Zions Bancorporation N.A. Makes New Investment in Lam Research Co. (NASDAQ:LRCX)

Zions Bancorporation N.A. acquired a new stake in Lam Research Co. (NASDAQ:LRCX) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 156 shares of the semiconductor company’s stock, valued at approximately $28,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. We Are One Seven LLC purchased a new position in shares of Lam Research during the 4th quarter worth approximately $26,000. Berman Capital Advisors LLC purchased a new stake in Lam Research in the 4th quarter worth approximately $26,000. Global Retirement Partners LLC grew its stake in Lam Research by 119.4% in the 1st quarter. Global Retirement Partners LLC now owns 147 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 80 shares during the period. FTB Advisors Inc. grew its stake in Lam Research by 72.0% in the 4th quarter. FTB Advisors Inc. now owns 215 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 90 shares during the period. Finally, Strategy Asset Managers LLC purchased a new stake in Lam Research in the 1st quarter worth approximately $33,000. Institutional investors own 86.51% of the company’s stock.

Several analysts have commented on the stock. Deutsche Bank lifted their target price on shares of Lam Research from $180.00 to $195.00 and gave the stock a “hold” rating in a research note on Thursday, April 25th. Wells Fargo & Co assumed coverage on shares of Lam Research in a research note on Wednesday, June 19th. They issued a “market perform” rating for the company. Zacks Investment Research upgraded shares of Lam Research from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. Mizuho reiterated a “buy” rating and issued a $180.00 price target on shares of Lam Research in a report on Tuesday, April 16th. Finally, Cowen restated an “outperform” rating and set a $235.00 target price (up previously from $223.00) on shares of Lam Research in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $224.78.

In other news, Director Abhijit Y. Talwalkar sold 3,988 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $203.00, for a total value of $809,564.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Richard A. Gottscho sold 2,155 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $209.00, for a total transaction of $450,395.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,379 shares of company stock valued at $3,554,335. Insiders own 0.44% of the company’s stock.

Shares of LRCX traded up $1.71 during midday trading on Friday, hitting $187.84. The company had a trading volume of 1,424,343 shares, compared to its average volume of 2,269,369. The firm has a 50 day moving average price of $184.42. The stock has a market cap of $27.18 billion, a PE ratio of 10.51, a price-to-earnings-growth ratio of 1.05 and a beta of 1.63. Lam Research Co. has a 52 week low of $122.64 and a 52 week high of $209.50. The company has a current ratio of 3.37, a quick ratio of 2.79 and a debt-to-equity ratio of 0.71.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $3.70 earnings per share for the quarter, beating analysts’ consensus estimates of $3.38 by $0.32. Lam Research had a net margin of 25.64% and a return on equity of 46.66%. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the firm earned $4.79 EPS. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. On average, research analysts predict that Lam Research Co. will post 14.33 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Wednesday, June 12th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Tuesday, June 11th. Lam Research’s dividend payout ratio is presently 24.62%.

Lam Research Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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