Healthcare of Ontario Pension Plan Trust Fund Has $12.80 Million Stake in Lam Research Co. (NASDAQ:LRCX)

Healthcare of Ontario Pension Plan Trust Fund trimmed its stake in Lam Research Co. (NASDAQ:LRCX) by 80.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,019 shares of the semiconductor company’s stock after selling 50,786 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Lam Research were worth $12,798,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of LRCX. CarsonAllaria Wealth Management Ltd. acquired a new stake in Lam Research during the 2nd quarter worth about $32,000. RFP Financial Group LLC grew its holdings in Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 12 shares during the period. Raleigh Capital Management Inc. grew its holdings in Lam Research by 78.6% during the 4th quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 22 shares during the period. Hobbs Group Advisors LLC acquired a new stake in Lam Research during the 2nd quarter worth about $40,000. Finally, Country Trust Bank acquired a new stake in Lam Research during the 2nd quarter worth about $43,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $81.11 on Friday. Lam Research Co. has a fifty-two week low of $57.44 and a fifty-two week high of $113.00. The stock has a market cap of $10.60 billion, a price-to-earnings ratio of 2.98, a PEG ratio of 1.51 and a beta of 1.48. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The firm’s 50-day simple moving average is $95.45 and its 200 day simple moving average is $96.80.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter last year, the firm earned $0.60 EPS. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, research analysts anticipate that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.13%. Lam Research’s dividend payout ratio is currently 33.84%.

Insiders Place Their Bets

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research 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 transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research 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 transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Neil J. Fernandes sold 16,200 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $105.70, for a total transaction of $1,712,323.80. Following the sale, the senior vice president now owns 52,370 shares of the company’s stock, valued at approximately $5,535,456.63. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LRCX. TD Cowen increased their price target on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company decreased their price target on Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating for the company in a report on Thursday. Citigroup cut their price objective on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research report on Monday, September 16th. Cantor Fitzgerald cut their price objective on shares of Lam Research from $120.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Raymond James increased their price objective on shares of Lam Research from $95.00 to $106.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $141.28.

Lam Research 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.