Bank of Nova Scotia Sells 29,988 Shares of Lam Research Co. (NASDAQ:LRCX)

Bank of Nova Scotia lessened its stake in shares of Lam Research Co. (NASDAQ:LRCXGet Rating) by 34.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 57,305 shares of the semiconductor company’s stock after selling 29,988 shares during the period. Bank of Nova Scotia’s holdings in Lam Research were worth $24,315,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Capital Advisory Group Advisory Services LLC purchased a new stake in shares of Lam Research in the first quarter worth about $27,000. OLD Second National Bank of Aurora purchased a new stake in Lam Research during the first quarter valued at approximately $27,000. SJS Investment Consulting Inc. grew its stake in shares of Lam Research by 1,400.0% during the first quarter. SJS Investment Consulting Inc. now owns 60 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 56 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in shares of Lam Research by 71.7% during the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 79 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 33 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Lam Research during the second quarter valued at approximately $34,000. Institutional investors own 80.09% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on LRCX shares. Summit Insights raised Lam Research from a “hold” rating to a “buy” rating in a research note on Thursday, October 20th. Bank of America decreased their price objective on Lam Research from $460.00 to $405.00 and set a “buy” rating for the company in a report on Thursday, October 20th. Berenberg Bank reduced their target price on Lam Research from $570.00 to $470.00 and set a “buy” rating for the company in a research note on Friday, October 14th. Barclays reduced their price objective on Lam Research from $405.00 to $300.00 and set an “equal weight” rating for the company in a research note on Thursday, October 13th. Finally, StockNews.com assumed coverage on Lam Research in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $484.86.

Lam Research Stock Up 3.2 %

Shares of NASDAQ LRCX opened at $500.82 on Friday. The business’s 50 day moving average is $394.15 and its two-hundred day moving average is $441.45. The firm has a market cap of $68.30 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 1.76 and a beta of 1.37. The company has a quick ratio of 1.83, a current ratio of 2.69 and a debt-to-equity ratio of 0.67. Lam Research Co. has a 52-week low of $299.59 and a 52-week high of $731.85.

Lam Research (NASDAQ:LRCXGet Rating) last posted its quarterly earnings results on Wednesday, October 19th. The semiconductor company reported $10.42 EPS for the quarter, topping the consensus estimate of $9.54 by $0.88. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.91 billion. Lam Research had a net margin of 26.96% and a return on equity of 74.74%. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.36 earnings per share. Research analysts predict that Lam Research Co. will post 34.63 EPS for the current year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be paid a $1.725 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $6.90 annualized dividend and a dividend yield of 1.38%. Lam Research’s dividend payout ratio (DPR) is 19.79%.

Lam Research Profile

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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