Connor Clark & Lunn Investment Management Ltd. Takes Position in Lam Research Co. (LRCX)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 8,900 shares of the semiconductor company’s stock, valued at approximately $1,350,000.

A number of other institutional investors have also made changes to their positions in the business. BlackRock Inc. raised its stake in Lam Research by 0.9% during the 2nd quarter. BlackRock Inc. now owns 11,252,078 shares of the semiconductor company’s stock valued at $1,944,921,000 after acquiring an additional 102,790 shares in the last quarter. Janus Henderson Group PLC raised its stake in Lam Research by 4.4% during the 2nd quarter. Janus Henderson Group PLC now owns 5,503,855 shares of the semiconductor company’s stock valued at $951,341,000 after acquiring an additional 231,609 shares in the last quarter. FMR LLC raised its stake in Lam Research by 51.9% during the 3rd quarter. FMR LLC now owns 3,538,138 shares of the semiconductor company’s stock valued at $536,736,000 after acquiring an additional 1,208,149 shares in the last quarter. LSV Asset Management raised its stake in Lam Research by 9.5% during the 3rd quarter. LSV Asset Management now owns 2,891,119 shares of the semiconductor company’s stock valued at $438,582,000 after acquiring an additional 249,745 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Lam Research by 1.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,254,126 shares of the semiconductor company’s stock valued at $341,950,000 after acquiring an additional 39,853 shares in the last quarter. 89.13% of the stock is currently owned by hedge funds and other institutional investors.

LRCX opened at $138.03 on Friday. Lam Research Co. has a one year low of $133.42 and a one year high of $234.88. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.00 and a current ratio of 2.66. The firm has a market capitalization of $23.23 billion, a PE ratio of 7.72, a PEG ratio of 0.87 and a beta of 1.36.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Tuesday, October 16th. The semiconductor company reported $3.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.22 by $0.14. The business had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Lam Research had a return on equity of 49.80% and a net margin of 21.26%. The company’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.46 EPS. On average, research analysts forecast that Lam Research Co. will post 14.37 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 26th. Investors of record on Wednesday, December 5th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Tuesday, December 4th. Lam Research’s payout ratio is 24.62%.

Several analysts have weighed in on the company. ValuEngine raised Lam Research from a “strong sell” rating to a “sell” rating in a research note on Wednesday, November 28th. B. Riley downgraded Lam Research from a “buy” rating to a “neutral” rating and cut their target price for the company from $225.00 to $160.00 in a research note on Monday, October 29th. Susquehanna Bancshares reissued a “neutral” rating and issued a $165.00 price objective (down previously from $225.00) on shares of Lam Research in a research note on Tuesday, October 23rd. UBS Group downgraded Lam Research from a “positive” rating to a “neutral” rating in a research note on Tuesday, October 23rd. Finally, Mizuho reissued a “hold” rating and issued a $165.00 price objective on shares of Lam Research in a research note on Wednesday, October 17th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $224.22.

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Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

Further Reading: Average Daily Trade Volume Explained

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

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