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

Fifth Third Bancorp lifted its holdings in Lam Research Co. (NASDAQ:LRCX) by 797.5% in the 4th quarter, Holdings Channel reports. The firm owned 155,044 shares of the semiconductor company’s stock after acquiring an additional 137,768 shares during the period. Fifth Third Bancorp’s holdings in Lam Research were worth $11,199,000 as of its most recent SEC filing.

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

Lam Research Price Performance

NASDAQ:LRCX opened at $79.68 on Friday. The business’s 50-day moving average is $75.43 and its 200 day moving average is $80.07. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The company has a market capitalization of $102.52 billion, a P/E ratio of 25.75, a P/E/G ratio of 1.53 and a beta of 1.45. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping 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 firm had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same period in the previous year, the firm posted $6.85 EPS. The business’s quarterly revenue was up 19.7% on a year-over-year basis. On average, equities research analysts forecast that Lam Research Co. will post 3.51 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.15%. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

Analyst Upgrades and Downgrades

LRCX has been the topic of several research analyst reports. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. BNP Paribas raised Lam Research to a “hold” rating in a report on Thursday, October 24th. Morgan Stanley boosted their price target on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Barclays lowered their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Finally, Mizuho cut their target price on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and an average target price of $95.77.

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.