CNB Bank Lowers Stock Position in Lam Research Co. (NASDAQ:LRCX)

CNB Bank reduced its stake in Lam Research Co. (NASDAQ:LRCX) by 4.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 472 shares of the semiconductor company’s stock after selling 22 shares during the quarter. CNB Bank’s holdings in Lam Research were worth $281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in LRCX. Norges Bank purchased a new stake in Lam Research in the fourth quarter valued at approximately $728,936,000. Sands Capital Management LLC purchased a new position in shares of Lam Research during the fourth quarter worth approximately $658,961,000. FMR LLC raised its stake in shares of Lam Research by 12.1% during the fourth quarter. FMR LLC now owns 8,731,016 shares of the semiconductor company’s stock worth $4,123,397,000 after acquiring an additional 940,594 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Lam Research by 15.7% during the fourth quarter. JPMorgan Chase & Co. now owns 5,162,415 shares of the semiconductor company’s stock worth $2,438,054,000 after acquiring an additional 702,353 shares in the last quarter. Finally, Cibc World Markets Corp raised its stake in shares of Lam Research by 2,003.3% during the fourth quarter. Cibc World Markets Corp now owns 539,409 shares of the semiconductor company’s stock worth $254,747,000 after acquiring an additional 513,763 shares in the last quarter. 84.03% of the stock is currently owned by institutional investors and hedge funds.

In other Lam Research news, CEO Timothy Archer sold 4,465 shares of the business’s stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $621.41, for a total value of $2,774,595.65. Also, EVP Patrick J. Lord sold 4,166 shares of the business’s stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $576.56, for a total value of $2,401,948.96. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

LRCX has been the topic of several research reports. Cowen lifted their price target on shares of Lam Research from $585.00 to $700.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 20th. Zacks Investment Research raised shares of Lam Research from a “hold” rating to a “buy” rating and set a $508.00 price target on the stock in a research note on Tuesday, February 2nd. Citigroup raised their target price on shares of Lam Research from $660.00 to $750.00 in a report on Monday, April 19th. Wells Fargo & Company raised their target price on shares of Lam Research from $645.00 to $690.00 and gave the stock an “equal weight” rating in a report on Thursday, April 22nd. Finally, Royal Bank of Canada raised their target price on shares of Lam Research from $495.00 to $570.00 and gave the stock an “outperform” rating in a report on Thursday, January 28th. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $663.41.

LRCX opened at $592.43 on Wednesday. The stock has a 50-day moving average price of $622.54 and a 200-day moving average price of $526.87. The company has a debt-to-equity ratio of 0.92, a current ratio of 3.31 and a quick ratio of 2.68. The firm has a market cap of $84.49 billion, a PE ratio of 33.60, a P/E/G ratio of 1.42 and a beta of 1.33. Lam Research Co. has a 1 year low of $240.34 and a 1 year high of $669.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Tuesday, April 20th. The semiconductor company reported $7.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.56 by $0.93. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a return on equity of 55.82% and a net margin of 23.60%. Lam Research’s quarterly revenue was up 53.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.98 EPS. As a group, sell-side analysts anticipate that Lam Research Co. will post 22.41 EPS for the current year.

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 products for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.

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

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