Commerce Bank Acquires 66,729 Shares of Lam Research Co. (NASDAQ:LRCX)

Commerce Bank raised its holdings in Lam Research Co. (NASDAQ:LRCX) by 859.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 74,490 shares of the semiconductor company’s stock after purchasing an additional 66,729 shares during the period. Commerce Bank’s holdings in Lam Research were worth $5,380,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Parisi Gray Wealth Management raised its holdings 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 valued at $603,000 after acquiring an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY acquired a new stake in Lam Research during the fourth quarter worth about $815,000. Centerpoint Advisors LLC increased its holdings in Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock valued at $72,000 after buying an additional 900 shares during the period. Transform Wealth LLC bought a new stake in shares of Lam Research during the 4th quarter worth approximately $17,269,000. Finally, E. Ohman J or Asset Management AB acquired a new stake in shares of Lam Research during the 4th quarter worth approximately $4,258,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.29% of the stock is owned by insiders.

Lam Research Stock Performance

NASDAQ:LRCX opened at $63.76 on Friday. 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 twelve month low of $56.32 and a twelve month high of $113.00. The company has a fifty day moving average of $74.79 and a 200-day moving average of $75.93. The firm has a market capitalization of $81.85 billion, a P/E ratio of 19.37, a P/E/G ratio of 1.47 and a beta of 1.52.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating the consensus estimate 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, sell-side analysts anticipate that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th were paid 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 yield of 1.44%. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LRCX. Wells Fargo & Company lifted their price target on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 price target on shares of Lam Research in a research note on Tuesday, February 18th. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. UBS Group lowered their price target on shares of Lam Research from $95.00 to $90.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a research report on Friday, January 17th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.87.

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.