Massachusetts Financial Services Co. MA Purchases 5,109,310 Shares of Lam Research Co. (NASDAQ:LRCX)

Massachusetts Financial Services Co. MA boosted its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 522.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 6,088,085 shares of the semiconductor company's stock after purchasing an additional 5,109,310 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.47% of Lam Research worth $439,742,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of LRCX. West Oak Capital LLC grew its position in Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 135 shares during the period. IHT Wealth Management LLC lifted its stake in shares of Lam Research by 5.7% during the 3rd quarter. IHT Wealth Management LLC now owns 2,729 shares of the semiconductor company's stock valued at $2,216,000 after buying an additional 147 shares in the last quarter. Stevens Capital Management LP increased its stake in Lam Research by 112.4% in the 3rd quarter. Stevens Capital Management LP now owns 427 shares of the semiconductor company's stock worth $348,000 after buying an additional 226 shares in the last quarter. Rench Wealth Management Inc. lifted its position in shares of Lam Research by 3.1% in the third quarter. Rench Wealth Management Inc. now owns 7,922 shares of the semiconductor company's stock valued at $6,465,000 after acquiring an additional 237 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc boosted its stake in Lam Research by 2.6% in the 3rd quarter. Texas Capital Bank Wealth Management Services Inc now owns 9,911 shares of the semiconductor company's stock worth $8,088,000 after purchasing an additional 255 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

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Lam Research Trading Up 3.4 %

LRCX traded up $2.00 during midday trading on Monday, reaching $61.09. 11,216,953 shares of the company's stock traded hands, compared to its average volume of 11,839,921. The stock has a market capitalization of $78.42 billion, a price-to-earnings ratio of 18.42, a P/E/G ratio of 1.47 and a beta of 1.52. The firm has a fifty day moving average of $78.26 and a two-hundred day moving average of $77.08. Lam Research Co. has a 52 week low of $56.49 and a 52 week 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.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share 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, equities analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research's dividend payout ratio (DPR) is currently 27.96%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Needham & Company LLC restated a "buy" rating and set a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. Sanford C. Bernstein raised Lam Research from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. 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. KeyCorp raised Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price objective on the stock in a report on Friday, January 17th. Finally, Wolfe Research downgraded Lam Research from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 15th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $97.59.

Insiders Place Their Bets

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 directly owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by company 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.