Scotia Capital Inc. Has $2.14 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

Scotia Capital Inc. boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 899.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,651 shares of the semiconductor company's stock after acquiring an additional 26,684 shares during the quarter. Scotia Capital Inc.'s holdings in Lam Research were worth $2,142,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LRCX. Pine Valley Investments Ltd Liability Co boosted its stake in shares of Lam Research by 48.3% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 11,464 shares of the semiconductor company's stock valued at $9,364,000 after purchasing an additional 3,732 shares during the last quarter. Arvest Bank Trust Division bought a new position in Lam Research in the third quarter valued at approximately $18,106,000. Wilmington Savings Fund Society FSB grew its holdings in Lam Research by 383.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,547 shares of the semiconductor company's stock worth $3,711,000 after acquiring an additional 3,607 shares during the period. Tidal Investments LLC raised its position in shares of Lam Research by 409.6% during the 3rd quarter. Tidal Investments LLC now owns 37,420 shares of the semiconductor company's stock valued at $30,538,000 after acquiring an additional 30,077 shares during the last quarter. Finally, Synovus Financial Corp boosted its position in shares of Lam Research by 22.4% in the 3rd quarter. Synovus Financial Corp now owns 3,071 shares of the semiconductor company's stock worth $2,508,000 after purchasing an additional 561 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on LRCX shares. The Goldman Sachs Group decreased their target price 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. Susquehanna raised shares of Lam Research from a "neutral" rating to a "positive" rating and upped their target price for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Mizuho upped their price objective on shares of Lam Research from $87.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. UBS Group decreased their target price on Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Monday. Finally, Barclays cut their price objective on Lam Research from $90.00 to $75.00 and set an "equal weight" rating on the stock in a report on Friday, January 17th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $93.87.

Insider Transactions at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm'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 in the company, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.29% of the company's stock.

Lam Research Stock Performance

NASDAQ LRCX traded down $1.38 during trading on Friday, reaching $63.76. 13,845,188 shares of the company's stock were exchanged, compared to its average volume of 12,194,506. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The business has a 50 day moving average price of $75.18 and a 200-day moving average price of $76.08. The stock has a market capitalization of $81.85 billion, a P/E ratio of 19.37, a PEG ratio of 1.47 and a beta of 1.52. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating 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%. Sell-side analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.23 per share. 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 (DPR) is currently 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.