TD Asset Management Inc. Takes Position in Lam Research Co. (NASDAQ:LRCX)

TD Asset Management Inc. bought a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,581,912 shares of the semiconductor company’s stock, valued at approximately $186,492,000. TD Asset Management Inc. owned 0.20% of Lam Research at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Parisi Gray Wealth Management grew its stake in shares of Lam Research by 652.9% in the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after purchasing an additional 7,241 shares during the last quarter. Burns J W & Co. Inc. NY bought a new stake in shares of Lam Research in the 4th quarter valued at about $815,000. Centerpoint Advisors LLC increased its stake in shares of Lam Research by 900.0% in the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock valued at $72,000 after buying an additional 900 shares during the period. Worldquant Millennium Advisors LLC raised its position in shares of Lam Research by 51.9% during the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after acquiring an additional 73,648 shares during the last quarter. Finally, Benjamin Edwards Inc. lifted its stake in shares of Lam Research by 4,085.9% in the third quarter. Benjamin Edwards Inc. now owns 13,395 shares of the semiconductor company’s stock worth $10,932,000 after acquiring an additional 13,075 shares during the period. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Down 0.4 %

Shares of NASDAQ:LRCX opened at $77.67 on Wednesday. The business’s 50 day moving average is $79.75 and its 200 day moving average is $77.31. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00. The stock has a market cap of $99.70 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 1.47 and a beta of 1.53. 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 (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) 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%. On average, 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.18%. Lam Research’s payout ratio is presently 27.96%.

Analyst Upgrades and Downgrades

LRCX has been the subject of several analyst reports. Oppenheimer initiated coverage on shares of Lam Research in a report on Thursday, March 20th. They set an “outperform” rating and a $95.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 target price on shares of Lam Research in a report on Tuesday, February 18th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Finally, Barclays lowered their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $98.06.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the transaction, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is currently owned by company insiders.

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.