Caisse DE Depot ET Placement DU Quebec Increases Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 89.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,045 shares of the semiconductor company's stock after acquiring an additional 46,394 shares during the period. Caisse DE Depot ET Placement DU Quebec's holdings in Lam Research were worth $80,013,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Circle Wealth Management LLC increased its stake in Lam Research by 60.7% during the 3rd quarter. Circle Wealth Management LLC now owns 2,012 shares of the semiconductor company's stock valued at $1,642,000 after purchasing an additional 760 shares in the last quarter. White Knight Strategic Wealth Advisors LLC increased its position in shares of Lam Research by 18.7% in the 3rd quarter. White Knight Strategic Wealth Advisors LLC now owns 1,950 shares of the semiconductor company's stock valued at $1,591,000 after acquiring an additional 307 shares during the period. Fred Alger Management LLC lifted its position in Lam Research by 23.1% during the 3rd quarter. Fred Alger Management LLC now owns 7,895 shares of the semiconductor company's stock worth $6,443,000 after acquiring an additional 1,482 shares during the period. Captrust Financial Advisors raised its stake in shares of Lam Research by 2.3% in the third quarter. Captrust Financial Advisors now owns 113,198 shares of the semiconductor company's stock worth $92,379,000 after purchasing an additional 2,539 shares during the last quarter. Finally, Icon Wealth Advisors LLC boosted its position in Lam Research by 11.0% in the third quarter. Icon Wealth Advisors LLC now owns 2,217 shares of the semiconductor company's stock valued at $1,809,000 after buying an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research Trading Up 3.2 %

Shares of LRCX stock traded up $2.31 on Friday, hitting $73.88. 10,736,454 shares of the stock traded hands, compared to its average volume of 9,962,676. The firm's 50-day moving average price is $76.52 and its two-hundred day moving average price is $86.64. Lam Research Co. has a twelve month low of $68.72 and a twelve month high of $113.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The stock has a market capitalization of $95.06 billion, a PE ratio of 23.88, a PEG ratio of 1.17 and a beta of 1.48.

Lam Research (NASDAQ:LRCX - Get Free Report) last released 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. 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 for the quarter, compared to analyst estimates of $4.06 billion. During the same period in the prior year, the firm earned $6.85 earnings per share. The business's quarterly revenue was up 19.7% compared to the same quarter last year. As a group, analysts anticipate that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be issued a $0.23 dividend. 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 payout ratio is currently 29.74%.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now directly owns 4,267 shares of the company's stock, valued at $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.29% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on LRCX. Cantor Fitzgerald restated a "neutral" rating and set a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. UBS Group decreased their price objective on shares of Lam Research from $125.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, September 12th. StockNews.com cut shares of Lam Research from a "buy" rating to a "hold" rating in a research note on Friday, October 11th. Sanford C. Bernstein decreased their price objective on shares of Lam Research from $95.00 to $85.00 and set a "market perform" rating for the company in a research note on Friday. Finally, Morgan Stanley cut 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. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $97.29.

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.