Cibc World Markets Corp Buys 230,339 Shares of Lam Research Co. (NASDAQ:LRCX)

Cibc World Markets Corp lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1,119.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 250,917 shares of the semiconductor company’s stock after acquiring an additional 230,339 shares during the quarter. Cibc World Markets Corp’s holdings in Lam Research were worth $18,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Claro Advisors LLC boosted its stake in shares of Lam Research by 151.0% in the 3rd quarter. Claro Advisors LLC now owns 527 shares of the semiconductor company’s stock valued at $430,000 after purchasing an additional 317 shares during the last quarter. Glass Wealth Management Co LLC boosted its position in Lam Research by 9.2% during the third quarter. Glass Wealth Management Co LLC now owns 2,485 shares of the semiconductor company’s stock valued at $2,028,000 after acquiring an additional 210 shares during the last quarter. Strengthening Families & Communities LLC grew its holdings in Lam Research by 9.3% during the 3rd quarter. Strengthening Families & Communities LLC now owns 1,871 shares of the semiconductor company’s stock worth $1,527,000 after acquiring an additional 159 shares during the period. Joseph Group Capital Management raised its position in shares of Lam Research by 32.2% in the 3rd quarter. Joseph Group Capital Management now owns 4,315 shares of the semiconductor company’s stock worth $3,521,000 after acquiring an additional 1,051 shares in the last quarter. Finally, Aviance Capital Partners LLC lifted its stake in shares of Lam Research by 8.8% in the 3rd quarter. Aviance Capital Partners LLC now owns 10,711 shares of the semiconductor company’s stock valued at $8,741,000 after purchasing an additional 864 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Performance

NASDAQ LRCX opened at $78.31 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The company has a fifty day moving average price of $79.58 and a 200-day moving average price of $77.37. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The firm has a market cap of $100.52 billion, a price-to-earnings ratio of 23.79, a PEG ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, equities research analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.17%. Lam Research’s dividend payout ratio is currently 27.96%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on LRCX shares. Mizuho raised their target price on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Lam Research in a research note on Thursday, January 30th. Morgan Stanley increased their target price on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Barclays reduced their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Finally, The Goldman Sachs Group dropped their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $98.22.

Insider Buying and Selling at Lam Research

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 transaction, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.29% of the company’s stock.

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.