TD Asset Management Inc. Buys Shares of 2,581,912 Lam Research Co. (NASDAQ:LRCX)

TD Asset Management Inc. acquired a new position in Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,581,912 shares of the semiconductor company’s stock, valued at approximately $186,492,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Insight Wealth Partners LLC purchased a new position in shares of Lam Research in the third quarter worth about $202,000. B&L Asset Management LLC bought a new stake in Lam Research during the 3rd quarter valued at $204,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Lam Research during the third quarter worth $220,000. Virtus Investment Advisers Inc. bought a new position in shares of Lam Research in the third quarter worth $245,000. Finally, Qsemble Capital Management LP purchased a new position in shares of Lam Research in the third quarter valued at $267,000. 84.61% of the stock is currently owned by institutional investors.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction dated 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 sale, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.29% of the company’s stock.

Lam Research Price Performance

LRCX stock opened at $77.67 on Wednesday. The firm has a market cap of $99.70 billion, a P/E ratio of 23.59, a P/E/G ratio of 1.47 and a beta of 1.53. The firm’s fifty day moving average is $79.75 and its 200 day moving average is $77.31. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Research analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research note on Friday, January 17th. Barclays reduced their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Wells Fargo & Company increased their target price on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Finally, Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $98.06.

About Lam Research

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.