Geode Capital Management LLC Boosts Position in Lam Research Co. (NASDAQ:LRCX)

Geode Capital Management LLC grew its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 907.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,428,010 shares of the semiconductor company's stock after purchasing an additional 28,307,499 shares during the period. Geode Capital Management LLC owned about 2.45% of Lam Research worth $2,265,610,000 at the end of the most recent quarter.

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

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Lam Research Stock Up 1.3 %

Lam Research stock traded up $0.95 during mid-day trading on Wednesday, reaching $73.78. The stock had a trading volume of 7,606,426 shares, compared to its average volume of 11,711,904. 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 fifty-two week low of $68.87 and a fifty-two week high of $113.00. The stock's 50-day simple moving average is $78.99 and its 200-day simple moving average is $77.28. The firm has a market capitalization of $94.71 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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, sell-side analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

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

Insiders Place Their Bets

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now directly owns 179,084 shares of the company's stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Mizuho lifted their price objective on Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Oppenheimer started coverage on Lam Research in a report on Thursday, March 20th. They set an "outperform" rating and a $95.00 price objective on the stock. Jefferies Financial Group boosted 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. Wells Fargo & Company lifted their price target on Lam Research from $82.00 to $85.00 and gave the company an "equal weight" rating in a research note on Thursday, January 30th. Finally, Barclays lowered their price objective on shares of Lam Research from $90.00 to $75.00 and set an "equal weight" rating on the stock in a report on Friday, January 17th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, Lam Research has a consensus rating of "Moderate Buy" and a consensus price target of $97.59.

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.