Lam Research Co. (NASDAQ:LRCX) Stock Position Increased by Phoenix Financial Ltd.

Phoenix Financial Ltd. raised its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 4,569.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,903 shares of the semiconductor company's stock after purchasing an additional 16,541 shares during the quarter. Phoenix Financial Ltd.'s holdings in Lam Research were worth $1,222,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted 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 valued at $8,724,498,000 after buying an additional 108,619,564 shares in the last quarter. FMR LLC boosted its holdings in Lam Research by 1,032.6% during the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock worth $2,891,453,000 after buying an additional 36,496,689 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Lam Research by 907.1% during the 4th 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 in the last quarter. Norges Bank purchased a new stake in shares of Lam Research in the fourth quarter valued at $1,661,672,000. Finally, Fisher Asset Management LLC lifted its stake in shares of Lam Research by 892.7% during 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 buying an additional 16,706,708 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

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Lam Research Stock Down 3.7 %

Shares of LRCX traded down $2.55 during midday trading on Wednesday, hitting $65.89. 4,357,569 shares of the company's stock traded hands, compared to its average volume of 12,126,589. The firm's fifty day moving average is $75.92 and its 200-day moving average is $76.24. 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. The stock has a market capitalization of $84.58 billion, a price-to-earnings ratio of 20.02, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping 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 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were issued a $0.23 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.40%. Lam Research's payout ratio is 27.96%.

Insider Activity

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's 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 sale, the senior vice president now directly owns 179,084 shares of the company's stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on LRCX shares. Wolfe Research downgraded shares of Lam Research from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 15th. Wells Fargo & Company increased their price objective on Lam Research from $82.00 to $85.00 and gave the stock an "equal weight" rating in a report on Thursday, January 30th. Barclays cut 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. UBS Group cut their target price on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Oppenheimer lowered their price target on Lam Research from $95.00 to $80.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Six analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, Lam Research currently has an average rating of "Moderate Buy" and an average price target of $95.06.

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.