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

Bank of Montreal Can increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 6.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Lam Research during the 2nd quarter worth $32,000. RFP Financial Group LLC raised its position in Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company's stock valued at $37,000 after purchasing an additional 12 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in Lam Research in the second quarter valued at about $40,000. Country Trust Bank bought a new position in Lam Research in the second quarter valued at about $43,000. Finally, MFA Wealth Advisors LLC bought a new position in Lam Research in the second quarter valued at about $45,000. 84.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Lam Research Trading Down 1.4 %

NASDAQ LRCX traded down $1.02 during trading hours on Tuesday, hitting $72.69. 7,381,946 shares of the company's stock were exchanged, compared to its average volume of 11,247,188. The stock has a 50-day simple moving average of $76.80 and a 200 day simple moving average of $87.04. Lam Research Co. has a 1-year low of $68.72 and a 1-year high of $113.00. The firm has a market cap of $93.53 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 1.15 and a beta of 1.48. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53.

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

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.27%. Lam Research's payout ratio is currently 29.77%.

Wall Street Analyst Weigh In

Several research firms have commented on LRCX. StockNews.com downgraded Lam Research from a "buy" rating to a "hold" rating in a research report on Friday, October 11th. Citigroup dropped their target price on Lam Research from $99.00 to $89.30 and set a "buy" rating for the company in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft dropped their target price on Lam Research from $110.00 to $95.00 and set a "buy" rating for the company in a research report on Thursday, August 1st. Morgan Stanley dropped their target price on Lam Research from $81.00 to $77.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 23rd. Finally, BNP Paribas upgraded Lam Research to a "hold" rating in a research report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $97.97.

Lam Research Company 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.