Fulton Bank N.A. Buys 12,364 Shares of Lam Research Co. (NASDAQ:LRCX)

Fulton Bank N.A. boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 665.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,221 shares of the semiconductor company’s stock after purchasing an additional 12,364 shares during the quarter. Fulton Bank N.A.’s holdings in Lam Research were worth $1,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LRCX. Quarry LP boosted its holdings in shares of Lam Research by 175.0% in the 2nd quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock valued at $94,000 after buying an additional 56 shares in the last quarter. Lantz Financial LLC purchased a new stake in Lam Research during the second quarter valued at approximately $212,000. NCP Inc. acquired a new stake in Lam Research in the second quarter valued at approximately $213,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Lam Research by 2,400.0% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock worth $163,000 after purchasing an additional 192 shares during the last quarter. Finally, Excalibur Management Corp acquired a new position in shares of Lam Research during the second quarter worth $225,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on LRCX shares. 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. Citigroup dropped their price target on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research note on Monday, September 16th. BNP Paribas raised shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. Cantor Fitzgerald reissued a “neutral” rating and set a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and a consensus price target of $97.24.

Lam Research Stock Down 0.6 %

Lam Research stock opened at $77.04 on Thursday. The business’s 50-day moving average price is $74.67 and its 200 day moving average price is $82.05. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The firm has a market cap 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 Co. has a 52 week low of $68.87 and a 52 week high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data 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 net margin of 26.02% and a return on equity of 50.60%. The business had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter last year, the company earned $6.85 EPS. The business’s revenue was up 19.7% on a year-over-year basis. As a group, sell-side analysts anticipate 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. Stockholders of record on Wednesday, December 11th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s payout ratio is currently 29.77%.

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.