BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Increases Stake in Lam Research Co. (NASDAQ:LRCX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Lam Research Co. (NASDAQ:LRCX) by 1,005.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 481,687 shares of the semiconductor company’s stock after buying an additional 438,108 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Lam Research were worth $34,792,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Centerpoint Advisors LLC increased its stake in Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock valued at $72,000 after purchasing an additional 900 shares in the last quarter. Transform Wealth LLC acquired a new position in shares of Lam Research in the 4th quarter valued at $17,269,000. E. Ohman J or Asset Management AB purchased a new stake in Lam Research during the fourth quarter valued at about $4,258,000. Huntington National Bank increased its position in Lam Research by 944.0% during the 4th quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company’s stock worth $21,291,000 after purchasing an additional 266,527 shares in the last quarter. Finally, Trust Co. of Oklahoma lifted its holdings in shares of Lam Research by 904.2% during the 4th quarter. Trust Co. of Oklahoma now owns 25,778 shares of the semiconductor company’s stock valued at $1,862,000 after acquiring an additional 23,211 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Trading Up 0.6%

Shares of NASDAQ LRCX opened at $84.29 on Wednesday. The firm has a market capitalization of $107.82 billion, a P/E ratio of 25.60, a P/E/G ratio of 1.47 and a beta of 1.64. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The company’s 50 day simple moving average is $72.68 and its 200 day simple moving average is $75.59. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.00 by $0.04. The firm had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The business’s quarterly revenue was up 24.4% on a year-over-year basis. During the same period last year, the company posted $7.79 EPS. On average, analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Insider Activity at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction on 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 directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LRCX. Needham & Company LLC dropped their price objective on shares of Lam Research from $96.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price target on shares of Lam Research in a research report on Thursday, April 24th. Evercore ISI upped their price objective on Lam Research from $95.00 to $99.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. TD Cowen dropped their price target on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Finally, Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and upped their price objective for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.56.

About Lam Research

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.