Northwest & Ethical Investments L.P. Sells 422 Shares of Lam Research Co. (NASDAQ:LRCX)

Northwest & Ethical Investments L.P. lowered its stake in Lam Research Co. (NASDAQ:LRCX) by 7.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,902 shares of the semiconductor company’s stock after selling 422 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Lam Research were worth $4,000,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 13.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on LRCX. Citigroup reduced their target price on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research note on Monday, September 16th. Cantor Fitzgerald reissued a “neutral” rating and set a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. UBS Group reduced their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Deutsche Bank Aktiengesellschaft reduced their target price on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Finally, TD Cowen boosted their target price on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.97.

Lam Research Stock Down 1.5 %

LRCX opened at $71.57 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. Lam Research Co. has a fifty-two week low of $68.72 and a fifty-two week high of $113.00. The firm’s fifty day moving average is $76.62 and its 200 day moving average is $86.79. The stock has a market cap of $92.09 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 1.14 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share 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 company had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the previous year, the company earned $6.85 EPS. Lam Research’s revenue for the quarter was up 19.7% on a year-over-year basis. On average, sell-side analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is 29.74%.

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.