Canada Pension Plan Investment Board Buys 155,240 Shares of Lam Research Co. (NASDAQ:LRCX)

Canada Pension Plan Investment Board boosted its stake in Lam Research Co. (NASDAQ:LRCXFree Report) by 106.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 301,071 shares of the semiconductor company’s stock after purchasing an additional 155,240 shares during the quarter. Canada Pension Plan Investment Board owned about 0.23% of Lam Research worth $188,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of LRCX. Essex Financial Services Inc. raised its stake in shares of Lam Research by 22.0% during the second quarter. Essex Financial Services Inc. now owns 620 shares of the semiconductor company’s stock worth $399,000 after acquiring an additional 112 shares in the last quarter. First Interstate Bank bought a new position in shares of Lam Research in the second quarter worth approximately $217,000. Carmichael Hill & Associates Inc. increased its position in Lam Research by 1,052.6% during the 2nd quarter. Carmichael Hill & Associates Inc. now owns 219 shares of the semiconductor company’s stock valued at $141,000 after purchasing an additional 200 shares during the period. CWM LLC increased its position in Lam Research by 11.5% during the 2nd quarter. CWM LLC now owns 3,970 shares of the semiconductor company’s stock valued at $2,552,000 after purchasing an additional 408 shares during the period. Finally, Lester Murray Antman dba SimplyRich purchased a new position in Lam Research during the 2nd quarter valued at $208,000. 84.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Lam Research from $850.00 to $950.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Mizuho upped their price target on shares of Lam Research from $900.00 to $935.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $900.00 price target on shares of Lam Research in a research note on Monday, January 29th. Citigroup upped their price target on shares of Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Raymond James upped their target price on shares of Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Nine equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $793.27.

Read Our Latest Stock Report on Lam Research

Insider Activity

In other news, EVP Patrick J. Lord sold 1,845 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $675.00, for a total transaction of $1,245,375.00. Following the sale, the executive vice president now owns 11,737 shares in the company, valued at $7,922,475. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Patrick J. Lord sold 1,845 shares of Lam Research stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $675.00, for a total transaction of $1,245,375.00. Following the completion of the sale, the executive vice president now owns 11,737 shares of the company’s stock, valued at $7,922,475. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Patrick J. Lord sold 2,832 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $700.00, for a total value of $1,982,400.00. Following the completion of the transaction, the executive vice president now directly owns 9,892 shares of the company’s stock, valued at $6,924,400. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,236 shares of company stock worth $25,375,687. Company insiders own 0.32% of the company’s stock.

Lam Research Trading Up 2.0 %

LRCX traded up $17.24 during trading on Thursday, reaching $865.78. The company had a trading volume of 400,369 shares, compared to its average volume of 1,085,654. The stock has a market cap of $113.50 billion, a P/E ratio of 32.81, a PEG ratio of 2.99 and a beta of 1.50. The business has a 50 day simple moving average of $776.52 and a 200-day simple moving average of $699.23. Lam Research Co. has a 52 week low of $467.02 and a 52 week high of $900.09. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61.

Lam Research (NASDAQ:LRCXGet Free Report) last released its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, topping the consensus estimate of $7.06 by $0.46. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same period last year, the company earned $10.71 earnings per share. The business’s revenue for the quarter was down 28.8% compared to the same quarter last year. On average, equities analysts anticipate that Lam Research Co. will post 28.68 EPS for the current fiscal year.

Lam Research Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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