AGF Management Ltd. Has $126.89 Million Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

AGF Management Ltd. raised its stake in Lam Research Co. (NASDAQ:LRCX) by 823.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,756,675 shares of the semiconductor company’s stock after purchasing an additional 1,566,403 shares during the quarter. AGF Management Ltd. owned 0.14% of Lam Research worth $126,885,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its position in shares of Lam Research by 892.7% in the fourth quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock valued at $1,341,902,000 after acquiring an additional 16,706,708 shares during the period. Amundi increased its stake in shares of Lam Research by 7,601.9% in the fourth quarter. Amundi now owns 12,945,172 shares of the semiconductor company’s stock worth $990,464,000 after buying an additional 12,777,094 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Lam Research by 860.4% in the fourth quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company’s stock worth $851,361,000 after buying an additional 10,559,508 shares during the period. Charles Schwab Investment Management Inc. increased its position in Lam Research by 931.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,482,429 shares of the semiconductor company’s stock valued at $612,686,000 after purchasing an additional 7,659,830 shares during the period. Finally, National Pension Service purchased a new position in Lam Research during the 4th quarter valued at $219,200,000. 84.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LRCX has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of Lam Research in a research note on Thursday, January 30th. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and increased their price objective for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Mizuho lifted their target price on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, Barclays decreased their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

Lam Research Trading Down 6.6 %

NASDAQ:LRCX opened at $73.81 on Tuesday. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The firm has a market cap of $94.75 billion, a price-to-earnings ratio of 22.42, a P/E/G ratio of 1.47 and a beta of 1.53. 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 is $79.33 and its 200-day moving average is $77.59.

Lam Research (NASDAQ:LRCX) last issued its earnings results 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%. Equities analysts anticipate that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors 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 yield of 1.25%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research 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 directly 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. Company insiders own 0.29% of the company’s stock.

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.