Alberta Investment Management Corp Sells 7,145 Shares of Lam Research Co. (NASDAQ:LRCX)

Alberta Investment Management Corp lessened its position in Lam Research Co. (NASDAQ:LRCX) by 41.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,000 shares of the semiconductor company’s stock after selling 7,145 shares during the quarter. Alberta Investment Management Corp’s holdings in Lam Research were worth $722,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp raised its holdings in Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after acquiring an additional 15,005,178 shares during the period. State Street Corp raised its holdings in Lam Research by 1.6% in the 3rd quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock worth $4,817,113,000 after acquiring an additional 94,086 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in Lam Research by 827.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock worth $228,285,000 after acquiring an additional 2,819,668 shares during the period. Geode Capital Management LLC raised its holdings in Lam Research by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock worth $2,539,413,000 after acquiring an additional 64,053 shares during the period. Finally, Swedbank AB raised its holdings in Lam Research by 1,488.8% in the 4th quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock worth $221,674,000 after acquiring an additional 2,875,843 shares during the period. Institutional investors own 84.61% of the company’s stock.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the transaction, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on LRCX. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Lam Research in a report on Thursday, January 30th. Morgan Stanley raised their price target on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. 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. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 price target on shares of Lam Research in a research report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $98.22.

Lam Research Price Performance

NASDAQ:LRCX opened at $86.02 on Friday. The firm has a market cap of $110.42 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. Lam Research Co. has a 12 month low of $68.87 and a 12 month 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. The company’s 50-day moving average price is $78.46 and its two-hundred day moving average price is $78.04.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, equities analysts anticipate that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is presently 27.96%.

Lam Research Company 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.