Franklin Resources Inc. Buys Shares of 6,269,236 Lam Research Co. (NASDAQ:LRCX)

Franklin Resources Inc. purchased a new stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 6,269,236 shares of the semiconductor company's stock, valued at approximately $452,827,000. Franklin Resources Inc. owned 0.49% of Lam Research at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of LRCX. Vanguard Group Inc. lifted its position in shares of Lam Research by 892.7% during the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock valued at $8,724,498,000 after buying an additional 108,619,564 shares in the last quarter. Norges Bank bought a new position in shares of Lam Research in the fourth quarter worth approximately $1,661,672,000. Fisher Asset Management LLC boosted its position in shares of Lam Research by 892.7% in the fourth quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company's stock worth $1,341,902,000 after purchasing an additional 16,706,708 shares during the period. Amundi raised its position in shares of Lam Research by 7,601.9% during the 4th quarter. Amundi now owns 12,945,172 shares of the semiconductor company's stock valued at $990,464,000 after purchasing an additional 12,777,094 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Lam Research by 860.4% during the 4th quarter. Bank of New York Mellon Corp now owns 11,786,808 shares of the semiconductor company's stock valued at $851,361,000 after buying an additional 10,559,508 shares in the last quarter. Institutional investors own 84.61% of the company's stock.

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Insider Transactions at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was 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 directly owns 179,084 shares in the company, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.29% of the company's stock.

Lam Research Trading Down 9.4 %

Lam Research stock traded down $6.13 during midday trading on Friday, reaching $59.09. The stock had a trading volume of 26,238,929 shares, compared to its average volume of 11,840,267. 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 $75.85 billion, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 52-week low of $57.97 and a 52-week high of $113.00. The company has a fifty day moving average of $78.26 and a 200 day moving average of $77.07.

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

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research's dividend payout ratio is currently 27.96%.

Analyst Ratings Changes

LRCX has been the topic of a number of recent analyst reports. KeyCorp raised Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price target on the stock in a report on Friday, January 17th. Wolfe Research downgraded Lam Research from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 15th. Jefferies Financial Group lifted their price objective on shares of Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, March 28th. Cantor Fitzgerald restated an "overweight" rating and set a $100.00 target price on shares of Lam Research in a research report on Tuesday, February 18th. Finally, Susquehanna upgraded shares of Lam Research from a "neutral" rating to a "positive" rating and boosted their price target for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Lam Research currently has a consensus rating of "Moderate Buy" and an average 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.