National Bank of Canada FI Increases Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

National Bank of Canada FI increased its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 1,102.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,156,852 shares of the semiconductor company's stock after purchasing an additional 1,977,509 shares during the period. National Bank of Canada FI owned 0.17% of Lam Research worth $155,790,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Lam Research by 892.7% in the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock worth $8,724,498,000 after purchasing an additional 108,619,564 shares during the last quarter. Norges Bank bought a new stake in Lam Research in the 4th quarter worth approximately $1,661,672,000. Fisher Asset Management LLC raised its holdings in shares of Lam Research by 892.7% during the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company's stock worth $1,341,902,000 after acquiring an additional 16,706,708 shares in the last quarter. Amundi boosted its position in shares of Lam Research by 7,601.9% during the 4th quarter. Amundi now owns 12,945,172 shares of the semiconductor company's stock valued at $990,464,000 after acquiring an additional 12,777,094 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Lam Research by 860.4% in the fourth quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company's stock valued at $851,361,000 after purchasing an additional 10,559,508 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

A number of research firms recently issued reports on LRCX. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $100.00 price target on shares of Lam Research in a research note on Tuesday, February 18th. Wells Fargo & Company increased their price target on shares of Lam Research from $82.00 to $85.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. Wolfe Research cut Lam Research from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 15th. KeyCorp raised Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price objective for the company in a research note on Friday, January 17th. Finally, Susquehanna raised Lam Research from a "neutral" rating to a "positive" rating and boosted their target price for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat, Lam Research presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.59.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the transaction, the senior vice president now owns 179,084 shares of the company's stock, valued at $16,117,560. The trade was a 38.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.29% of the company's stock.

Lam Research Stock Up 1.3 %

NASDAQ:LRCX traded up $0.95 during mid-day trading on Wednesday, reaching $73.78. The company's stock had a trading volume of 7,606,426 shares, compared to its average volume of 11,711,904. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The stock has a fifty day moving average of $78.99 and a 200-day moving average of $77.28. The firm has a market capitalization of $94.71 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results 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 net margin of 26.49% and a return on equity of 51.86%. Equities research analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.25%. Lam Research's dividend payout ratio is presently 27.96%.

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.