Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Fulton Bank N.A.

Fulton Bank N.A. boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 665.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 14,221 shares of the semiconductor company’s stock after purchasing an additional 12,364 shares during the period. Fulton Bank N.A.’s holdings in Lam Research were worth $1,027,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LRCX. Range Financial Group LLC purchased a new position in Lam Research in the 4th quarter valued at about $286,000. Rise Advisors LLC acquired a new position in shares of Lam Research during the fourth quarter valued at approximately $54,000. Stonehearth Capital Management LLC lifted its position in shares of Lam Research by 802.3% in the fourth quarter. Stonehearth Capital Management LLC now owns 2,788 shares of the semiconductor company’s stock valued at $201,000 after acquiring an additional 2,479 shares in the last quarter. Diversified Trust Co boosted its stake in shares of Lam Research by 8.3% in the fourth quarter. Diversified Trust Co now owns 3,741 shares of the semiconductor company’s stock worth $270,000 after acquiring an additional 286 shares during the last quarter. Finally, Fortem Financial Group LLC increased its position in shares of Lam Research by 928.9% during the fourth quarter. Fortem Financial Group LLC now owns 3,910 shares of the semiconductor company’s stock worth $282,000 after purchasing an additional 3,530 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Price Performance

Lam Research stock opened at $77.04 on Thursday. The company’s 50 day simple moving average is $74.67 and its 200-day simple moving average is $82.05. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The company has a market capitalization of $99.13 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same period in the prior year, the firm earned $6.85 earnings per share. The firm’s revenue was up 19.7% compared to the same quarter last year. As a group, equities research analysts expect that Lam Research Co. will post 3.5 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.77%.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of research reports. Morgan Stanley raised their price objective on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. UBS Group dropped their price objective on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Mizuho decreased their target price on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Finally, Sanford C. Bernstein dropped their price target on Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a research report on Friday, November 29th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and a consensus target price of $97.24.

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.