iA Global Asset Management Inc. Increases Holdings in Lam Research Co. (NASDAQ:LRCX)

iA Global Asset Management Inc. grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1,168.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 182,320 shares of the semiconductor company’s stock after purchasing an additional 167,944 shares during the period. iA Global Asset Management Inc.’s holdings in Lam Research were worth $13,169,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Insight Wealth Partners LLC acquired a new stake in shares of Lam Research during the third quarter worth about $202,000. B&L Asset Management LLC acquired a new stake in shares of Lam Research during the third quarter worth about $204,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Lam Research during the third quarter worth about $220,000. Concorde Asset Management LLC acquired a new stake in shares of Lam Research during the third quarter worth about $242,000. Finally, Virtus Investment Advisers Inc. acquired a new stake in shares of Lam Research during the third quarter worth about $245,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of research analyst reports. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a research report on Friday, January 17th. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and boosted their price target for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. The Goldman Sachs Group dropped their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Mizuho boosted their price target on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 price target on shares of Lam Research in a research report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and an average target price of $98.22.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $77.93 on Thursday. The business’s 50 day simple moving average is $79.59 and its 200-day simple moving average is $77.33. The firm has a market capitalization of $100.04 billion, a price-to-earnings ratio of 23.67, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, equities analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is 27.96%.

Insider Activity at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is owned by corporate 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.