D1 Capital Partners L.P. Makes New $30.19 Million Investment in Lam Research Co. (NASDAQ:LRCX)

D1 Capital Partners L.P. bought a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 418,000 shares of the semiconductor company's stock, valued at approximately $30,192,000.

A number of other institutional investors have also made changes to their positions in the stock. Evercore Wealth Management LLC purchased a new stake in Lam Research in the fourth quarter valued at approximately $380,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of Lam Research by 893.2% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,381,120 shares of the semiconductor company's stock valued at $99,758,000 after buying an additional 1,242,064 shares during the period. Syon Capital LLC grew its holdings in Lam Research by 857.1% during the 4th quarter. Syon Capital LLC now owns 15,084 shares of the semiconductor company's stock worth $1,090,000 after acquiring an additional 13,508 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in shares of Lam Research by 1,361.1% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 175,765 shares of the semiconductor company's stock worth $12,696,000 after purchasing an additional 163,735 shares in the last quarter. Finally, Oxford Wealth Group LLC increased its holdings in shares of Lam Research by 1,348.5% in the 4th quarter. Oxford Wealth Group LLC now owns 5,142 shares of the semiconductor company's stock valued at $371,000 after acquiring an additional 4,787 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Stock Performance

NASDAQ LRCX traded up $0.52 during trading hours on Friday, hitting $71.42. 9,749,642 shares of the stock were exchanged, compared to its average volume of 12,130,700. 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 company has a market cap of $91.68 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth 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 stock has a 50-day moving average of $73.15 and a 200 day moving average of $75.43.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued 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. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. As a group, equities research analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LRCX shares. UBS Group reduced their price objective on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Cantor Fitzgerald restated an "overweight" rating and issued a $90.00 price objective on shares of Lam Research in a research note on Thursday. Sanford C. Bernstein raised Lam Research from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Stifel Nicolaus reduced their target price on Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Finally, Barclays dropped their price target on Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Six research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.70.

Insider Transactions at Lam Research

In related 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 sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.29% of the company's stock.

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.