Capital Research Global Investors Makes New Investment in Lam Research Co. (NASDAQ:LRCX)

Capital Research Global Investors acquired a new stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,334,118 shares of the semiconductor company's stock, valued at approximately $240,823,000. Capital Research Global Investors owned approximately 0.26% of Lam Research at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of LRCX. Vanguard Group Inc. boosted its stake in Lam Research by 892.7% in the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock worth $8,724,498,000 after purchasing an additional 108,619,564 shares during the period. FMR LLC boosted its position in shares of Lam Research by 1,032.6% in the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock worth $2,891,453,000 after buying an additional 36,496,689 shares during the period. Geode Capital Management LLC grew its holdings in shares of Lam Research by 907.1% during the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock valued at $2,265,610,000 after buying an additional 28,307,499 shares in the last quarter. Norges Bank acquired a new position in Lam Research during the fourth quarter valued at $1,661,672,000. Finally, Fisher Asset Management LLC boosted its position in Lam Research by 892.7% during the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company's stock worth $1,341,902,000 after acquiring an additional 16,706,708 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LRCX has been the topic of a number of research reports. Stifel Nicolaus dropped 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. The Goldman Sachs Group cut their target price on shares of Lam Research from $96.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Mizuho upped their price target on shares of Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Morgan Stanley lifted their price objective on Lam Research from $81.00 to $82.00 and gave the company an "equal weight" rating in a research report on Thursday. Finally, Sanford C. Bernstein raised Lam Research from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $92.80.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the sale, the senior vice president now directly owns 179,084 shares of the company's stock, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.29% of the company's stock.

Lam Research Stock Performance

LRCX traded up $4.17 during trading on Thursday, reaching $70.90. 18,139,554 shares of the company's stock were exchanged, compared to its average volume of 12,180,593. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The company has a market capitalization of $91.01 billion, a P/E ratio of 21.54, a PEG ratio of 1.47 and a beta of 1.52. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average price of $73.69 and a 200 day moving average price of $75.62.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. The firm had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.30%. The ex-dividend date was Wednesday, March 5th. Lam Research's dividend payout ratio is 27.96%.

Lam Research Company 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.