TD Asset Management Inc Acquires 121,864 Shares of Lam Research Corporation (NASDAQ:LRCX)

Key Points

• TD Asset Management Inc increased its holdings in Lam Research Corporation by 4.7% during the first quarter, bringing its total ownership to approximately 2.7 million shares valued at about $196.57 million.
• Several large investors significantly boosted their positions in Lam Research in the fourth quarter, with FMR LLC increasing its stake by over 1,000% to nearly 40 million shares.
• Analysts have mixed ratings on the stock, with a consensus of "Moderate Buy" and an average target price of $100.57 following various upgrades and downgrades.

TD Asset Management Inc boosted its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 4.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,703,776 shares of the semiconductor company's stock after purchasing an additional 121,864 shares during the period. TD Asset Management Inc owned about 0.21% of Lam Research worth $196,565,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. HB Wealth Management LLC lifted its stake in Lam Research by 9.4% during the first quarter. HB Wealth Management LLC now owns 113,222 shares of the semiconductor company's stock worth $8,231,000 after purchasing an additional 9,717 shares during the period. Applied Finance Capital Management LLC lifted its stake in Lam Research by 15.1% during the first quarter. Applied Finance Capital Management LLC now owns 20,733 shares of the semiconductor company's stock worth $1,507,000 after purchasing an additional 2,713 shares during the period. Angeles Wealth Management LLC lifted its stake in Lam Research by 3.5% during the first quarter. Angeles Wealth Management LLC now owns 6,727 shares of the semiconductor company's stock worth $489,000 after purchasing an additional 227 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its stake in Lam Research by 4.6% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 696,986 shares of the semiconductor company's stock worth $50,671,000 after purchasing an additional 30,916 shares during the period. Finally, Phoenix Financial Ltd. raised its stake in shares of Lam Research by 1,387.8% in the first quarter. Phoenix Financial Ltd. now owns 251,477 shares of the semiconductor company's stock valued at $18,333,000 after acquiring an additional 234,574 shares during the last quarter. Institutional investors own 84.61% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LRCX. The Goldman Sachs Group began coverage on shares of Lam Research in a research note on Thursday, July 10th. They issued a "buy" rating and a $115.00 target price for the company. Needham & Company LLC cut their target price on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. UBS Group lifted their target price on shares of Lam Research from $95.00 to $120.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Argus upgraded shares of Lam Research to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Citigroup reiterated a "buy" rating and issued a $108.00 target price (up previously from $87.00) on shares of Lam Research in a research note on Monday, July 7th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $102.05.

Lam Research Stock Performance

Lam Research stock traded up $0.34 during trading hours on Wednesday, hitting $99.28. The company had a trading volume of 3,795,089 shares, compared to its average volume of 11,822,511. The firm has a market cap of $126.99 billion, a PE ratio of 27.69, a PEG ratio of 1.39 and a beta of 1.68. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. Lam Research Corporation has a one year low of $56.32 and a one year high of $102.59. The firm has a 50-day moving average of $93.08 and a 200 day moving average of $81.97.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were given 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 0.93%. Lam Research's dividend payout ratio is currently 25.63%.

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.