Quantessence Capital LLC Invests $3.03 Million in Lam Research Co. (NASDAQ:LRCX)

Quantessence Capital LLC purchased a new position in Lam Research Co. (NASDAQ:LRCX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 41,953 shares of the semiconductor company's stock, valued at approximately $3,030,000. Lam Research makes up approximately 1.2% of Quantessence Capital LLC's portfolio, making the stock its 19th largest holding.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Lam Research by 892.7% during 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 purchasing an additional 108,619,564 shares during the last quarter. FMR LLC raised its stake in Lam Research by 1,032.6% in the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock valued at $2,891,453,000 after buying an additional 36,496,689 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Lam Research by 907.1% in the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock worth $2,265,610,000 after acquiring an additional 28,307,499 shares in the last quarter. Norges Bank acquired a new stake in Lam Research in the fourth quarter worth about $1,661,672,000. Finally, Fisher Asset Management LLC grew 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 worth $1,341,902,000 after acquiring an additional 16,706,708 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the company'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 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 represents a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is owned by company insiders.

Lam Research Price Performance

LRCX traded up $0.52 during trading on Friday, hitting $71.42. The company's stock had a trading volume of 9,749,642 shares, compared to its average volume of 12,138,054. The firm has a market capitalization of $91.68 billion, a price-to-earnings ratio of 21.70, a P/E/G ratio of 1.47 and a beta of 1.52. Lam Research Co. has a twelve month low of $56.32 and a twelve month high of $113.00. The business's fifty day simple moving average is $73.45 and its 200 day simple moving average is $75.55. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX - Get Free Report) last released 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 firm had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, equities research analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research's payout ratio is 27.96%.

Analysts Set New Price Targets

A number of analysts recently commented on LRCX shares. Sanford C. Bernstein upgraded shares of Lam Research from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Mizuho boosted their price objective on shares of Lam Research from $87.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Stifel Nicolaus reduced their target price on Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Morgan Stanley boosted their price target on Lam Research from $81.00 to $82.00 and gave the company an "equal weight" rating in a research note on Thursday. Finally, Wolfe Research cut 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 twenty have given a buy rating to the stock. According to MarketBeat.com, Lam Research currently has an average rating of "Moderate Buy" and an average price target of $92.80.

Lam Research 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.