Geode Capital Management LLC Buys 64,053 Shares of Lam Research Co. (NASDAQ:LRCX)

Geode Capital Management LLC increased its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,120,511 shares of the semiconductor company's stock after purchasing an additional 64,053 shares during the quarter. Geode Capital Management LLC owned about 0.24% of Lam Research worth $2,539,413,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of LRCX. Jennison Associates LLC raised its holdings in Lam Research by 20.0% during the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company's stock worth $194,451,000 after purchasing an additional 39,725 shares during the last quarter. Creative Planning raised its stake in shares of Lam Research by 2.5% during the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company's stock worth $38,664,000 after buying an additional 1,146 shares during the last quarter. Vest Financial LLC lifted its holdings in Lam Research by 68.7% in the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company's stock valued at $29,372,000 after buying an additional 14,658 shares during the period. Worldquant Millennium Advisors LLC boosted its stake in Lam Research by 51.9% in the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company's stock valued at $175,800,000 after acquiring an additional 73,648 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in Lam Research by 9.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company's stock worth $278,165,000 after acquiring an additional 28,089 shares during the period. Institutional investors own 84.61% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on LRCX. Needham & Company LLC restated a "buy" rating and issued a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. Mizuho lowered their price target on Lam Research from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Friday, September 20th. Sanford C. Bernstein reduced their price objective on shares of Lam Research from $95.00 to $85.00 and set a "market perform" rating on the stock in a research note on Friday, November 29th. Citigroup lowered their target price on shares of Lam Research from $99.00 to $89.30 and set a "buy" rating for the company in a research note on Monday, September 16th. Finally, Morgan Stanley boosted their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $97.24.

Lam Research Stock Performance

Lam Research stock traded down $2.32 during trading hours on Tuesday, hitting $75.13. The company had a trading volume of 10,580,489 shares, compared to its average volume of 11,244,075. The firm has a 50-day moving average of $76.15 and a 200 day moving average of $85.92. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The firm has a market cap of $96.67 billion, a PE ratio of 24.28, a PEG ratio of 1.22 and a beta of 1.46. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.05. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company's revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the prior year, the firm posted $6.85 EPS. On average, sell-side analysts expect that Lam Research Co. will post 3.5 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.22%. Lam Research's payout ratio is presently 29.74%.

Insider Transactions at Lam Research

In related news, CAO Christina Correia sold 647 shares of the company's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now owns 4,267 shares of the company's stock, valued at $3,488,315.17. This represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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.