OMERS ADMINISTRATION Corp Has $5.51 Million Holdings in Lam Research Co. (NASDAQ:LRCX)

OMERS ADMINISTRATION Corp increased its position in Lam Research Co. (NASDAQ:LRCX) by 933.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 76,294 shares of the semiconductor company’s stock after acquiring an additional 68,910 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Lam Research were worth $5,511,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in LRCX. Financial Perspectives Inc increased its holdings in shares of Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 309 shares during the last quarter. Fairway Wealth LLC grew its holdings in Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 306 shares during the last quarter. Atwood & Palmer Inc. acquired a new position in Lam Research during the fourth quarter valued at approximately $27,000. Midwest Capital Advisors LLC acquired a new position in Lam Research during the fourth quarter valued at approximately $27,000. Finally, West Paces Advisors Inc. acquired a new position in Lam Research during the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on LRCX. Morgan Stanley raised their target price on shares of Lam Research from $81.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price target on shares of Lam Research in a research report on Thursday, April 24th. Oppenheimer lowered their price target on Lam Research from $95.00 to $80.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Bank of America lowered their price target on Lam Research from $110.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Finally, Stifel Nicolaus lowered their target price on Lam Research from $100.00 to $92.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average price target of $91.56.

Lam Research Stock Up 3.6%

NASDAQ LRCX opened at $85.25 on Wednesday. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The stock’s 50 day moving average is $71.79 and its two-hundred day moving average is $75.29. The company has a market capitalization of $109.04 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 1.47 and a beta of 1.64. Lam Research Co. has a 1-year low of $56.32 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Lam Research’s quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $7.79 EPS. Equities analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Insider Activity

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. The trade was a 38.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is owned by corporate insiders.

Lam Research Profile

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.