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

Fifth Third Bancorp boosted its holdings in Lam Research Co. (NASDAQ:LRCX) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 157,781 shares of the semiconductor company’s stock after purchasing 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 reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Fairway Wealth LLC increased its position in shares of Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 306 shares during the period. Financial Perspectives Inc increased its position in shares of Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 309 shares during the period. West Paces Advisors Inc. purchased a new position in shares of Lam Research in the fourth quarter valued at about $27,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Lam Research during the fourth quarter valued at about $27,000. Finally, Midwest Capital Advisors LLC purchased a new position in shares of Lam Research during the fourth quarter valued at about $27,000. 84.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on LRCX shares. Morgan Stanley boosted their price target on shares of Lam Research from $81.00 to $82.00 and gave the company an “equal weight” rating in a research report on Thursday, April 24th. UBS Group reduced their price target on shares of Lam Research from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and boosted their price target for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft set a $70.00 price target on shares of Lam Research and gave the company a “hold” rating in a research report on Thursday, April 24th. Finally, TD Cowen cut their price objective on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and an average price target of $90.87.

Lam Research Trading Down 2.3%

Shares of NASDAQ LRCX opened at $89.52 on Friday. The firm’s 50 day moving average price is $77.13 and its 200-day moving average price is $76.97. The company has a market cap of $114.51 billion, a PE ratio of 27.19, a P/E/G ratio of 1.47 and a beta of 1.65. Lam Research Co. has a 52-week low of $56.32 and a 52-week high of $113.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

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

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 1.03%. Lam Research’s dividend payout ratio (DPR) is 25.63%.

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.