Ontario Teachers Pension Plan Board Has $1.12 Million Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Ontario Teachers Pension Plan Board boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 2,979.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,549 shares of the semiconductor company's stock after purchasing an additional 15,044 shares during the period. Ontario Teachers Pension Plan Board's holdings in Lam Research were worth $1,123,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in LRCX. Guggenheim Capital LLC raised its position in Lam Research by 860.0% during the fourth quarter. Guggenheim Capital LLC now owns 854,100 shares of the semiconductor company's stock valued at $61,692,000 after acquiring an additional 765,135 shares in the last quarter. Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of Lam Research during the 4th quarter valued at $31,973,000. Canada Post Corp Registered Pension Plan acquired a new stake in shares of Lam Research in the 4th quarter valued at $1,581,000. Promethos Capital LLC increased its position in Lam Research by 900.0% during the fourth quarter. Promethos Capital LLC now owns 1,550 shares of the semiconductor company's stock worth $112,000 after buying an additional 1,395 shares during the last quarter. Finally, XTX Topco Ltd raised its holdings in Lam Research by 761.8% during the fourth quarter. XTX Topco Ltd now owns 11,962 shares of the semiconductor company's stock valued at $864,000 after buying an additional 10,574 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on LRCX shares. Oppenheimer decreased their target price on Lam Research from $95.00 to $80.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. 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. Cantor Fitzgerald reissued an "overweight" rating and set a $100.00 price objective on shares of Lam Research in a research report on Tuesday, February 18th. Sanford C. Bernstein raised Lam Research from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group reduced their price objective on Lam Research from $96.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $93.87.

Insider Buying and Selling

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company's stock in a transaction on Thursday, February 20th. The stock was 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 owns 179,084 shares of the company's stock, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.29% of the stock is owned by corporate insiders.

Lam Research Price Performance

LRCX stock traded down $1.38 during trading on Friday, hitting $63.76. 13,845,188 shares of the stock traded hands, compared to its average volume of 12,150,980. The stock has a market cap of $81.85 billion, a price-to-earnings ratio of 19.37, a P/E/G ratio of 1.47 and a beta of 1.52. The company has a 50 day simple moving average of $74.79 and a 200 day simple moving average of $75.96. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. Lam Research Co. has a one year low of $56.32 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 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%. Equities analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were issued a $0.23 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.44%. Lam Research's dividend payout ratio is 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.