UMB Bank n.a. Makes New Investment in Lam Research Co. (NASDAQ:LRCX)

UMB Bank n.a. purchased a new position in Lam Research Co. (NASDAQ:LRCX) in the 1st quarter, HoldingsChannel reports. The fund purchased 4,916 shares of the semiconductor company’s stock, valued at approximately $357,000.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Lam Research by 892.7% during the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock worth $8,724,498,000 after purchasing an additional 108,619,564 shares in the last quarter. FMR LLC lifted its position in Lam Research by 1,032.6% in the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock valued at $2,891,453,000 after acquiring an additional 36,496,689 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Lam Research by 950.5% in the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock valued at $2,495,128,000 after buying an additional 31,255,726 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Lam Research by 907.1% in the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock valued at $2,265,610,000 after buying an additional 28,307,499 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Lam Research in the fourth quarter valued at about $1,661,672,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Performance

NASDAQ:LRCX opened at $91.00 on Wednesday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The company has a market cap of $116.40 billion, a P/E ratio of 27.64, a P/E/G ratio of 1.47 and a beta of 1.65. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The firm’s 50 day moving average is $75.32 and its two-hundred day moving average is $76.63.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The business had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter last year, the firm posted $7.79 EPS. The business’s revenue for the quarter was up 24.4% compared to the same quarter last year. Analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research’s dividend payout ratio is presently 25.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. TD Securities reduced their target price on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Barclays dropped their price target on shares of Lam Research from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and increased their target price for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Stifel Nicolaus dropped their target price on shares of Lam Research from $100.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price target on shares of Lam Research in a research report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.87.

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.