Lam Research Co. (NASDAQ:LRCX) Stake Boosted by First Commonwealth Financial Corp PA

First Commonwealth Financial Corp PA increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 969.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,133 shares of the semiconductor company's stock after acquiring an additional 11,905 shares during the quarter. First Commonwealth Financial Corp PA's holdings in Lam Research were worth $949,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Fairway Wealth LLC increased its position in shares of Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 306 shares during the last quarter. Financial Perspectives Inc boosted its position in shares of Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 309 shares during the period. Atwood & Palmer Inc. acquired a new stake in Lam Research in the 4th quarter valued at approximately $27,000. Midwest Capital Advisors LLC purchased a new stake in Lam Research in the fourth quarter valued at approximately $27,000. Finally, Bell Investment Advisors Inc lifted its stake in Lam Research by 836.6% during the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 343 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Price Performance

Shares of NASDAQ:LRCX traded down $1.38 on Friday, hitting $63.76. The company had a trading volume of 13,845,188 shares, compared to its average volume of 12,145,383. The company has a market cap of $81.85 billion, a PE ratio of 19.37, a PEG ratio of 1.47 and a beta of 1.52. The business has a 50 day moving average of $74.79 and a 200 day moving average of $75.93. Lam Research Co. has a 52-week low of $56.32 and a 52-week high of $113.00. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, equities 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 disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research's dividend payout ratio is currently 27.96%.

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the sale, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.29% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on LRCX shares. The Goldman Sachs Group cut their price objective on Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Wells Fargo & Company increased their price objective on shares of Lam Research from $82.00 to $85.00 and gave the company an "equal weight" rating in a research report on Thursday, January 30th. UBS Group dropped 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 note on Monday, April 14th. Oppenheimer reduced their price objective on shares of Lam Research from $95.00 to $80.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Finally, Bank of America cut their target price on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $93.87.

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.