Farmers Trust Co. Grows Holdings in Lam Research Co. (NASDAQ:LRCX)

Farmers Trust Co. grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 821.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,930 shares of the semiconductor company’s stock after purchasing an additional 2,612 shares during the period. Farmers Trust Co.’s holdings in Lam Research were worth $212,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Fulton Bank N.A. boosted its position in Lam Research by 665.8% during the fourth quarter. Fulton Bank N.A. now owns 14,221 shares of the semiconductor company’s stock worth $1,027,000 after acquiring an additional 12,364 shares during the last quarter. Range Financial Group LLC acquired a new stake in shares of Lam Research during the fourth quarter worth $286,000. Rise Advisors LLC acquired a new stake in shares of Lam Research during the fourth quarter worth $54,000. Stonehearth Capital Management LLC grew 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 purchasing an additional 2,479 shares during the period. Finally, Diversified Trust Co lifted its position in Lam Research by 8.3% during the fourth quarter. Diversified Trust Co now owns 3,741 shares of the semiconductor company’s stock worth $270,000 after buying an additional 286 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the company. UBS Group lowered their price target on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Sanford C. Bernstein dropped their price target on shares of 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. Citigroup decreased their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a report on Monday, September 16th. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. Finally, B. Riley dropped their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.24.

Lam Research Stock Performance

NASDAQ:LRCX opened at $77.04 on Thursday. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00. The stock has a market cap of $99.13 billion, a P/E ratio of 24.90, a PEG ratio of 1.22 and a beta of 1.45. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The firm has a 50-day moving average of $74.67 and a two-hundred day moving average of $82.05.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating 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 firm had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same quarter last year, the firm earned $6.85 EPS. Lam Research’s quarterly revenue was up 19.7% on a year-over-year basis. On average, research analysts expect that Lam Research Co. will post 3.5 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were paid 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 1.19%. Lam Research’s dividend payout ratio (DPR) is 29.77%.

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.