BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 438,108 Shares of Lam Research Co. (NASDAQ:LRCX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1,005.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Focus Partners Advisor Solutions LLC raised its position in shares of Lam Research by 4,087.3% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 11,850 shares of the semiconductor company’s stock valued at $856,000 after buying an additional 11,567 shares in the last quarter. CSS LLC IL bought a new stake in shares of Lam Research during the 4th quarter valued at about $567,000. Kolinsky Wealth Management LLC grew its holdings in shares of Lam Research by 942.4% during the 4th quarter. Kolinsky Wealth Management LLC now owns 6,463 shares of the semiconductor company’s stock worth $467,000 after acquiring an additional 5,843 shares during the period. Continuum Advisory LLC purchased a new position in Lam Research during the fourth quarter valued at $65,000. Finally, PharVision Advisers LLC bought a new stake in Lam Research during the fourth quarter worth about $347,000. Institutional investors own 84.61% of the company’s stock.

Insider Activity

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’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 of the company’s stock, valued at $16,117,560. This trade represents a 38.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the topic of several analyst reports. Morgan Stanley upped their target price on shares of Lam Research from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 24th. Oppenheimer decreased their price objective on Lam Research from $95.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. Argus upgraded Lam Research to a “strong-buy” rating in a research note on Friday, April 25th. Bank of America reduced their price objective on shares of Lam Research from $110.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Finally, Evercore ISI upped their price target on shares of Lam Research from $95.00 to $99.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $91.56.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $84.29 on Wednesday. The business has a fifty day simple moving average of $72.68 and a 200-day simple moving average of $75.59. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The company has a market cap 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. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

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

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.