National Bank of Canada FI Has $139.12 Million Stock Position in Lam Research Corporation (NASDAQ:LRCX)

Key Points

• National Bank of Canada FI has reduced its stake in Lam Research Corporation by 11.3%, owning roughly 1.9 million shares valued at approximately $139.12 million.
• A consensus rating of "Moderate Buy" has been established for Lam Research, with an average price target of $107.09 among analysts.
• Lam Research recently reported quarterly earnings of $1.33 per share, exceeding expectations, with a significant 33.6% year-over-year increase in revenue to $5.17 billion.

National Bank of Canada FI cut its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 11.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,913,646 shares of the semiconductor company's stock after selling 243,206 shares during the period. National Bank of Canada FI owned 0.15% of Lam Research worth $139,122,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC bought a new stake in shares of Lam Research during the 1st quarter valued at $26,000. West Paces Advisors Inc. acquired a new position in Lam Research in the fourth quarter valued at about $27,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Lam Research during the 4th quarter worth about $27,000. Park Square Financial Group LLC acquired a new position in shares of Lam Research during the 4th quarter worth about $31,000. Finally, Putney Financial Group LLC bought a new stake in shares of 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.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. TD Cowen boosted their price objective on shares of Lam Research from $100.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Evercore ISI boosted their price target on shares of Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Wells Fargo & Company set a $98.00 price objective on Lam Research and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. B. Riley reiterated a "buy" rating and set a $115.00 target price (up from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. Finally, Citigroup increased their price target on Lam Research from $108.00 to $113.00 and gave the stock a "buy" rating in a 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $107.09.

Lam Research Stock Up 3.3%

Lam Research stock opened at $99.15 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.21 and a quick ratio of 1.55. The company's 50-day moving average is $95.10 and its 200-day moving average is $82.89. The firm has a market capitalization of $126.82 billion, a PE ratio of 23.83, a P/E/G ratio of 1.24 and a beta of 1.65. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $102.59.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data 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. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. The company's revenue was up 33.6% on a year-over-year basis. Sell-side analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

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

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.

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