Oxford Asset Management LLP Makes New Investment in Lam Research Co. (NASDAQ:LRCX)

Oxford Asset Management LLP acquired a new stake in Lam Research Co. (NASDAQ:LRCX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,263 shares of the semiconductor company's stock, valued at approximately $452,000.

Several other hedge funds and other institutional investors have also made changes to their positions in LRCX. Johnson Financial Group Inc. raised its holdings in Lam Research by 768.8% during the fourth quarter. Johnson Financial Group Inc. now owns 59,524 shares of the semiconductor company's stock worth $4,299,000 after purchasing an additional 52,673 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in shares of Lam Research in the 4th quarter valued at $273,000. Coldstream Capital Management Inc. raised its stake in Lam Research by 725.2% during the 4th quarter. Coldstream Capital Management Inc. now owns 79,404 shares of the semiconductor company's stock worth $5,735,000 after acquiring an additional 69,782 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in Lam Research by 900.2% in the fourth quarter. Lord Abbett & CO. LLC now owns 634,745 shares of the semiconductor company's stock valued at $45,848,000 after acquiring an additional 571,284 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its stake in Lam Research by 4,519.1% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,398,515 shares of the semiconductor company's stock valued at $101,015,000 after acquiring an additional 1,368,238 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on LRCX shares. Morgan Stanley lifted their target price on Lam Research from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Thursday. Needham & Company LLC cut their price target on Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday. Jefferies Financial Group increased their price objective on Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a report on Friday, March 28th. Oppenheimer cut their target price on shares of Lam Research from $95.00 to $80.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Finally, Wolfe Research cut shares of Lam Research from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, Lam Research currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.70.

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the company'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 value of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares of the company's stock, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company's stock.

Lam Research Stock Performance

Shares of LRCX opened at $71.42 on Friday. The company has a market capitalization of $91.68 billion, a PE ratio of 21.70, a P/E/G ratio of 1.47 and a beta of 1.52. Lam Research Co. has a 52-week low of $56.32 and a 52-week high of $113.00. The company has a 50-day simple moving average of $73.15 and a 200-day simple moving average of $75.43. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

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

Lam Research Dividend Announcement

The company 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 1.29%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research's dividend payout ratio is currently 25.63%.

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.

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