Ontario Teachers Pension Plan Board Trims Stake in Lam Research Co. (NASDAQ:LRCX)

Ontario Teachers Pension Plan Board lessened its holdings in Lam Research Co. (NASDAQ:LRCX) by 69.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 505 shares of the semiconductor company’s stock after selling 1,163 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Lam Research were worth $412,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. grew its stake in Lam Research by 13.9% in the 1st quarter. Advisors Asset Management Inc. now owns 3,683 shares of the semiconductor company’s stock worth $3,578,000 after buying an additional 449 shares in the last quarter. Capital International Investors grew its position in Lam Research by 116.7% in the first quarter. Capital International Investors now owns 10,295 shares of the semiconductor company’s stock worth $10,002,000 after acquiring an additional 5,544 shares in the last quarter. Gabelli Funds LLC purchased a new position in Lam Research in the first quarter worth $276,000. Lazard Asset Management LLC raised its position in Lam Research by 0.4% during the first quarter. Lazard Asset Management LLC now owns 29,328 shares of the semiconductor company’s stock valued at $28,494,000 after purchasing an additional 130 shares in the last quarter. Finally, BOKF NA raised its position in Lam Research by 2.7% during the first quarter. BOKF NA now owns 8,148 shares of the semiconductor company’s stock valued at $8,000,000 after purchasing an additional 217 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $72.64 on Friday. Lam Research Co. has a 1 year low of $68.72 and a 1 year high of $113.00. The stock has a market capitalization of $93.47 billion, a P/E ratio of 23.48, a P/E/G ratio of 1.12 and a beta of 1.48. The company’s 50-day moving average is $76.93 and its 200 day moving average is $87.35. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The firm had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. During the same quarter in the prior year, the business earned $6.85 EPS. The business’s revenue for the quarter was up 19.7% on a year-over-year basis. On average, sell-side analysts expect that Lam Research Co. will post 3.52 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

Insider Transactions at Lam Research

In other news, CAO Christina Correia sold 647 shares of the business’s 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 directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Citigroup reduced their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research report on Monday, September 16th. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 target price (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and an average price target of $97.97.

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.