Toronto Dominion Bank Has $36.85 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

Toronto Dominion Bank increased its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 612.6% in the 4th quarter, according to its most recent 13F filing 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 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Systematic Financial Management LP grew its holdings in shares of Lam Research by 900.0% during the fourth quarter. Systematic Financial Management LP now owns 9,300 shares of the semiconductor company's stock valued at $672,000 after purchasing an additional 8,370 shares during the last quarter. Snowden Capital Advisors LLC boosted its position in Lam Research by 1,244.2% during the 4th quarter. Snowden Capital Advisors LLC now owns 15,593 shares of the semiconductor company's stock valued at $1,130,000 after purchasing an additional 14,433 shares during the period. Skye Global Management LP bought a new position in Lam Research during the 4th quarter worth $39,149,000. Security National Bank of Sioux City Iowa IA acquired a new stake in Lam Research in the fourth quarter worth $528,000. Finally, Security National Bank of SO Dak bought a new stake in Lam Research in the fourth quarter valued at $477,000. Institutional investors own 84.61% of the company's stock.

Lam Research Price Performance

Shares of NASDAQ LRCX traded down $0.23 during mid-day trading on Thursday, reaching $82.56. The company had a trading volume of 6,239,953 shares, compared to its average volume of 12,236,505. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 1-year low of $56.32 and a 1-year high of $113.00. The stock has a market cap of $105.60 billion, a PE ratio of 25.08, a P/E/G ratio of 1.47 and a beta of 1.64. The company has a 50-day moving average price of $72.76 and a two-hundred day moving average price of $75.64.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The business 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%. The firm's revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $7.79 earnings per share. On average, equities analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed 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 yield of 1.11%. Lam Research's payout ratio is presently 25.63%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. TD Securities lowered their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Evercore ISI upped their target price on shares of Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. TD Cowen cut their price target on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. B. Riley reiterated a "buy" rating on shares of Lam Research in a research report on Thursday, April 24th. Finally, Susquehanna upgraded Lam Research from a "neutral" rating to a "positive" rating and raised their target price for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $91.56.

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.