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

Wesbanco Bank Inc. boosted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 955.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,230 shares of the semiconductor company’s stock after buying an additional 2,924 shares during the quarter. Wesbanco Bank Inc.’s holdings in Lam Research were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Quarry LP grew its position in Lam Research by 175.0% during the second quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock valued at $94,000 after buying an additional 56 shares during the period. NCP Inc. bought a new stake in Lam Research during the second quarter valued at approximately $213,000. Migdal Insurance & Financial Holdings Ltd. grew its position in Lam Research by 2,400.0% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after buying an additional 192 shares during the period. Advisory Alpha LLC bought a new stake in Lam Research during the second quarter valued at approximately $256,000. Finally, Silver Lake Advisory LLC bought a new stake in Lam Research during the second quarter valued at approximately $261,000. 84.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. Sanford C. Bernstein dropped their price target on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a research report on Friday, November 29th. Barclays dropped their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Morgan Stanley upped their price target on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Finally, BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $95.77.

Lam Research Price Performance

Lam Research stock opened at $79.68 on Friday. The company has a market cap of $102.52 billion, a price-to-earnings ratio of 25.75, a PEG ratio of 1.53 and a beta of 1.45. The firm’s fifty day moving average is $75.24 and its 200 day moving average is $80.07. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00.

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

Lam Research Dividend Announcement

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

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.