Bank of Montreal Can Grows Holdings in Lam Research Co. (NASDAQ:LRCX)

Bank of Montreal Can grew its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 6.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 253,965 shares of the semiconductor company’s stock after purchasing an additional 15,759 shares during the quarter. Bank of Montreal Can’s holdings in Lam Research were worth $210,060,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Fortitude Family Office LLC grew its holdings in Lam Research by 16.7% during the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock worth $67,000 after acquiring an additional 9 shares in the last quarter. Thomasville National Bank grew its stake in Lam Research by 1.5% in the second quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock valued at $865,000 after purchasing an additional 12 shares during the last quarter. Ignite Planners LLC raised its stake in shares of Lam Research by 2.8% during the 2nd quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock worth $484,000 after acquiring an additional 12 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its position in Lam Research by 3.7% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock valued at $357,000 after acquiring an additional 12 shares during the last quarter. Finally, RFP Financial Group LLC boosted its stake in Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 12 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Insider Transactions at Lam Research

In related news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.29% of the company’s stock.

Lam Research Stock Performance

NASDAQ:LRCX opened at $73.71 on Tuesday. Lam Research Co. has a twelve month low of $68.72 and a twelve month high of $113.00. The company has a market cap of $94.84 billion, a P/E ratio of 23.85, a P/E/G ratio of 1.15 and a beta of 1.48. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The company’s 50-day moving average price is $76.86 and its 200-day moving average price is $87.16.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same period in the previous year, the firm posted $6.85 EPS. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. On average, sell-side analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is presently 29.77%.

Analyst Upgrades and Downgrades

LRCX has been the subject of a number of recent analyst reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $100.00 price objective on shares of Lam Research in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft cut their price objective on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $100.00 price objective (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Morgan Stanley reduced their price objective on Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Finally, B. Riley cut their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $97.97.

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.