Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Cibc World Market Inc.

Cibc World Market Inc. lifted its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 974.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 184,132 shares of the semiconductor company's stock after acquiring an additional 166,999 shares during the quarter. Cibc World Market Inc.'s holdings in Lam Research were worth $13,300,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in LRCX. Migdal Insurance & Financial Holdings Ltd. grew its position in Lam Research by 2,400.0% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company's stock worth $163,000 after purchasing an additional 192 shares during the last quarter. Sunflower Bank N.A. acquired a new position in Lam Research during the third quarter worth about $202,000. Insight Wealth Partners LLC acquired a new position in Lam Research during the third quarter worth about $202,000. B&L Asset Management LLC purchased a new stake in shares of Lam Research during the third quarter worth about $204,000. Finally, CWC Advisors LLC. purchased a new stake in shares of Lam Research during the third quarter worth about $220,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Stock Up 2.5 %

Lam Research stock traded up $2.03 during mid-day trading on Wednesday, reaching $81.94. The stock had a trading volume of 10,736,017 shares, compared to its average volume of 12,802,400. 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 Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The stock's 50-day simple moving average is $76.32 and its 200-day simple moving average is $78.33. The firm has a market capitalization of $105.18 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 1.34 and a beta of 1.46.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share 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%. On average, sell-side analysts forecast that Lam Research Co. will post 3.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of recent analyst reports. KeyCorp upgraded 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 report on Friday, January 17th. Cantor Fitzgerald raised shares of Lam Research from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $95.00 to $100.00 in a research report on Thursday, January 30th. The Goldman Sachs Group cut their price target on shares of Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, January 10th. B. Riley lowered their target price on shares of Lam Research from $132.50 to $105.00 and set a "buy" rating for the company in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company upped 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. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $95.72.

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.