Alliancebernstein L.P. Purchases 2,888,553 Shares of Lam Research Co. (NASDAQ:LRCX)

Alliancebernstein L.P. lifted its holdings in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 1,017.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,172,369 shares of the semiconductor company's stock after buying an additional 2,888,553 shares during the period. Alliancebernstein L.P. owned 0.25% of Lam Research worth $229,140,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of LRCX. Bedell Frazier Investment Counselling LLC grew its stake in Lam Research by 785.8% during the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 13,810 shares of the semiconductor company's stock worth $997,000 after buying an additional 12,251 shares during the last quarter. C M Bidwell & Associates Ltd. grew its position in shares of Lam Research by 867.3% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 2,960 shares of the semiconductor company's stock worth $214,000 after acquiring an additional 2,654 shares during the last quarter. Meeder Asset Management Inc. grew its position in shares of Lam Research by 398.9% during the fourth quarter. Meeder Asset Management Inc. now owns 14,343 shares of the semiconductor company's stock worth $1,036,000 after acquiring an additional 11,468 shares during the last quarter. Boxwood Ventures Inc. acquired a new stake in shares of Lam Research in the 4th quarter worth about $869,000. Finally, AIA Group Ltd lifted its position in Lam Research by 911.2% in the 4th quarter. AIA Group Ltd now owns 5,329 shares of the semiconductor company's stock valued at $385,000 after purchasing an additional 4,802 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

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Insider Buying and Selling at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction on 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 transaction, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company's stock.

Lam Research Stock Up 1.3 %

Shares of LRCX traded up $0.95 during trading hours on Wednesday, reaching $73.78. The company's stock had a trading volume of 7,606,426 shares, compared to its average volume of 11,711,904. The company has a 50 day moving average of $78.99 and a two-hundred day moving average of $77.28. 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 firm has a market cap of $94.71 billion, a price-to-earnings ratio of 22.41, a P/E/G ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, research analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.25%. Lam Research's payout ratio is 27.96%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LRCX. The Goldman Sachs Group cut their price target on Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Mizuho increased their target price on shares of Lam Research from $87.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Susquehanna raised shares of Lam Research from a "neutral" rating to a "positive" rating and upped their price target for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. KeyCorp upgraded shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price objective on the stock in a research note on Friday, January 17th. Finally, Sanford C. Bernstein upgraded 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 research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Lam Research has a consensus rating of "Moderate Buy" and a consensus target price of $97.59.

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.