Bank of Nova Scotia Has $200.73 Million Holdings in Lam Research Corporation $LRCX

Bank of Nova Scotia grew its stake in Lam Research Corporation (NASDAQ:LRCX) by 9.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 939,483 shares of the semiconductor company’s stock after buying an additional 77,800 shares during the period. Bank of Nova Scotia owned 0.08% of Lam Research worth $200,731,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of LRCX. Norges Bank acquired a new position in shares of Lam Research during the 4th quarter valued at $3,645,427,000. Price T Rowe Associates Inc. MD boosted its position in shares of Lam Research by 352.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,695,210 shares of the semiconductor company’s stock valued at $2,344,347,000 after buying an additional 10,666,540 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Lam Research by 57.0% in the 4th quarter. Franklin Resources Inc. now owns 10,110,560 shares of the semiconductor company’s stock worth $1,730,724,000 after acquiring an additional 3,671,073 shares in the last quarter. Corient Private Wealth LLC grew its position in Lam Research by 235.5% in the 4th quarter. Corient Private Wealth LLC now owns 5,199,441 shares of the semiconductor company’s stock worth $890,040,000 after purchasing an additional 3,649,553 shares in the last quarter. Finally, J. Stern & Co. LLP increased its stake in Lam Research by 3,826.9% in the 4th quarter. J. Stern & Co. LLP now owns 3,459,377 shares of the semiconductor company’s stock valued at $592,176,000 after buying an additional 3,371,283 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX opened at $319.78 on Friday. The stock’s 50-day simple moving average is $341.33 and its 200 day simple moving average is $273.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.77 and a current ratio of 2.54. Lam Research Corporation has a 52-week low of $90.93 and a 52-week high of $438.50. The stock has a market capitalization of $399.91 billion, a price-to-earnings ratio of 60.34, a price-to-earnings-growth ratio of 1.90 and a beta of 1.80.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.11. The business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.70 billion. Lam Research had a net margin of 30.94% and a return on equity of 66.21%. Lam Research’s revenue was up 23.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.04 EPS. Research analysts forecast that Lam Research Corporation will post 5.68 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Wednesday, June 17th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $1.04 annualized dividend and a dividend yield of 0.3%. Lam Research’s payout ratio is presently 19.62%.

Trending Headlines about Lam Research

Here are the key news stories impacting Lam Research this week:

• Positive Sentiment: Lam Research is being highlighted as one of the semiconductor names likely to benefit from the ongoing AI infrastructure buildout, with investors continuing to favor chip equipment companies tied to advanced manufacturing. Billionaire Investor Philippe Laffont’s Top 5 Tech Picks
• Positive Sentiment: Recent coverage says Lam Research heads into its next earnings report with the ingredients for a possible beat, suggesting expectations are constructive ahead of results. Lam Research (LRCX) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Positive Sentiment: Wall Street’s generally bullish view on Lam Research is another supportive factor, with analyst sentiment implying confidence in the company’s longer-term fundamentals. Is It Worth Investing in Lam Research (LRCX) Based on Wall Street’s Bullish Views?
• Neutral Sentiment: Lam Research recently joined the AI Materials Foundry as a founding partner, reinforcing its AI relevance, but the article also notes that the stock has cooled recently after a strong run. Lam Research (LRCX) Following AI Materials Foundry Move Looks About Right
• Neutral Sentiment: Broader semiconductor optimism remains intact, with semiconductor ETFs up sharply this year and investors watching Intel’s earnings as a read-through for the group. Semiconductor ETFs Surge Ahead of Intel Earnings
• Negative Sentiment: Some market commentary points to profit-taking in technology stocks ahead of major earnings releases, which can weigh on sentiment across the semiconductor sector, including Lam Research. Nasdaq slips and Dow climbs as investors brace for big tech earnings, Super Micro surges

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Lam Research from $300.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Stifel Nicolaus upped their price objective on Lam Research from $325.00 to $425.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Bank of America raised their target price on Lam Research from $330.00 to $480.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Sanford C. Bernstein boosted their price target on shares of Lam Research from $325.00 to $340.00 and gave the stock an “outperform” rating in a report on Thursday, May 21st. Finally, Rothschild & Co Redburn raised their price target on shares of Lam Research from $305.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $360.51.

Insider Activity at Lam Research

In other news, Director Abhijit Y. Talwalkar sold 18,282 shares of the stock in a transaction on Monday, July 13th. The shares were sold at an average price of $335.00, for a total value of $6,124,470.00. Following the transaction, the director owned 87,142 shares of the company’s stock, valued at $29,192,570. This represents a 17.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Brandt sold 54,500 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $350.80, for a total value of $19,118,600.00. Following the completion of the transaction, the director directly owned 199,205 shares in the company, valued at approximately $69,881,114. This represents a 21.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 104,621 shares of company stock worth $33,804,737 in the last 90 days. 0.31% of the stock is currently owned by corporate insiders.

About Lam Research

Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.

Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.