Group LLC raised its stake in shares of Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 12 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of LRCX opened at $73.88 on Monday. 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 firm has a market cap of $95.06 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 1.17 and a beta of 1.48. Lam Research Co. has a 52 week low of $68.72 and a 52 week high of $113.00. The stock has a 50 day moving average of $76.52 and a 200-day moving average of $86.64.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the previous year, the firm earned $6.85 earnings per share. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. As a group, analysts forecast that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.25%. Lam Research’s payout ratio is currently 29.74%.

Analysts Set New Price Targets

Several analysts recently issued reports on LRCX shares. Morgan Stanley lowered their price target on Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Sanford C. Bernstein lowered their target price on Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a research note on Friday. BNP Paribas raised Lam Research to a “hold” rating in a research report on Thursday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Lam Research in a research report on Thursday, October 24th. Finally, UBS Group reduced their target price on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.29.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. The trade was a 13.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

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.