Fifth Third Bancorp Buys 2,737 Shares of Lam Research Co. (NASDAQ:LRCX)

Fifth Third Bancorp raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 157,781 shares of the semiconductor company’s stock after buying an additional 2,737 shares during the period. Fifth Third Bancorp’s holdings in Lam Research were worth $11,471,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LRCX. One Charles Private Wealth Services LLC increased its holdings in Lam Research by 843.4% during the fourth quarter. One Charles Private Wealth Services LLC now owns 4,000 shares of the semiconductor company’s stock valued at $289,000 after buying an additional 3,576 shares during the last quarter. Brighton Jones LLC raised its position in shares of Lam Research by 1,032.4% during the 4th quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company’s stock valued at $1,025,000 after purchasing an additional 12,936 shares during the period. Stephens Inc. AR raised its position in shares of Lam Research by 1,410.7% during the 4th quarter. Stephens Inc. AR now owns 6,194 shares of the semiconductor company’s stock valued at $447,000 after purchasing an additional 5,784 shares during the period. Savant Capital LLC raised its position in shares of Lam Research by 893.5% during the 4th quarter. Savant Capital LLC now owns 22,790 shares of the semiconductor company’s stock valued at $1,646,000 after purchasing an additional 20,496 shares during the period. Finally, Essex Financial Services Inc. bought a new stake in shares of Lam Research during the 4th quarter valued at $400,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on LRCX shares. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on shares of Lam Research and gave the company a “hold” rating in a research report on Thursday, April 24th. Wells Fargo & Company decreased their price objective on shares of Lam Research from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. B. Riley restated a “buy” rating on shares of Lam Research in a research report on Thursday, April 24th. Oppenheimer decreased their price objective on shares of Lam Research from $95.00 to $80.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Finally, Morgan Stanley raised their target price on shares of Lam Research from $81.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average target price of $90.87.

Lam Research Stock Performance

Shares of NASDAQ:LRCX opened at $89.52 on Friday. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The stock has a market capitalization of $114.51 billion, a P/E ratio of 27.19, a PEG ratio of 1.47 and a beta of 1.65. The firm has a fifty day simple moving average of $77.13 and a two-hundred day simple moving average of $76.97. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The business had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same period last year, the company posted $7.79 EPS. The business’s revenue was up 24.4% on a year-over-year basis. On average, analysts expect that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.03%. Lam Research’s dividend payout ratio (DPR) is presently 25.63%.

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.