iA Global Asset Management Inc. Has $10.61 Million Stock Position in Lam Research Corporation (NASDAQ:LRCX)

Key Points

• iA Global Asset Management Inc. reduced its stake in Lam Research Corporation by 20% during the first quarter, holding 145,884 shares valued at approximately $10.61 million.
• Several hedge funds have newly acquired positions in Lam Research, indicating strong institutional interest, with 84.61% of the stock owned by institutional investors.
• Analysts have generally maintained a positive outlook on Lam Research, with a range of price target increases, resulting in an average target price of $107.09 and an overall rating of "Moderate Buy."

iA Global Asset Management Inc. lowered its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 20.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 145,884 shares of the semiconductor company's stock after selling 36,436 shares during the quarter. iA Global Asset Management Inc.'s holdings in Lam Research were worth $10,606,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Lam Research in the first quarter valued at approximately $26,000. West Paces Advisors Inc. acquired a new stake in shares of Lam Research in the fourth quarter valued at approximately $27,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Lam Research in the fourth quarter valued at approximately $27,000. Park Square Financial Group LLC acquired a new position in Lam Research in the 4th quarter valued at about $31,000. Finally, Putney Financial Group LLC acquired a new position in Lam Research in the 4th quarter valued at about $36,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LRCX has been the topic of a number of research reports. TD Cowen upped their price target on shares of Lam Research from $100.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Raymond James Financial lifted their price objective on shares of Lam Research from $90.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Mizuho lifted their price objective on shares of Lam Research from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Friday. Evercore ISI lifted their price objective on shares of Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Stifel Nicolaus lifted their price objective on shares of Lam Research from $92.00 to $110.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $107.09.

Lam Research Trading Up 2.1%

Shares of LRCX stock opened at $98.41 on Tuesday. The stock has a market cap of $125.88 billion, a price-to-earnings ratio of 23.66, a PEG ratio of 1.29 and a beta of 1.65. The stock has a 50-day moving average of $94.31 and a 200-day moving average of $82.57. The company has a current ratio of 2.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.38. Lam Research Corporation has a 1-year low of $56.32 and a 1-year high of $102.59.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.12. The company had revenue of $5.17 billion during the quarter, compared to analysts' expectations of $4.99 billion. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The business's quarterly revenue was up 33.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. On average, equities research analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's payout ratio is currently 22.12%.

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.

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