Lam Research Corporation (NASDAQ:LRCX) Shares Sold by Scotia Capital Inc.

Scotia Capital Inc. trimmed its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 30.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,646 shares of the semiconductor company's stock after selling 9,005 shares during the period. Scotia Capital Inc.'s holdings in Lam Research were worth $1,501,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its stake in shares of Lam Research by 950.5% during the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock worth $2,495,128,000 after acquiring an additional 31,255,726 shares in the last quarter. Northern Trust Corp boosted its position in shares of Lam Research by 1,067.0% in the 4th quarter. Northern Trust Corp now owns 15,869,244 shares of the semiconductor company's stock valued at $1,146,235,000 after purchasing an additional 14,509,407 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Lam Research by 6,383.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,574,691 shares of the semiconductor company's stock valued at $980,500,000 after purchasing an additional 13,365,317 shares during the period. Janus Henderson Group PLC purchased a new position in Lam Research in the 4th quarter worth about $792,161,000. Finally, Pictet Asset Management Holding SA raised its holdings in Lam Research by 2.9% during the 1st quarter. Pictet Asset Management Holding SA now owns 8,096,940 shares of the semiconductor company's stock worth $588,642,000 after buying an additional 224,391 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Wall Street Analyst Weigh In

LRCX has been the subject of several recent analyst reports. Needham & Company LLC raised their target price on shares of Lam Research from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. B. Riley reiterated a "buy" rating and set a $115.00 price objective (up from $95.00) on shares of Lam Research in a research report on Wednesday, June 18th. Cantor Fitzgerald restated an "overweight" rating and issued a $115.00 target price (up previously from $90.00) on shares of Lam Research in a report on Tuesday, June 24th. Citigroup raised their target price on Lam Research from $108.00 to $113.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Mizuho upped their price target on Lam Research from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $107.09.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $95.94 on Thursday. The stock has a market capitalization of $122.72 billion, a P/E ratio of 23.06, a P/E/G ratio of 1.27 and a beta of 1.65. The business has a 50-day moving average of $94.80 and a two-hundred day moving average of $82.76. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $102.59. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.21 and a quick ratio of 1.55.

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

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were paid a dividend of $0.23 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 1.0%. Lam Research's dividend payout ratio is presently 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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