Wesbanco Bank Inc. Purchases 2,924 Shares of Lam Research Co. (NASDAQ:LRCX)

Wesbanco Bank Inc. boosted its position in Lam Research Co. (NASDAQ:LRCX) by 955.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,230 shares of the semiconductor company’s stock after acquiring an additional 2,924 shares during the period. Wesbanco Bank Inc.’s holdings in Lam Research were worth $233,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in LRCX. Van ECK Associates Corp grew its holdings in Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after acquiring an additional 15,005,178 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Lam Research in the 4th quarter worth $175,652,000. Janney Montgomery Scott LLC bought a new stake in Lam Research in the 4th quarter worth $35,253,000. Guinness Asset Management LTD boosted its stake in shares of Lam Research by 1,129.8% during the 4th quarter. Guinness Asset Management LTD now owns 482,156 shares of the semiconductor company’s stock valued at $34,825,000 after purchasing an additional 442,949 shares in the last quarter. Finally, ARS Investment Partners LLC boosted its stake in shares of Lam Research by 908.9% during the 4th quarter. ARS Investment Partners LLC now owns 490,881 shares of the semiconductor company’s stock valued at $35,456,000 after purchasing an additional 442,224 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Down 1.9 %

Shares of Lam Research stock opened at $79.68 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The stock has a market capitalization 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 52-week low of $68.87 and a 52-week high of $113.00. The company has a 50-day simple moving average of $75.24 and a two-hundred day simple moving average of $80.07.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same period in the previous year, the company earned $6.85 earnings per share. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. On average, analysts anticipate that Lam Research Co. will post 3.51 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were issued a dividend of $0.23 per share. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.15%. Lam Research’s payout ratio is 29.74%.

Wall Street Analyst Weigh In

LRCX has been the topic of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Mizuho cut their target price on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. BNP Paribas raised shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 target price (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $95.77.

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.