Lam Research Co. (NASDAQ:LRCX) Shares Purchased by First Trust Advisors LP

First Trust Advisors LP boosted its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 902.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,069,678 shares of the semiconductor company's stock after buying an additional 5,464,143 shares during the quarter. First Trust Advisors LP owned 0.47% of Lam Research worth $438,413,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in LRCX. Parisi Gray Wealth Management increased its position in Lam Research by 652.9% during the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company's stock valued at $603,000 after purchasing an additional 7,241 shares during the period. Burns J W & Co. Inc. NY bought a new stake in shares of Lam Research in the 4th quarter valued at about $815,000. Centerpoint Advisors LLC grew its position in shares of Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock worth $72,000 after buying an additional 900 shares during the last quarter. Transform Wealth LLC bought a new position in shares of Lam Research during the 4th quarter worth approximately $17,269,000. Finally, E. Ohman J or Asset Management AB purchased a new stake in Lam Research during the fourth quarter valued at approximately $4,258,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research Price Performance

Shares of Lam Research stock traded up $4.25 on Thursday, hitting $70.98. The company's stock had a trading volume of 10,637,223 shares, compared to its average volume of 12,151,614. The company has a market capitalization of $91.11 billion, a price-to-earnings ratio of 21.59, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52. The firm has a fifty day moving average price of $73.69 and a 200-day moving average price of $75.62. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. Lam Research Co. has a 1 year low of $56.32 and a 1 year high of $113.00.

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 for the quarter, topping the consensus estimate 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, sell-side analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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

Wall Street Analyst Weigh In

LRCX has been the subject of a number of recent analyst reports. TD Cowen lowered 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. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $90.00 price objective on shares of Lam Research in a research report on Thursday. Bank of America dropped their target price on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Stifel Nicolaus lowered their price objective on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Finally, B. Riley restated a "buy" rating on shares of Lam Research in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and twenty have assigned 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 $93.23.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.29% of the company's stock.

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.