Mechanics Bank Trust Department Acquires 13,477 Shares of Lam Research Co. (NASDAQ:LRCX)

Mechanics Bank Trust Department boosted its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 848.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,065 shares of the semiconductor company's stock after acquiring an additional 13,477 shares during the period. Mechanics Bank Trust Department's holdings in Lam Research were worth $1,088,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. West Oak Capital LLC boosted its position in shares of Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company's stock valued at $29,000 after acquiring an additional 135 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC lifted its stake 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 purchasing an additional 307 shares during the period. Laurel Wealth Advisors LLC acquired a new stake in Lam Research during the fourth quarter valued at approximately $37,000. Eagle Bay Advisors LLC grew its stake in shares of Lam Research by 484.2% in the 4th quarter. Eagle Bay Advisors LLC now owns 555 shares of the semiconductor company's stock valued at $40,000 after purchasing an additional 460 shares during the period. Finally, Cranbrook Wealth Management LLC raised its holdings in shares of Lam Research by 900.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 550 shares of the semiconductor company's stock worth $40,000 after buying an additional 495 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Stifel Nicolaus reaffirmed a "buy" rating and issued a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. StockNews.com downgraded shares of Lam Research from a "buy" rating to a "hold" rating in a research note on Friday, October 11th. Sanford C. Bernstein dropped their target price 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. Needham & Company LLC restated a "buy" rating and issued a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Lam Research currently has a consensus rating of "Moderate Buy" and a consensus price target of $95.77.

Lam Research Trading Up 1.4 %

Shares of Lam Research stock traded up $1.08 during trading on Monday, hitting $80.30. 10,347,143 shares of the company were exchanged, compared to its average volume of 9,876,011. The firm has a market capitalization of $103.32 billion, a P/E ratio of 25.95, a price-to-earnings-growth ratio of 1.37 and a beta of 1.45. The firm's fifty day moving average price is $74.73 and its 200 day moving average price is $80.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its 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. The firm had revenue of $4.17 billion during the quarter, compared to analysts' expectations of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company's revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the firm earned $6.85 earnings per share. As a group, sell-side analysts expect that Lam Research Co. will post 3.51 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were issued 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 dividend yield of 1.15%. Lam Research's payout ratio is 29.74%.

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.