Caisse DE Depot ET Placement DU Quebec Buys 23,015 Shares of Lam Research Co. (NASDAQ:LRCX)

Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 23.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 121,060 shares of the semiconductor company's stock after purchasing an additional 23,015 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in Lam Research were worth $8,744,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Synovus Financial Corp lifted its position in shares of Lam Research by 22.4% in the third quarter. Synovus Financial Corp now owns 3,071 shares of the semiconductor company's stock valued at $2,508,000 after buying an additional 561 shares during the last quarter. Versant Capital Management Inc bought a new position in Lam Research in the 4th quarter valued at about $159,000. GAMMA Investing LLC boosted its holdings in shares of Lam Research by 1,139.5% during the fourth quarter. GAMMA Investing LLC now owns 24,195 shares of the semiconductor company's stock worth $1,748,000 after acquiring an additional 22,243 shares during the period. Modus Advisors LLC acquired a new position in shares of Lam Research in the fourth quarter valued at approximately $59,000. Finally, Everence Capital Management Inc. lifted its holdings in Lam Research by 581.1% during the 4th quarter. Everence Capital Management Inc. now owns 27,740 shares of the semiconductor company's stock worth $2,004,000 after purchasing an additional 23,667 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. 0.29% of the stock is owned by insiders.

Lam Research Stock Performance

LRCX traded up $2.08 during midday trading on Wednesday, reaching $75.24. The company had a trading volume of 9,984,196 shares, compared to its average volume of 12,142,449. Lam Research Co. has a 12-month low of $56.32 and a 12-month high of $113.00. The business has a 50-day moving average price of $71.62 and a two-hundred day moving average price of $75.16. The stock has a market cap of $96.24 billion, a PE ratio of 22.86, a P/E/G ratio of 1.47 and a beta of 1.64. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly 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 return on equity of 51.86% and a net margin of 26.49%. The firm had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. During the same quarter in the prior year, the firm earned $7.79 EPS. The business's revenue for the quarter was up 24.4% compared to the same quarter last year. On average, sell-side analysts expect that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LRCX. Argus raised Lam Research to a "strong-buy" rating in a report on Friday, April 25th. TD Securities dropped their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Oppenheimer decreased their price target on Lam Research from $95.00 to $80.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. UBS Group reduced their price objective on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Jefferies Financial Group upped their price target on shares of Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $91.56.

Lam Research Company 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.