Lam Research Co. (NASDAQ:LRCX) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 16.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,579 shares of the semiconductor company’s stock after selling 8,770 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Lam Research were worth $35,564,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LRCX. Cetera Investment Advisers lifted its stake in Lam Research by 117.4% during the first quarter. Cetera Investment Advisers now owns 27,797 shares of the semiconductor company’s stock valued at $27,007,000 after purchasing an additional 15,010 shares during the last quarter. Cetera Advisors LLC lifted its stake in Lam Research by 181.2% during the first quarter. Cetera Advisors LLC now owns 9,584 shares of the semiconductor company’s stock valued at $9,312,000 after purchasing an additional 6,176 shares during the last quarter. Cambridge Trust Co. lifted its stake in Lam Research by 34.2% during the first quarter. Cambridge Trust Co. now owns 200 shares of the semiconductor company’s stock valued at $194,000 after purchasing an additional 51 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Lam Research by 15.0% during the first quarter. EverSource Wealth Advisors LLC now owns 353 shares of the semiconductor company’s stock valued at $316,000 after purchasing an additional 46 shares during the last quarter. Finally, Bright Futures Wealth Management LLC. acquired a new stake in Lam Research during the first quarter valued at approximately $203,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Citigroup reduced their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research report on Monday, September 16th. Stifel Nicolaus restated a “buy” rating and issued a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. Wells Fargo & Company reduced their price target on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Finally, Mizuho reduced their price target on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.29.

Lam Research Price Performance

Shares of LRCX stock opened at $73.88 on Friday. Lam Research Co. has a 1 year low of $68.72 and a 1 year high of $113.00. The firm’s 50 day moving average is $76.52 and its 200-day moving average is $86.70. The firm has a market capitalization of $95.06 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 1.14 and a beta of 1.48. 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 (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) 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 company had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same period in the prior year, the business earned $6.85 earnings per share. Lam Research’s quarterly revenue was up 19.7% on a year-over-year basis. Sell-side analysts forecast that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.25%. Lam Research’s dividend payout ratio is currently 29.77%.

Insider Activity at Lam Research

In related 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 owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is currently owned by company insiders.

About Lam Research

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.