First Citizens Bank & Trust Co. Has $5.96 Million Stake in Lam Research Co. (NASDAQ:LRCX)

First Citizens Bank & Trust Co. increased its position in Lam Research Co. (NASDAQ:LRCX) by 924.7% in the fourth quarter, HoldingsChannel reports. The firm owned 82,488 shares of the semiconductor company’s stock after acquiring an additional 74,438 shares during the period. First Citizens Bank & Trust Co.’s holdings in Lam Research were worth $5,958,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP lifted its position in Lam Research by 175.0% in the 2nd quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock worth $94,000 after buying an additional 56 shares in the last quarter. NCP Inc. purchased a new stake in Lam Research in the 2nd quarter worth approximately $213,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in Lam Research by 2,400.0% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock worth $163,000 after buying an additional 192 shares in the last quarter. Advisory Alpha LLC purchased a new stake in Lam Research in the 2nd quarter worth approximately $256,000. Finally, Silver Lake Advisory LLC purchased a new stake in Lam Research in the 2nd quarter worth approximately $261,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LRCX. Sanford C. Bernstein cut their target price 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. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Morgan Stanley raised their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Barclays cut their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Finally, StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.77.

Lam Research Price Performance

NASDAQ:LRCX opened at $79.68 on Friday. The firm has a market cap of $102.52 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 1.53 and a beta of 1.45. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. 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 company’s 50-day moving average price is $75.43 and its two-hundred day moving average price is $80.07.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company’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 business earned $6.85 earnings per share. On average, equities analysts anticipate that Lam Research Co. will post 3.51 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were given a $0.23 dividend. The ex-dividend date of this dividend 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 presently 29.74%.

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.