Northwest & Ethical Investments L.P. Grows Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Northwest & Ethical Investments L.P. grew its holdings in Lam Research Co. (NASDAQ:LRCX) by 872.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,670 shares of the semiconductor company’s stock after acquiring an additional 42,768 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Lam Research were worth $3,443,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LRCX. Financial Perspectives Inc raised its position in Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 309 shares during the period. Fairway Wealth LLC raised its holdings in shares of Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 306 shares during the period. Atwood & Palmer Inc. acquired a new position in Lam Research during the 4th quarter worth approximately $27,000. Midwest Capital Advisors LLC purchased a new position in Lam Research in the 4th quarter worth approximately $27,000. Finally, Bell Investment Advisors Inc grew its position in Lam Research by 836.6% in the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 343 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of recent research reports. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $100.00 price objective on shares of Lam Research in a research report on Tuesday, February 18th. The Goldman Sachs Group lowered their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Oppenheimer started coverage on Lam Research in a report on Thursday. They issued an “outperform” rating and a $95.00 price target for the company. Finally, Barclays dropped their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $98.06.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by insiders.

Lam Research Stock Down 0.5 %

NASDAQ:LRCX opened at $77.55 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The stock has a 50 day moving average of $79.60 and a 200-day moving average of $77.33. The firm has a market capitalization of $99.55 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00.

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

Lam Research Dividend Announcement

The company 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 dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

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.