Vanguard Group Inc. Grows Position in Lam Research Co. (NASDAQ:LRCX)

Vanguard Group Inc. boosted its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 892.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 120,787,727 shares of the semiconductor company's stock after acquiring an additional 108,619,564 shares during the period. Vanguard Group Inc. owned 9.41% of Lam Research worth $8,724,498,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Financial Perspectives Inc lifted its holdings in shares of Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 309 shares in the last quarter. Fairway Wealth LLC lifted its stake in shares of Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after buying an additional 306 shares in the last quarter. Atwood & Palmer Inc. acquired a new position in shares of Lam Research during the fourth quarter valued at about $27,000. Midwest Capital Advisors LLC bought a new stake in shares of Lam Research during the fourth quarter worth about $27,000. Finally, Bell Investment Advisors Inc raised its holdings in shares of Lam Research by 836.6% in the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 343 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

LRCX has been the subject of a number of analyst reports. Oppenheimer began coverage on Lam Research in a research note on Thursday, March 20th. They set an "outperform" rating and a $95.00 price target for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $100.00 target price on shares of Lam Research in a research report on Tuesday, February 18th. Mizuho increased their price target on Lam Research from $87.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Morgan Stanley lifted their price objective on shares of Lam Research from $76.00 to $78.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. Finally, Susquehanna upgraded shares of Lam Research from a "neutral" rating to a "positive" rating and increased their target price for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, Lam Research has a consensus rating of "Moderate Buy" and an average price target of $98.06.

Remove Ads

Lam Research Stock Performance

Lam Research stock traded down $0.32 during midday trading on Tuesday, reaching $77.67. The stock had a trading volume of 6,436,453 shares, compared to its average volume of 11,069,593. 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 capitalization of $99.70 billion, a PE ratio of 23.59, a P/E/G ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The firm's 50-day moving average price is $79.70 and its 200 day moving average price is $77.30.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, research analysts predict that Lam Research Co. will post 3.71 earnings per share 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 paid 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 dividend yield of 1.18%. Lam Research's payout ratio is 27.96%.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the company'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 transaction of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares of the company's stock, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by insiders.

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.