FIL Ltd Acquires 7,325,911 Shares of Lam Research Co. (NASDAQ:LRCX)

FIL Ltd boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 6,419.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,440,028 shares of the semiconductor company's stock after purchasing an additional 7,325,911 shares during the period. FIL Ltd owned approximately 0.58% of Lam Research worth $537,393,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. West Oak Capital LLC increased its holdings in Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 135 shares in the last quarter. Diversified Trust Co lifted its position in shares of Lam Research by 8.3% during the fourth quarter. Diversified Trust Co now owns 3,741 shares of the semiconductor company's stock worth $270,000 after purchasing an additional 286 shares during the last quarter. McLean Asset Management Corp grew its position in shares of Lam Research by 6.3% in the 4th quarter. McLean Asset Management Corp now owns 5,122 shares of the semiconductor company's stock worth $370,000 after acquiring an additional 302 shares in the last quarter. Fairway Wealth LLC increased its stake in Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 306 shares during the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC boosted its stake in Lam Research by 159.1% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company's stock valued at $36,000 after acquiring an additional 307 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

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Analyst Ratings Changes

Several equities analysts have recently issued reports on LRCX shares. Barclays reduced their price target on shares of Lam Research from $90.00 to $75.00 and set an "equal weight" rating for the company in a report on Friday, January 17th. Cantor Fitzgerald reissued an "overweight" rating and set a $100.00 target price on shares of Lam Research in a research note on Tuesday, February 18th. Mizuho lifted their price target on Lam Research from $87.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. The Goldman Sachs Group decreased their price objective on Lam Research from $96.00 to $85.00 and set a "buy" rating for the company in a report on Friday, January 10th. Finally, Sanford C. Bernstein raised shares of Lam Research from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Lam Research presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.87.

Lam Research Trading Up 1.6 %

Lam Research stock traded up $1.05 during midday trading on Friday, reaching $67.48. The stock had a trading volume of 14,704,156 shares, compared to its average volume of 12,144,348. Lam Research Co. has a twelve month low of $56.32 and a twelve month 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 $86.62 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 1.47 and a beta of 1.52. The firm's fifty day simple moving average is $76.49 and its two-hundred day simple moving average is $76.49.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its 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%. Equities analysts anticipate that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

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

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction 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 completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

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.