Toronto Dominion Bank raised its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 612.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 510,174 shares of the semiconductor company's stock after acquiring an additional 438,576 shares during the period. Toronto Dominion Bank's holdings in Lam Research were worth $36,849,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fairway Wealth LLC raised its stake in shares of Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after buying an additional 306 shares in the last quarter. Financial Perspectives Inc raised its stake in shares of Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after buying an additional 309 shares in the last quarter. West Paces Advisors Inc. purchased a new position in shares of Lam Research during the 4th quarter worth approximately $27,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Lam Research during the 4th quarter worth approximately $27,000. Finally, Midwest Capital Advisors LLC purchased a new position in shares of Lam Research during the 4th quarter worth approximately $27,000. 84.61% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on LRCX shares. Needham & Company LLC cut their target price 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. Barclays cut their target price on Lam Research from $75.00 to $70.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Oppenheimer cut their target price on Lam Research from $95.00 to $80.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Susquehanna upgraded Lam Research from a "neutral" rating to a "positive" rating and upped their price target for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Finally, Argus upgraded Lam Research to a "strong-buy" rating in a report on Friday, April 25th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $91.56.
View Our Latest Analysis on Lam Research
Lam Research Price Performance
NASDAQ:LRCX traded down $3.84 during trading hours on Friday, reaching $80.32. 19,188,650 shares of the company traded hands, compared to its average volume of 12,266,789. The firm's 50-day moving average is $73.45 and its 200-day moving average is $75.94. The stock has a market cap of $102.74 billion, a P/E ratio of 24.40, a P/E/G ratio of 1.47 and a beta of 1.64. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a 1-year low of $56.32 and a 1-year high of $113.00.
Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the prior year, the company posted $7.79 EPS. The business's revenue for the quarter was up 24.4% compared to the same quarter last year. Equities research analysts expect that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.
Lam Research Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's dividend payout ratio is presently 25.63%.
About Lam Research
(
Free Report)
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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