Community Bank N.A. Sells 34 Shares of Lam Research Co. (NASDAQ:LRCX)

Community Bank N.A. lowered its stake in Lam Research Co. (NASDAQ:LRCX) by 2.1% during the 4th quarter, Holdings Channel reports. The firm owned 1,572 shares of the semiconductor company’s stock after selling 34 shares during the quarter. Community Bank N.A.’s holdings in Lam Research were worth $1,231,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Morgan Stanley lifted its stake in Lam Research by 3.2% in the 3rd quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock worth $1,164,490,000 after purchasing an additional 56,824 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Lam Research by 10.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock worth $1,029,386,000 after purchasing an additional 159,815 shares in the last quarter. Northern Trust Corp lifted its stake in Lam Research by 9.7% in the 3rd quarter. Northern Trust Corp now owns 1,523,215 shares of the semiconductor company’s stock worth $954,705,000 after purchasing an additional 134,558 shares in the last quarter. WCM Investment Management LLC lifted its stake in Lam Research by 0.6% in the 4th quarter. WCM Investment Management LLC now owns 600,594 shares of the semiconductor company’s stock worth $474,271,000 after purchasing an additional 3,717 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in Lam Research by 12.0% in the 4th quarter. Nordea Investment Management AB now owns 453,787 shares of the semiconductor company’s stock worth $355,025,000 after purchasing an additional 48,482 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Up 2.9 %

NASDAQ:LRCX traded up $25.34 during midday trading on Thursday, reaching $910.23. 661,105 shares of the stock traded hands, compared to its average volume of 1,063,050. Lam Research Co. has a 12-month low of $493.42 and a 12-month high of $1,007.39. The business has a 50-day moving average of $943.93 and a two-hundred day moving average of $806.38. 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 stock has a market capitalization of $119.33 billion, a PE ratio of 35.20, a price-to-earnings-growth 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 EPS for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the prior year, the company posted $6.99 earnings per share. Lam Research’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities analysts forecast that Lam Research Co. will post 28.96 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

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

Insider Activity at Lam Research

In other Lam Research news, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the transaction, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of the transaction, the director now owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Christina Corrreia sold 647 shares of the firm’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 $628,903.41. Following the completion of the transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Insiders sold 7,029 shares of company stock valued at $6,559,489 over the last 90 days. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Evercore ISI assumed coverage on shares of Lam Research in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 target price on the stock. Raymond James upped their target price on shares of Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. The Goldman Sachs Group upped their target price on shares of Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. B. Riley upgraded shares of Lam Research from a “neutral” rating to a “buy” rating and upped their target price for the company from $870.00 to $1,100.00 in a research report on Friday, April 19th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Lam Research in a report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 price target on the stock. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus price target of $948.35.

About Lam Research

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.