Legal & General Group Plc Acquires 9,051,527 Shares of Lam Research Co. (NASDAQ:LRCX)

Legal & General Group Plc raised its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 653.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 10,437,073 shares of the semiconductor company's stock after acquiring an additional 9,051,527 shares during the period. Legal & General Group Plc owned approximately 0.81% of Lam Research worth $753,870,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of LRCX. Parisi Gray Wealth Management lifted its holdings in shares of Lam Research by 652.9% in the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company's stock valued at $603,000 after purchasing an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY purchased a new position in Lam Research during the 4th quarter worth $815,000. Centerpoint Advisors LLC grew its stake in shares of Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock worth $72,000 after acquiring an additional 900 shares in the last quarter. Transform Wealth LLC purchased a new stake in shares of Lam Research in the fourth quarter valued at about $17,269,000. Finally, E. Ohman J or Asset Management AB bought a new position in shares of Lam Research during the fourth quarter valued at about $4,258,000. Institutional investors own 84.61% of the company's stock.

Insider Activity at Lam Research

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 stock was 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 directly owns 179,084 shares in the company, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by insiders.

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Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of Lam Research from $82.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 30th. The Goldman Sachs Group reduced their price objective on Lam Research from $96.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Jefferies Financial Group lifted their target price on Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Needham & Company LLC restated a "buy" rating and set a $90.00 price target on shares of Lam Research in a research report on Thursday, January 30th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $100.00 target price on shares of Lam Research in a research note on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Lam Research presently has a consensus rating of "Moderate Buy" and an average price target of $96.87.

Lam Research Price Performance

LRCX traded up $1.05 on Friday, reaching $67.48. The company had a trading volume of 14,704,156 shares, compared to its average volume of 12,144,348. Lam Research Co. has a 52-week low of $56.32 and a 52-week high of $113.00. The company has a market cap of $86.62 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 1.47 and a beta of 1.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The business has a 50 day simple moving average of $76.49 and a 200 day simple moving average of $76.49.

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 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%. As a group, sell-side analysts anticipate that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.36%. Lam Research's dividend payout ratio (DPR) is 27.96%.

Lam Research Company 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.