Community Bank N.A. Decreases Position in Lam Research Co. (NASDAQ:LRCX)

Community Bank N.A. decreased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,572 shares of the semiconductor company’s stock after selling 34 shares during the period. Community Bank N.A.’s holdings in Lam Research were worth $1,231,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. International Assets Investment Management LLC lifted its position in Lam Research by 76,165.7% during the fourth quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company’s stock valued at $249,099,000 after purchasing an additional 317,611 shares during the period. Cerity Partners LLC increased its stake in shares of Lam Research by 1,125.6% in the fourth quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company’s stock worth $267,984,000 after purchasing an additional 314,224 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Lam Research by 10.8% during the third quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock valued at $1,029,386,000 after acquiring an additional 159,815 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Lam Research by 106.5% during the third quarter. Canada Pension Plan Investment Board now owns 301,071 shares of the semiconductor company’s stock valued at $188,702,000 after acquiring an additional 155,240 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Lam Research by 9.7% during the third quarter. Northern Trust Corp now owns 1,523,215 shares of the semiconductor company’s stock valued at $954,705,000 after acquiring an additional 134,558 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX traded up $25.34 during trading hours on Thursday, hitting $910.23. The stock had a trading volume of 661,105 shares, compared to its average volume of 1,063,050. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The firm has a 50-day moving average price of $943.93 and a 200 day moving average price of $806.38. Lam Research Co. has a fifty-two week low of $493.42 and a fifty-two week high of $1,007.39. The firm has a market capitalization of $119.33 billion, a price-to-earnings ratio of 35.20, a PEG ratio of 3.21 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.26 by $0.53. The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The business’s revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $6.99 EPS. As a group, research analysts anticipate that Lam Research Co. will post 28.96 EPS for the current year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Tuesday, March 12th. Lam Research’s dividend payout ratio is presently 30.94%.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Abhijit Y. Talwalkar sold 882 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $857,330.46. Following the sale, the director now directly owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,029 shares of company stock worth $6,559,489. Company insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on LRCX shares. Raymond James lifted their price objective on shares of Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. lifted their price objective on shares of Lam Research from $900.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday. UBS Group lifted their price objective on shares of Lam Research from $1,130.00 to $1,150.00 and gave the company a “buy” rating in a report on Thursday. TD Cowen raised their target price on shares of Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday. Finally, The Goldman Sachs Group lifted their price objective on shares of Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Lam Research has an average rating of “Moderate Buy” and an average price target of $948.35.

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.