Syon Capital LLC Buys 13,508 Shares of Lam Research Co. (NASDAQ:LRCX)

Syon Capital LLC lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 857.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,084 shares of the semiconductor company's stock after purchasing an additional 13,508 shares during the quarter. Syon Capital LLC's holdings in Lam Research were worth $1,090,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LRCX. Vanguard Group Inc. raised its holdings in shares of Lam Research by 892.7% in the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock worth $8,724,498,000 after acquiring an additional 108,619,564 shares during the last quarter. FMR LLC increased its holdings in Lam Research by 1,032.6% during the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock worth $2,891,453,000 after purchasing an additional 36,496,689 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Lam Research by 907.1% in the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock worth $2,265,610,000 after purchasing an additional 28,307,499 shares during the last quarter. Norges Bank bought a new position in shares of Lam Research in the fourth quarter valued at approximately $1,661,672,000. Finally, Fisher Asset Management LLC lifted its holdings 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 valued at $1,341,902,000 after purchasing an additional 16,706,708 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LRCX. KeyCorp raised Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price target for the company in a research report on Friday, January 17th. TD Securities lowered their target price on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday. Bank of America dropped their price target on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. The Goldman Sachs Group reduced their price objective on shares of Lam Research from $96.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Finally, Needham & Company LLC dropped their target price on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday. Six analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.70.

Lam Research Stock Performance

Shares of LRCX stock traded up $0.52 during trading on Friday, reaching $71.42. 9,749,642 shares of the company's stock traded hands, compared to its average volume of 12,130,700. The firm's 50-day moving average is $73.15 and its 200 day moving average is $75.43. The company has a market capitalization of $91.68 billion, a P/E ratio of 21.70, a PEG ratio of 1.47 and a beta of 1.52. Lam Research Co. has a 1 year low of $56.32 and a 1 year high of $113.00. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. The firm had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Equities research analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research's payout ratio is 25.63%.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares in the company, 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 filing with the SEC, which is accessible through the SEC website. 0.29% of the stock is owned by company 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.