Caisse DE Depot ET Placement DU Quebec Buys 46,394 Shares of Lam Research Co. (NASDAQ:LRCX)

Caisse DE Depot ET Placement DU Quebec increased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 89.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 98,045 shares of the semiconductor company’s stock after acquiring an additional 46,394 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Lam Research were worth $80,013,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of LRCX. Circle Wealth Management LLC lifted its holdings in shares of Lam Research by 60.7% during the 3rd quarter. Circle Wealth Management LLC now owns 2,012 shares of the semiconductor company’s stock worth $1,642,000 after acquiring an additional 760 shares during the period. White Knight Strategic Wealth Advisors LLC lifted its stake in Lam Research by 18.7% during the third quarter. White Knight Strategic Wealth Advisors LLC now owns 1,950 shares of the semiconductor company’s stock worth $1,591,000 after purchasing an additional 307 shares during the last quarter. Fred Alger Management LLC boosted its holdings in shares of Lam Research by 23.1% in the 3rd quarter. Fred Alger Management LLC now owns 7,895 shares of the semiconductor company’s stock valued at $6,443,000 after purchasing an additional 1,482 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of Lam Research by 2.3% in the 3rd quarter. Captrust Financial Advisors now owns 113,198 shares of the semiconductor company’s stock valued at $92,379,000 after purchasing an additional 2,539 shares during the last quarter. Finally, Icon Wealth Advisors LLC lifted its position in shares of Lam Research by 11.0% during the 3rd quarter. Icon Wealth Advisors LLC now owns 2,217 shares of the semiconductor company’s stock worth $1,809,000 after buying an additional 220 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on LRCX shares. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. BNP Paribas raised shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Finally, Mizuho cut their target price on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $97.29.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This trade represents a 13.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.29% of the company’s stock.

Lam Research Trading Up 3.2 %

NASDAQ:LRCX opened at $73.88 on Friday. The stock has a market capitalization of $95.06 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48. The firm’s 50 day moving average is $76.52 and its 200 day moving average is $86.67. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. Lam Research Co. has a 12 month low of $68.72 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same quarter last year, the business earned $6.85 earnings per share. The company’s quarterly revenue was up 19.7% on a year-over-year basis. Sell-side analysts expect that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s payout ratio is currently 29.74%.

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.