Orrstown Financial Services Inc. Has $576,000 Holdings in Lam Research Co. (NASDAQ:LRCX)

Orrstown Financial Services Inc. boosted its holdings in Lam Research Co. (NASDAQ:LRCX) by 907.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,981 shares of the semiconductor company’s stock after purchasing an additional 7,189 shares during the quarter. Orrstown Financial Services Inc.’s holdings in Lam Research were worth $576,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Field & Main Bank grew its holdings in shares of Lam Research by 801.5% during the 4th quarter. Field & Main Bank now owns 2,380 shares of the semiconductor company’s stock worth $172,000 after purchasing an additional 2,116 shares in the last quarter. Strategic Blueprint LLC lifted its position in Lam Research by 1,129.9% during the fourth quarter. Strategic Blueprint LLC now owns 9,790 shares of the semiconductor company’s stock worth $707,000 after purchasing an additional 8,994 shares during the period. Forsta AP Fonden acquired a new stake in Lam Research during the fourth quarter worth about $29,759,000. Foster Victor Wealth Advisors LLC raised its position in shares of Lam Research by 5.1% in the 4th quarter. Foster Victor Wealth Advisors LLC now owns 244,891 shares of the semiconductor company’s stock valued at $17,688,000 after buying an additional 11,990 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of Lam Research by 779.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 943,240 shares of the semiconductor company’s stock worth $68,130,000 after acquiring an additional 836,044 shares during the period. Institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the subject of several research analyst reports. B. Riley lowered their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Needham & Company LLC reissued a “buy” rating and set a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Morgan Stanley boosted their target price on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Lam Research has an average rating of “Moderate Buy” and a consensus target price of $95.77.

Lam Research Trading Up 1.3 %

Shares of Lam Research stock traded up $0.94 during midday trading on Wednesday, reaching $75.45. The company had a trading volume of 2,917,546 shares, compared to its average volume of 11,314,388. The firm has a market cap of $97.09 billion, a PE ratio of 24.35, a P/E/G ratio of 1.53 and a beta of 1.45. The stock has a fifty day moving average price of $75.62 and a 200 day moving average price of $79.15. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

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.