National Bank of Canada FI Buys 1,977,509 Shares of Lam Research Co. (NASDAQ:LRCX)

National Bank of Canada FI grew its stake in Lam Research Co. (NASDAQ:LRCX) by 1,102.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,156,852 shares of the semiconductor company’s stock after purchasing an additional 1,977,509 shares during the quarter. National Bank of Canada FI’s holdings in Lam Research were worth $155,790,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. HighPoint Advisor Group LLC boosted its holdings in Lam Research by 9.4% during the 4th quarter. HighPoint Advisor Group LLC now owns 20,944 shares of the semiconductor company’s stock worth $1,513,000 after acquiring an additional 1,802 shares during the last quarter. Meridian Investment Counsel Inc. boosted its holdings in Lam Research by 900.0% during the fourth quarter. Meridian Investment Counsel Inc. now owns 6,720 shares of the semiconductor company’s stock worth $485,000 after purchasing an additional 6,048 shares during the last quarter. Franklin Resources Inc. bought a new stake in Lam Research in the 4th quarter worth about $452,827,000. B. Metzler seel. Sohn & Co. AG increased its stake in Lam Research by 877.1% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 136,769 shares of the semiconductor company’s stock valued at $9,878,000 after buying an additional 122,771 shares during the last quarter. Finally, Rodgers Brothers Inc. lifted its position in shares of Lam Research by 895.3% during the 4th quarter. Rodgers Brothers Inc. now owns 52,400 shares of the semiconductor company’s stock worth $3,785,000 after buying an additional 47,135 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Activity

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the sale, the senior vice president now owns 179,084 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

Lam Research Price Performance

Shares of Lam Research stock opened at $72.70 on Tuesday. The business’s 50-day moving average price is $79.35 and its 200-day moving average price is $77.31. The firm has a market capitalization of $93.32 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. 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 (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping 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%. Sell-side analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.27%. Lam Research’s payout ratio is 27.96%.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Mizuho upped their price objective on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. The Goldman Sachs Group decreased their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Finally, KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a report on Friday, January 17th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.59.

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.