CIBC Asset Management Inc Has $32.99 Million Position in Lam Research Co. (NASDAQ:LRCX)

CIBC Asset Management Inc increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 5.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,423 shares of the semiconductor company’s stock after buying an additional 2,051 shares during the period. CIBC Asset Management Inc’s holdings in Lam Research were worth $32,988,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in LRCX. Blair William & Co. IL raised its position in Lam Research by 5.9% during the 1st quarter. Blair William & Co. IL now owns 5,329 shares of the semiconductor company’s stock worth $5,177,000 after purchasing an additional 297 shares during the last quarter. Tocqueville Asset Management L.P. lifted its stake in shares of Lam Research by 0.9% in the first quarter. Tocqueville Asset Management L.P. now owns 1,897 shares of the semiconductor company’s stock worth $1,843,000 after acquiring an additional 16 shares during the period. TIAA Trust National Association lifted its stake in shares of Lam Research by 3.4% in the first quarter. TIAA Trust National Association now owns 4,569 shares of the semiconductor company’s stock worth $4,439,000 after acquiring an additional 152 shares during the period. Acadian Asset Management LLC boosted its holdings in Lam Research by 88.6% in the first quarter. Acadian Asset Management LLC now owns 7,876 shares of the semiconductor company’s stock valued at $7,647,000 after acquiring an additional 3,700 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board increased its position in Lam Research by 17.2% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 3,625 shares of the semiconductor company’s stock valued at $3,522,000 after purchasing an additional 532 shares during the period. 84.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. UBS Group dropped their price target on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. BNP Paribas upgraded Lam Research to a “hold” rating in a research report on Thursday, October 24th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Finally, Morgan Stanley dropped their target price on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.03.

Insider Buying and Selling

In other news, CAO Christina Correia sold 647 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. This represents a 13.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $70.05 on Friday. Lam Research Co. has a 1-year low of $68.72 and a 1-year high of $113.00. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The stock has a market cap of $90.13 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48. The stock’s fifty day simple moving average is $77.34 and its two-hundred day simple moving average is $88.12.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same period in the prior year, the firm posted $6.85 EPS. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. As a group, analysts forecast that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is currently 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.