Industrial Alliance Investment Management Inc. Sells 8,924 Shares of Lam Research Co. (NASDAQ:LRCX)

Industrial Alliance Investment Management Inc. decreased its stake in shares of Lam Research Co. (NASDAQ:LRCX – Get Rating) by 35.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,999 shares of the semiconductor company’s stock after selling 8,924 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in Lam Research were worth $5,856,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Baird Financial Group Inc. grew its position in Lam Research by 11.5% in the first quarter. Baird Financial Group Inc. now owns 39,514 shares of the semiconductor company’s stock valued at $21,243,000 after purchasing an additional 4,090 shares in the last quarter. Zions Bancorporation N.A. grew its position in Lam Research by 39.1% in the first quarter. Zions Bancorporation N.A. now owns 281 shares of the semiconductor company’s stock valued at $151,000 after purchasing an additional 79 shares in the last quarter. Brown Brothers Harriman & Co. grew its position in Lam Research by 18.8% in the first quarter. Brown Brothers Harriman & Co. now owns 721 shares of the semiconductor company’s stock valued at $388,000 after purchasing an additional 114 shares in the last quarter. Covestor Ltd grew its position in Lam Research by 51.9% in the first quarter. Covestor Ltd now owns 322 shares of the semiconductor company’s stock valued at $173,000 after purchasing an additional 110 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in Lam Research by 11.8% in the first quarter. Mackenzie Financial Corp now owns 233,280 shares of the semiconductor company’s stock valued at $125,414,000 after purchasing an additional 24,636 shares in the last quarter. Institutional investors own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on LRCX shares. Stifel Nicolaus assumed coverage on shares of Lam Research in a research report on Tuesday, January 17th. They issued a “hold” rating and a $495.00 target price for the company. Sanford C. Bernstein downgraded shares of Lam Research from an “outperform” rating to a “market perform” rating in a research report on Monday. Wells Fargo & Company lifted their price objective on shares of Lam Research from $410.00 to $470.00 and gave the company an “equal weight” rating in a research report on Thursday, January 26th. Evercore ISI set a $450.00 price objective on shares of Lam Research in a research report on Wednesday, November 23rd. Finally, The Goldman Sachs Group lifted their price objective on shares of Lam Research from $434.00 to $495.00 and gave the company a “buy” rating in a research report on Thursday, January 26th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $492.10.

Lam Research Price Performance

Shares of Lam Research stock opened at $487.05 on Thursday. Lam Research Co. has a twelve month low of $299.59 and a twelve month high of $574.79. The company has a quick ratio of 1.95, a current ratio of 3.02 and a debt-to-equity ratio of 0.60. The company has a 50-day simple moving average of $488.48 and a two-hundred day simple moving average of $442.18. The stock has a market capitalization of $65.72 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 8.26 and a beta of 1.48.

Lam Research (NASDAQ:LRCX – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The semiconductor company reported $10.71 earnings per share for the quarter, topping the consensus estimate of $9.95 by $0.76. Lam Research had a net margin of 26.91% and a return on equity of 73.48%. The business had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter in the previous year, the company earned $8.53 EPS. The business’s revenue was up 24.9% on a year-over-year basis. Analysts forecast that Lam Research Co. will post 33.3 EPS for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 15th will be paid a $1.725 dividend. This represents a $6.90 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Tuesday, March 14th. Lam Research’s dividend payout ratio (DPR) is 18.55%.

Insiders Place Their Bets

In other Lam Research news, Director Abhijit Y. Talwalkar sold 880 shares of Lam Research stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $429.72, for a total value of $378,153.60. Following the completion of the sale, the director now owns 14,762 shares in the company, valued at approximately $6,343,526.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Richard A. Gottscho sold 3,540 shares of the business’s stock in a transaction that occurred on Wednesday, December 21st. The shares were sold at an average price of $450.00, for a total value of $1,593,000.00. Following the completion of the transaction, the executive vice president now directly owns 26,672 shares in the company, valued at approximately $12,002,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Abhijit Y. Talwalkar sold 880 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $429.72, for a total transaction of $378,153.60. Following the completion of the transaction, the director now owns 14,762 shares of the company’s stock, valued at $6,343,526.64. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Lam Research Company Profile

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Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.