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

CIBC Asset Management Inc increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 925.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 414,512 shares of the semiconductor company’s stock after buying an additional 374,089 shares during the period. CIBC Asset Management Inc’s holdings in Lam Research were worth $29,940,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the company. Cypress Capital Group boosted its position in shares of Lam Research by 3.7% in the third quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock valued at $2,987,000 after acquiring an additional 132 shares during the period. Savvy Advisors Inc. increased its holdings in shares of Lam Research by 58.3% during the third quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock worth $297,000 after purchasing an additional 134 shares during the period. West Oak Capital LLC raised its position in shares of Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 135 shares in the last quarter. Baldwin Investment Management LLC boosted its stake in shares of Lam Research by 1.4% in the third quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock valued at $8,364,000 after buying an additional 137 shares during the period. Finally, Bedell Frazier Investment Counselling LLC grew its position in Lam Research by 10.1% during the third quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company’s stock worth $1,272,000 after buying an additional 143 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Down 0.7 %

LRCX stock opened at $82.75 on Tuesday. 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 Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The stock’s 50 day simple moving average is $77.48 and its 200 day simple moving average is $77.86. The company has a market cap of $106.22 billion, a P/E ratio of 25.14, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (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%. On average, research analysts expect that Lam Research Co. will post 3.69 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s payout ratio is presently 27.95%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 target price (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Wells Fargo & Company boosted 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. Cantor Fitzgerald upgraded Lam Research from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $95.00 to $100.00 in a report on Thursday, January 30th. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a research report on Friday, January 17th. Finally, Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and upped their price target for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and a consensus 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.