BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $35.56 Million Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its holdings in Lam Research Co. (NASDAQ:LRCX) by 16.8% in the 3rd quarter, Holdings Channel.com reports. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jennison Associates LLC raised its stake in Lam Research by 20.0% in the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after purchasing an additional 39,725 shares in the last quarter. Creative Planning raised its stake in Lam Research by 2.5% in the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after purchasing an additional 1,146 shares in the last quarter. Vest Financial LLC raised its stake in Lam Research by 68.7% in the 3rd quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock worth $29,372,000 after purchasing an additional 14,658 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Lam Research by 9.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company’s stock worth $278,165,000 after purchasing an additional 28,089 shares in the last quarter. Finally, Benson Investment Management Company Inc. acquired a new stake in Lam Research in the 3rd quarter worth about $5,182,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on LRCX. Sanford C. Bernstein decreased their target price on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a report on Friday. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Mizuho reduced their target price on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Citigroup reduced their target price on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. Finally, BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $97.29.

Lam Research Stock Up 3.2 %

Shares of NASDAQ LRCX opened at $73.88 on Friday. Lam Research Co. has a one year low of $68.72 and a one year high of $113.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The firm’s 50 day simple moving average is $76.52 and its two-hundred day simple moving average is $86.70. The stock has a market capitalization of $95.06 billion, a P/E ratio of 23.91, a PEG ratio of 1.14 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating 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 business had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same period last year, the business earned $6.85 earnings per share. The business’s quarterly revenue was up 19.7% on a year-over-year basis. As a group, analysts expect that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be given a dividend of $0.23 per share. 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, December 11th. Lam Research’s payout ratio is currently 29.77%.

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.