Mackenzie Financial Corp Purchases 2,120,197 Shares of Lam Research Co. (NASDAQ:LRCX)

Mackenzie Financial Corp boosted its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 932.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,347,536 shares of the semiconductor company's stock after acquiring an additional 2,120,197 shares during the quarter. Mackenzie Financial Corp owned 0.18% of Lam Research worth $169,563,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Financial Perspectives Inc lifted its position in Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 309 shares in the last quarter. Fairway Wealth LLC increased its stake in Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after buying an additional 306 shares during the last quarter. Midwest Capital Advisors LLC acquired a new stake in Lam Research in the 4th quarter valued at $27,000. West Paces Advisors Inc. acquired a new stake in Lam Research in the 4th quarter valued at $27,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Lam Research in the 4th quarter valued at $27,000. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Performance

NASDAQ LRCX traded down $4.29 during trading on Friday, reaching $79.87. The company's stock had a trading volume of 5,178,708 shares, compared to its average volume of 12,219,829. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $102.17 billion, a price-to-earnings ratio of 24.20, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64. Lam Research Co. has a 12 month low of $56.32 and a 12 month high of $113.00. The firm has a 50 day moving average price of $73.40 and a 200 day moving average price of $75.89.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The firm had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The business's revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $7.79 EPS. As a group, equities analysts anticipate that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Wednesday, June 18th. Lam Research's dividend payout ratio is currently 25.63%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LRCX shares. Evercore ISI lifted their price target on shares of Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Stifel Nicolaus lowered their price target on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. TD Securities lowered their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Sanford C. Bernstein upgraded shares of Lam Research from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $90.00 price objective on shares of Lam Research in a research note on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $91.56.

About Lam Research

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.