CIBC Asset Management Inc Purchases 374,089 Shares of Lam Research Co. (NASDAQ:LRCX)

CIBC Asset Management Inc grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 925.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 414,512 shares of the semiconductor company’s stock after purchasing an additional 374,089 shares during the quarter. CIBC Asset Management Inc’s holdings in Lam Research were worth $29,940,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of LRCX. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Lam Research by 2,400.0% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after purchasing an additional 192 shares in the last quarter. Insight Wealth Partners LLC purchased a new stake in shares of Lam Research in the third quarter worth $202,000. B&L Asset Management LLC bought a new stake in Lam Research during the third quarter valued at $204,000. CWC Advisors LLC. bought a new position in Lam Research in the 3rd quarter worth about $220,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Lam Research in the 3rd quarter worth about $220,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

LRCX stock opened at $82.75 on Tuesday. The firm’s 50-day moving average price is $77.48 and its two-hundred day moving average price is $77.86. The stock has a market capitalization of $106.22 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 1.37 and a beta of 1.46. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping 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%. As a group, equities analysts predict that Lam Research Co. will post 3.69 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.11%. Lam Research’s dividend payout ratio (DPR) is 27.95%.

Analyst Ratings Changes

Several research analysts have recently commented on LRCX shares. Wells Fargo & Company boosted their price objective on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research note on Friday, January 17th. Finally, B. Riley reduced their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.72.

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.