Adage Capital Partners GP L.L.C. Boosts Position in Lam Research Co. (NASDAQ:LRCX)

Adage Capital Partners GP L.L.C. grew its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 893.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,381,120 shares of the semiconductor company's stock after buying an additional 1,242,064 shares during the period. Adage Capital Partners GP L.L.C. owned 0.11% of Lam Research worth $99,758,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Syon Capital LLC grew its position in Lam Research by 857.1% in the 4th quarter. Syon Capital LLC now owns 15,084 shares of the semiconductor company's stock valued at $1,090,000 after buying an additional 13,508 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Lam Research by 1,361.1% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 175,765 shares of the semiconductor company's stock valued at $12,696,000 after acquiring an additional 163,735 shares in the last quarter. Oxford Wealth Group LLC increased its stake in shares of Lam Research by 1,348.5% during the fourth quarter. Oxford Wealth Group LLC now owns 5,142 shares of the semiconductor company's stock worth $371,000 after acquiring an additional 4,787 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in Lam Research by 1,370.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 147,280 shares of the semiconductor company's stock worth $10,639,000 after purchasing an additional 137,262 shares in the last quarter. Finally, MGO One Seven LLC acquired a new stake in Lam Research in the fourth quarter valued at about $1,144,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Trading Up 0.7 %

NASDAQ:LRCX traded up $0.52 on Friday, reaching $71.42. The stock had a trading volume of 9,749,642 shares, compared to its average volume of 12,130,700. The company has a market cap of $91.68 billion, a price-to-earnings ratio of 21.70, a P/E/G ratio of 1.47 and a beta of 1.52. Lam Research Co. has a 12-month low of $56.32 and a 12-month high of $113.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The firm's fifty day moving average is $73.15 and its two-hundred day moving average is $75.43.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. The firm had revenue of $4.72 billion for 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%. Equities analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were paid a $0.23 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.29%. Lam Research's payout ratio is currently 25.63%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on LRCX shares. Bank of America cut their target price on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. TD Cowen cut their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday. Susquehanna upgraded shares of Lam Research from a "neutral" rating to a "positive" rating and boosted their target price for the stock from $75.00 to $125.00 in a research report on Thursday, February 20th. The Goldman Sachs Group cut their price target on shares of Lam Research from $96.00 to $85.00 and set a "buy" rating for the company in a report on Friday, January 10th. Finally, Sanford C. Bernstein upgraded shares of Lam Research from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $92.70.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction on 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 owns 179,084 shares in the company, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by company insiders.

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.