Bank of Montreal Can Buys 15,759 Shares of Lam Research Co. (NASDAQ:LRCX)

Bank of Montreal Can grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 6.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 253,965 shares of the semiconductor company’s stock after buying an additional 15,759 shares during the quarter. Bank of Montreal Can’s holdings in Lam Research were worth $210,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of LRCX. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Lam Research during the 2nd quarter valued at about $32,000. RFP Financial Group LLC increased its holdings in Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in Lam Research in the second quarter worth approximately $40,000. Country Trust Bank purchased a new position in shares of Lam Research during the 2nd quarter worth $43,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Lam Research during the 2nd quarter valued at $45,000. Institutional investors own 84.61% of the company’s stock.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. This represents a 13.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on LRCX shares. UBS Group lowered their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Wells Fargo & Company lowered their price objective on Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Morgan Stanley reduced their target price on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. B. Riley lowered their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average price target of $97.97.

Lam Research Stock Up 1.5 %

NASDAQ LRCX opened at $73.71 on Tuesday. Lam Research Co. has a one year low of $68.72 and a one year high of $113.00. The company has a market capitalization of $94.84 billion, a P/E ratio of 23.85, a P/E/G ratio of 1.15 and a beta of 1.48. The stock has a 50 day moving average price of $76.86 and a 200-day moving average price of $87.16. 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 (NASDAQ:LRCX) last announced 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 firm had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter last year, the firm earned $6.85 EPS. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. As a group, equities analysts predict that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Announces Dividend

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

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.