Caisse DE Depot ET Placement DU Quebec Has $80.01 Million Position in Lam Research Co. (NASDAQ:LRCX)

Caisse DE Depot ET Placement DU Quebec lifted its stake in Lam Research Co. (NASDAQ:LRCX) by 89.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 98,045 shares of the semiconductor company’s stock after acquiring an additional 46,394 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Lam Research were worth $80,013,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in shares of Lam Research by 15.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 353 shares of the semiconductor company’s stock valued at $316,000 after acquiring an additional 46 shares in the last quarter. Transcend Capital Advisors LLC raised its position in shares of Lam Research by 3.5% in the second quarter. Transcend Capital Advisors LLC now owns 919 shares of the semiconductor company’s stock valued at $979,000 after purchasing an additional 31 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Lam Research by 11.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 408 shares of the semiconductor company’s stock worth $434,000 after buying an additional 41 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in Lam Research in the 2nd quarter worth $690,000. Finally, Versant Capital Management Inc raised its holdings in Lam Research by 423.1% in the 2nd quarter. Versant Capital Management Inc now owns 68 shares of the semiconductor company’s stock worth $72,000 after acquiring an additional 55 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Lam Research news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LRCX. UBS Group lowered their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Wells Fargo & Company dropped their target price on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Stifel Nicolaus restated a “buy” rating and issued a $100.00 price target (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. BNP Paribas raised shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. Finally, B. Riley decreased their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $97.29.

Lam Research Stock Up 3.2 %

Lam Research stock opened at $73.88 on Friday. The company has a fifty day simple moving average of $76.52 and a 200 day simple moving average of $86.67. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. Lam Research Co. has a 1-year low of $68.72 and a 1-year high of $113.00. The company has a market cap of $95.06 billion, a P/E ratio of 23.88, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. Lam Research’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.85 earnings per share. Research analysts anticipate that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.25%. Lam Research’s payout ratio is 29.74%.

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.