Lam Research Co. (NASDAQ:LRCX) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp increased its position in Lam Research Co. (NASDAQ:LRCX) by 0.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 288,704 shares of the semiconductor company’s stock after buying an additional 46 shares during the quarter. Mackenzie Financial Corp’s holdings in Lam Research were worth $307,426,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Swedbank AB bought a new position in shares of Lam Research during the 1st quarter valued at about $192,668,000. Van ECK Associates Corp boosted its holdings in Lam Research by 24.6% during the first quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company’s stock worth $940,592,000 after buying an additional 191,230 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Lam Research by 1.2% during the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after buying an additional 144,914 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Lam Research by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after buying an additional 142,903 shares during the last quarter. Finally, Natixis lifted its position in shares of Lam Research by 1,267.1% during the 1st quarter. Natixis now owns 142,967 shares of the semiconductor company’s stock valued at $138,902,000 after acquiring an additional 132,509 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Trading Up 5.4 %

NASDAQ:LRCX opened at $847.50 on Friday. The company has a market capitalization of $110.80 billion, a P/E ratio of 31.17, a P/E/G ratio of 1.51 and a beta of 1.48. The stock’s 50 day moving average price is $821.73 and its 200 day moving average price is $921.66. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. Lam Research Co. has a 52 week low of $574.42 and a 52 week high of $1,130.00.

Lam Research shares are scheduled to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued shares will be distributed to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.58 by $0.56. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. Lam Research’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.98 EPS. On average, research analysts forecast that Lam Research Co. will post 35.2 EPS for the current fiscal year.

Lam Research Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.09%. This is an increase from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date is Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is presently 33.84%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LRCX. Needham & Company LLC restated a “buy” rating and issued a $1,130.00 target price on shares of Lam Research in a report on Thursday, August 1st. Citigroup cut their price objective on Lam Research from $990.00 to $893.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $1,200.00 price objective on shares of Lam Research in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft cut their price target on shares of Lam Research from $1,100.00 to $950.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Finally, Mizuho decreased their price objective on shares of Lam Research from $1,050.00 to $950.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and an average price target of $1,012.84.

Insider Buying and Selling

In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the transaction, the senior vice president now owns 5,237 shares in the company, valued at $5,535,456.63. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Neil J. Fernandes sold 1,620 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the completion of the sale, the senior vice president now directly owns 5,237 shares of the company’s stock, valued at approximately $5,535,456.63. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction on Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the completion of the transaction, the chief accounting officer now owns 4,914 shares in the company, valued at approximately $5,219,945.64. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.

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.