Commerce Bank Has $5.38 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

Commerce Bank boosted its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 859.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,490 shares of the semiconductor company's stock after acquiring an additional 66,729 shares during the quarter. Commerce Bank's holdings in Lam Research were worth $5,380,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. West Oak Capital LLC raised its holdings in Lam Research by 50.9% during the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company's stock worth $29,000 after acquiring an additional 135 shares in the last quarter. Diversified Trust Co raised its stake in shares of Lam Research by 8.3% during the 4th quarter. Diversified Trust Co now owns 3,741 shares of the semiconductor company's stock worth $270,000 after purchasing an additional 286 shares in the last quarter. McLean Asset Management Corp boosted its holdings in shares of Lam Research by 6.3% in the 4th quarter. McLean Asset Management Corp now owns 5,122 shares of the semiconductor company's stock valued at $370,000 after buying an additional 302 shares during the last quarter. Fairway Wealth LLC grew its stake 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 buying an additional 306 shares in the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC increased its holdings in Lam Research by 159.1% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company's stock worth $36,000 after buying an additional 307 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Price Performance

Shares of NASDAQ LRCX traded up $3.19 during midday trading on Wednesday, reaching $66.67. 18,119,704 shares of the company were exchanged, compared to its average volume of 12,147,435. The stock's 50-day moving average price is $74.01 and its 200-day moving average price is $75.68. The stock has a market cap of $85.58 billion, a P/E ratio of 20.25, a PEG ratio of 1.47 and a beta of 1.52. 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 Co. has a one year low of $56.32 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. On average, sell-side analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.38%. Lam Research's dividend payout ratio (DPR) is currently 27.96%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LRCX. Wells Fargo & Company upped their target price on shares of Lam Research from $82.00 to $85.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. Barclays cut their price objective on Lam Research from $75.00 to $70.00 and set an "equal weight" rating for the company in a research report on Tuesday. Cantor Fitzgerald reissued an "overweight" rating and set a $100.00 target price on shares of Lam Research in a report on Tuesday, February 18th. Stifel Nicolaus cut their price target on Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 price objective on shares of Lam Research in a research report on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Lam Research presently has an average rating of "Moderate Buy" and a consensus price target of $93.63.

Insider Buying and Selling at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now owns 179,084 shares of the company's stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.29% of the company's stock.

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.