AGF Management Ltd. Reduces Stock Holdings in Lam Research Corporation (NASDAQ:LRCX)

AGF Management Ltd. decreased its holdings in Lam Research Corporation (NASDAQ:LRCX) by 30.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,221,240 shares of the semiconductor company’s stock after selling 535,435 shares during the quarter. AGF Management Ltd.’s holdings in Lam Research were worth $88,784,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Pinnacle Financial Partners Inc bought a new stake in shares of Lam Research in the first quarter worth approximately $201,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Lam Research during the 4th quarter valued at $6,296,000. China Universal Asset Management Co. Ltd. raised its position in shares of Lam Research by 27.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,505 shares of the semiconductor company’s stock valued at $3,607,000 after purchasing an additional 10,565 shares during the period. First Citizens Bank & Trust Co. lifted its holdings in shares of Lam Research by 47.8% in the first quarter. First Citizens Bank & Trust Co. now owns 121,902 shares of the semiconductor company’s stock worth $8,862,000 after buying an additional 39,414 shares in the last quarter. Finally, Global X Japan Co. Ltd. purchased a new position in shares of Lam Research in the first quarter worth $3,152,000. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Morgan Stanley upped their price target on shares of Lam Research from $87.00 to $94.00 and gave the company an “equal weight” rating in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft set a $70.00 price target on shares of Lam Research and gave the stock a “hold” rating in a report on Thursday, April 24th. Needham & Company LLC increased their target price on shares of Lam Research from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Stifel Nicolaus increased their target price on shares of Lam Research from $92.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Finally, The Goldman Sachs Group initiated coverage on shares of Lam Research in a report on Thursday, July 10th. They issued a “buy” rating and a $115.00 price target on the stock. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $107.09.

Lam Research Stock Performance

Shares of Lam Research stock opened at $101.75 on Monday. The firm has a market cap of $130.15 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 1.32 and a beta of 1.65. The stock’s 50-day moving average is $95.53 and its 200-day moving average is $83.04. Lam Research Corporation has a one year low of $56.32 and a one year high of $102.59. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.21 and a quick ratio of 1.55.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The company had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. The business’s revenue was up 33.6% on a year-over-year basis. Equities analysts predict that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were paid a $0.23 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.9%. Lam Research’s dividend payout ratio (DPR) is currently 22.12%.

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.