Northwest & Ethical Investments L.P. Decreases Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Northwest & Ethical Investments L.P. decreased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 7.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,902 shares of the semiconductor company’s stock after selling 422 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Lam Research were worth $4,000,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Van ECK Associates Corp raised its stake in Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after purchasing an additional 15,005,178 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Lam Research by 0.6% in the third quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company’s stock valued at $1,527,273,000 after acquiring an additional 11,093 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Lam Research by 7.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock valued at $1,335,522,000 after acquiring an additional 89,470 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Lam Research by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 822,599 shares of the semiconductor company’s stock valued at $671,307,000 after acquiring an additional 10,868 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Lam Research by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock valued at $654,009,000 after acquiring an additional 25,362 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on LRCX shares. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Mizuho reduced their target price on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. BNP Paribas raised shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. TD Cowen raised their price target on shares of Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, 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. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $97.97.

Lam Research Stock Down 1.5 %

NASDAQ:LRCX opened at $71.57 on Friday. Lam Research Co. has a fifty-two week low of $68.72 and a fifty-two week high of $113.00. The stock has a market capitalization of $92.09 billion, a P/E ratio of 23.13, a P/E/G ratio of 1.14 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The company’s 50-day simple moving average is $76.62 and its 200-day simple moving average is $86.79.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same period last year, the business earned $6.85 EPS. The company’s revenue was up 19.7% compared to the same quarter last year. On average, equities analysts anticipate that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.74%.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This trade represents a 13.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.29% of the stock is currently owned by insiders.

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.