Desjardins Global Asset Management Inc. Sells 328 Shares of Lam Research Co. (NASDAQ:LRCX)

Desjardins Global Asset Management Inc. reduced its position in shares of Lam Research Co. (NASDAQ:LRCX) by 10.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,819 shares of the semiconductor company’s stock after selling 328 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Lam Research were worth $2,208,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC lifted its stake in Lam Research by 117,180.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 32,822,222 shares of the semiconductor company’s stock valued at $13,795,180,000 after buying an additional 32,794,236 shares during the period. State Street Corp lifted its stake in Lam Research by 1.7% in the first quarter. State Street Corp now owns 5,697,200 shares of the semiconductor company’s stock valued at $3,029,550,000 after buying an additional 92,606 shares during the period. Geode Capital Management LLC lifted its stake in Lam Research by 0.8% in the first quarter. Geode Capital Management LLC now owns 2,542,805 shares of the semiconductor company’s stock valued at $1,345,403,000 after buying an additional 19,280 shares during the period. Morgan Stanley lifted its stake in Lam Research by 3.2% in the third quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock valued at $1,164,490,000 after buying an additional 56,824 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Lam Research by 10.8% in the third quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock valued at $1,029,386,000 after buying an additional 159,815 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of research reports. TD Cowen upped their target price on Lam Research from $710.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Stifel Nicolaus upped their target price on Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Tuesday. The Goldman Sachs Group upped their target price on Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Barclays upped their target price on Lam Research from $750.00 to $825.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 25th. Finally, Susquehanna upped their price target on Lam Research from $655.00 to $880.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and a consensus target price of $875.55.

Insider Activity

In other news, CAO Christina Corrreia sold 647 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the transaction, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the transaction, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the sale, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,029 shares of company stock worth $6,559,489. 0.32% of the stock is currently owned by insiders.

Lam Research Stock Performance

NASDAQ:LRCX opened at $963.23 on Wednesday. The business’s 50-day moving average price is $944.50 and its two-hundred day moving average price is $796.73. Lam Research Co. has a twelve month low of $482.74 and a twelve month high of $1,007.39. The stock has a market cap of $126.28 billion, a P/E ratio of 37.25, a PEG ratio of 3.43 and a beta of 1.51. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating the consensus estimate of $7.06 by $0.46. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The firm had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter last year, the firm posted $10.71 EPS. The company’s revenue was down 28.8% compared to the same quarter last year. As a group, equities analysts predict that Lam Research Co. will post 28.9 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were given a dividend of $2.00 per share. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 annualized dividend and a dividend yield of 0.83%. Lam Research’s dividend payout ratio (DPR) is presently 30.94%.

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.