Fifth Third Bancorp Grows Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Fifth Third Bancorp lifted its position in Lam Research Co. (NASDAQ:LRCX) by 797.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 155,044 shares of the semiconductor company’s stock after purchasing an additional 137,768 shares during the quarter. Fifth Third Bancorp’s holdings in Lam Research were worth $11,199,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of LRCX. Parisi Gray Wealth Management grew its position in Lam Research by 652.9% during the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock valued at $603,000 after acquiring an additional 7,241 shares during the last quarter. Burns J W & Co. Inc. NY bought a new position in shares of Lam Research during the 4th quarter valued at $815,000. Jennison Associates LLC lifted its stake in Lam Research by 20.0% in the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after purchasing an additional 39,725 shares during the last quarter. Creative Planning boosted its position in Lam Research by 2.5% during the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock valued at $38,664,000 after buying an additional 1,146 shares during the period. Finally, Vest Financial LLC grew its stake in shares of Lam Research by 68.7% during the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock valued at $29,372,000 after buying an additional 14,658 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on LRCX shares. B. Riley dropped their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Sanford C. Bernstein decreased their target price on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a research note on Friday, November 29th. Wells Fargo & Company cut their price target on shares of Lam Research from $83.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Finally, StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $95.77.

Lam Research Price Performance

Shares of LRCX opened at $79.68 on Friday. The firm’s 50-day simple moving average is $75.43 and its two-hundred day simple moving average is $80.07. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The stock 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. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53.

Lam Research (NASDAQ:LRCX) last posted 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 company had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same quarter last year, the company earned $6.85 EPS. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. Analysts anticipate that Lam Research Co. will post 3.51 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

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

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.