Lam Research Corporation (NASDAQ:LRCX) Shares Sold by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp has reduced its stake in Lam Research Corporation by 33.3%, now owning approximately 1.57 million shares valued at $113.8 million.
• Institutional interest in Lam Research is high, with over 84.61% of the stock owned by hedge funds and various investors, showing a trend of increased stakes from firms like Huntington National Bank and Cerity Partners.
• Several analysts have upgraded their target prices for Lam Research, with KeyCorp raising it to $115.00 and UBS Group to $120.00, reflecting a consensus rating of "Moderate Buy" with an average target price of $102.05.

Mackenzie Financial Corp lowered its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 33.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,565,670 shares of the semiconductor company's stock after selling 781,866 shares during the quarter. Mackenzie Financial Corp owned 0.12% of Lam Research worth $113,824,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of LRCX. Smallwood Wealth Investment Management LLC acquired a new stake in Lam Research in the 1st quarter valued at about $26,000. West Paces Advisors Inc. acquired a new stake in Lam Research in the 4th quarter valued at about $27,000. Mpwm Advisory Solutions LLC acquired a new stake in Lam Research in the 4th quarter valued at about $27,000. Park Square Financial Group LLC acquired a new stake in Lam Research in the 4th quarter valued at about $31,000. Finally, Putney Financial Group LLC acquired a new stake in Lam Research in the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on shares of Lam Research and gave the company a "hold" rating in a research note on Thursday, April 24th. Stifel Nicolaus increased their price objective on shares of Lam Research from $92.00 to $110.00 and gave the company a "buy" rating in a research note on Tuesday. Wells Fargo & Company set a $98.00 price target on shares of Lam Research and gave the stock an "equal weight" rating in a research note on Thursday. B. Riley reiterated a "buy" rating and set a $115.00 price objective (up from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. Finally, Argus upgraded shares of Lam Research to a "strong-buy" rating in a report on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $106.27.

Lam Research Stock Up 0.8%

Shares of LRCX stock traded up $0.74 during mid-day trading on Friday, reaching $95.58. 8,108,751 shares of the company were exchanged, compared to its average volume of 11,964,974. 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 0.39, a quick ratio of 1.64 and a current ratio of 2.45. The company has a market capitalization of $122.26 billion, a P/E ratio of 22.98, a P/E/G ratio of 1.40 and a beta of 1.68. The business's 50 day simple moving average is $93.65 and its 200 day simple moving average is $82.23.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.21 by $0.12. Lam Research had a net margin of 29.07% and a return on equity of 59.69%. The business had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter last year, the company earned $1.03 earnings per share. The business's quarterly revenue was up 33.6% compared to the same quarter last year. Research analysts predict that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.0%. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

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.