Bank of Montreal Can Buys 1,079,570 Shares of Lam Research Co. (NASDAQ:LRCX)

Bank of Montreal Can grew its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 425.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,333,535 shares of the semiconductor company's stock after acquiring an additional 1,079,570 shares during the quarter. Bank of Montreal Can owned 0.10% of Lam Research worth $96,321,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of LRCX. Parisi Gray Wealth Management increased its holdings in shares of Lam Research by 652.9% in the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company's stock worth $603,000 after acquiring an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY bought a new position in Lam Research in the fourth quarter valued at approximately $815,000. Centerpoint Advisors LLC boosted its holdings in shares of Lam Research by 900.0% in the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock valued at $72,000 after buying an additional 900 shares during the period. Transform Wealth LLC acquired a new stake in shares of Lam Research during the fourth quarter worth $17,269,000. Finally, E. Ohman J or Asset Management AB bought a new stake in Lam Research in the 4th quarter valued at $4,258,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on LRCX shares. Susquehanna raised Lam Research from a "neutral" rating to a "positive" rating and lifted their price target for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Jefferies Financial Group raised their price target on shares of Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Needham & Company LLC reissued a "buy" rating and issued a $90.00 price objective on shares of Lam Research in a research report on Thursday, January 30th. KeyCorp raised shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 target price for the company in a research report on Friday, January 17th. Finally, Wells Fargo & Company boosted their price target on shares of Lam Research from $82.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $96.87.

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Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the transaction, the senior vice president now directly owns 179,084 shares of the company's stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.29% of the company's stock.

Lam Research Stock Performance

Shares of LRCX stock traded up $1.05 during midday trading on Friday, hitting $67.48. 14,704,156 shares of the company were exchanged, compared to its average volume of 12,144,348. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The firm has a market capitalization of $86.62 billion, a P/E ratio of 20.50, a PEG ratio of 1.47 and a beta of 1.52. The firm's 50 day moving average price is $76.49 and its two-hundred day moving average price is $76.49. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 research analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.36%. The ex-dividend date was Wednesday, March 5th. Lam Research's payout ratio is 27.96%.

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.