Somerset Trust Co Takes $238,000 Position in Lam Research Co. (NASDAQ:LRCX)

Somerset Trust Co acquired a new stake in Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 3,297 shares of the semiconductor company’s stock, valued at approximately $238,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its holdings in shares of Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after buying an additional 15,005,178 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Lam Research during the 4th quarter worth $175,652,000. Neville Rodie & Shaw Inc. increased its holdings in Lam Research by 886.9% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 349,792 shares of the semiconductor company’s stock worth $25,266,000 after purchasing an additional 314,349 shares in the last quarter. Czech National Bank raised its position in Lam Research by 950.4% in the fourth quarter. Czech National Bank now owns 278,979 shares of the semiconductor company’s stock valued at $20,151,000 after purchasing an additional 252,420 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its stake in shares of Lam Research by 215.4% during the third quarter. Two Sigma Advisers LP now owns 341,900 shares of the semiconductor company’s stock valued at $279,018,000 after purchasing an additional 233,500 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Up 1.4 %

LRCX stock opened at $80.30 on Friday. The stock’s 50 day moving average is $74.68 and its 200-day moving average is $80.99. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The firm has a market capitalization of $103.32 billion, a PE ratio of 25.95, a P/E/G ratio of 1.37 and a beta of 1.45. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data 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. The firm had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.85 EPS. Sell-side analysts expect that Lam Research Co. will post 3.51 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were issued a dividend of $0.23 per share. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.15%. Lam Research’s dividend payout ratio (DPR) is currently 29.74%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LRCX shares. Barclays dropped their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday. Wells Fargo & Company reduced their price objective on shares of Lam Research from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Finally, StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average price target of $95.77.

Lam Research Company 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.