Lam Research Co. (NASDAQ:LRCX) Shares Bought by Toronto Dominion Bank

Toronto Dominion Bank boosted its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 612.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 510,174 shares of the semiconductor company's stock after buying an additional 438,576 shares during the period. Toronto Dominion Bank's holdings in Lam Research were worth $36,849,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LRCX. Vanguard Group Inc. grew its position in Lam Research by 892.7% in the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock valued at $8,724,498,000 after acquiring an additional 108,619,564 shares in the last quarter. FMR LLC grew its holdings in Lam Research by 1,032.6% during the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock valued at $2,891,453,000 after purchasing an additional 36,496,689 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Lam Research by 950.5% during the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock valued at $2,495,128,000 after purchasing an additional 31,255,726 shares in the last quarter. Geode Capital Management LLC grew its holdings in Lam Research by 907.1% during the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock valued at $2,265,610,000 after purchasing an additional 28,307,499 shares in the last quarter. Finally, Norges Bank purchased a new stake in Lam Research during the 4th quarter worth $1,661,672,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LRCX. Sanford C. Bernstein upgraded Lam Research from a "market perform" rating to an "outperform" rating and raised their target price for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Needham & Company LLC lowered their price objective on Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Evercore ISI upped their target price on Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Mizuho raised their price target on shares of Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Finally, B. Riley restated a "buy" rating on shares of Lam Research in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $91.56.

Lam Research Stock Performance

NASDAQ LRCX traded down $3.37 during trading hours on Friday, hitting $80.79. The company had a trading volume of 16,895,682 shares, compared to its average volume of 12,273,252. The firm has a market cap of $103.34 billion, a P/E ratio of 24.54, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64. The business has a fifty day simple moving average of $73.40 and a 200-day simple moving average of $75.89. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

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

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.14%. Lam Research's dividend payout ratio (DPR) is 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.