Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Prudential Financial Inc.

Prudential Financial Inc. increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 1,198.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,103,049 shares of the semiconductor company's stock after acquiring an additional 1,941,078 shares during the period. Prudential Financial Inc. owned approximately 0.16% of Lam Research worth $151,903,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Interchange Capital Partners LLC increased its stake in Lam Research by 906.0% in the 4th quarter. Interchange Capital Partners LLC now owns 5,070 shares of the semiconductor company's stock valued at $366,000 after purchasing an additional 4,566 shares in the last quarter. Corebridge Financial Inc. raised its stake in shares of Lam Research by 836.5% during the 4th quarter. Corebridge Financial Inc. now owns 413,073 shares of the semiconductor company's stock worth $29,836,000 after buying an additional 368,966 shares during the last quarter. United Services Automobile Association purchased a new stake in shares of Lam Research in the fourth quarter valued at about $2,178,000. Congress Wealth Management LLC DE increased its position in Lam Research by 1,079.6% during the fourth quarter. Congress Wealth Management LLC DE now owns 10,675 shares of the semiconductor company's stock worth $771,000 after buying an additional 9,770 shares in the last quarter. Finally, Mill Capital Management LLC increased its position in Lam Research by 900.0% during the 4th quarter. Mill Capital Management LLC now owns 40,000 shares of the semiconductor company's stock worth $2,889,000 after purchasing an additional 36,000 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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Lam Research Stock Down 0.4 %

Lam Research stock traded down $0.32 during midday trading on Tuesday, hitting $77.67. 6,436,759 shares of the stock were exchanged, compared to its average volume of 11,084,305. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The firm has a market cap of $99.70 billion, a P/E ratio of 23.59, a P/E/G ratio of 1.47 and a beta of 1.53. The company has a 50 day moving average price of $79.75 and a two-hundred day moving average price of $77.31.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS 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, sell-side 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 declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a $0.23 dividend. 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 dividend payout ratio (DPR) is presently 27.96%.

Insider Activity at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 179,084 shares of the company's stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on LRCX shares. The Goldman Sachs Group decreased their target price on shares of Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Wells Fargo & Company lifted their price objective on Lam Research from $82.00 to $85.00 and gave the company an "equal weight" rating in a research report on Thursday, January 30th. KeyCorp upgraded Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 target price for the company in a research note on Friday, January 17th. Susquehanna upgraded Lam Research from a "neutral" rating to a "positive" rating and lifted their price target for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $100.00 price objective on shares of Lam Research in a report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Lam Research presently has an average rating of "Moderate Buy" and an average price target of $98.06.

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.