Industrial Alliance Investment Management Inc. Has $5.86 Million Holdings in Lam Research Co. (NASDAQ:LRCX)

Posted by Defense World Staff on Mar 16th, 2023

Industrial Alliance Investment Management Inc. lessened its holdings in Lam Research Co. (NASDAQ:LRCX – Get Rating) by 35.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 reporting period.

Several other institutional investors and hedge funds have also modified their holdings of LRCX. Cary Street Partners Investment Advisory LLC lifted its position in Lam Research by 32.1% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 420 shares of the semiconductor company’s stock worth $154,000 after acquiring an additional 102 shares during the last quarter. Jump Financial LLC lifted its position in Lam Research by 100.7% during the 3rd quarter. Jump Financial LLC now owns 1,770 shares of the semiconductor company’s stock worth $648,000 after acquiring an additional 888 shares during the last quarter. Redwood Investment Management LLC acquired a new position in Lam Research during the 3rd quarter worth $236,000. Gulf International Bank UK Ltd lifted its position in Lam Research by 0.3% during the 3rd quarter. Gulf International Bank UK Ltd now owns 23,120 shares of the semiconductor company’s stock worth $8,461,000 after acquiring an additional 69 shares during the last quarter. Finally, Terra Nova Asset Management LLC lifted its position in Lam Research by 2.9% during the 3rd quarter. Terra Nova Asset Management LLC now owns 4,766 shares of the semiconductor company’s stock worth $1,744,000 after acquiring an additional 136 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

A number of research analysts have weighed in on LRCX shares. StockNews.com started coverage on shares of Lam Research in a research report on Thursday. They set a “buy” rating for the company. Barclays upped their price objective on shares of Lam Research from $300.00 to $475.00 and gave the company an “equal weight” rating in a research report on Monday, January 23rd. Wells Fargo & Company upped 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. Deutsche Bank Aktiengesellschaft raised shares of Lam Research from a “hold” rating to a “buy” rating and upped their price objective for the company from $400.00 to $520.00 in a research report on Monday, December 12th. Finally, Mizuho upped their price objective on shares of Lam Research from $500.00 to $525.00 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 company’s stock. According to data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average price target of $492.10.

Lam Research Price Performance

Shares of Lam Research stock opened at $487.05 on Thursday. The company has a current ratio of 3.02, a quick ratio of 1.95 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $65.72 billion, a price-to-earnings ratio of 13.09, a P/E/G ratio of 8.26 and a beta of 1.48. Lam Research Co. has a 1-year low of $299.59 and a 1-year high of $574.79. The firm’s 50-day moving average price is $488.48 and its two-hundred day moving average price is $442.18.

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. The firm had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.08 billion. Lam Research had a net margin of 26.91% and a return on equity of 73.48%. The company’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.53 earnings per share. On average, equities analysts predict that Lam Research Co. will post 33.3 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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

About Lam Research

(Get Rating)

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.