Fmr LLC Purchases 36,496,689 Shares of Lam Research Co. (NASDAQ:LRCX)

Fmr LLC grew its stake in Lam Research Co. (NASDAQ:LRCX) by 1,032.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,031,194 shares of the semiconductor company’s stock after buying an additional 36,496,689 shares during the period. Fmr LLC’s holdings in Lam Research were worth $2,891,453,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Perspectives Inc boosted its position in shares of Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 309 shares in the last quarter. Fairway Wealth LLC grew its holdings in shares of 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 buying an additional 306 shares during the last quarter. Atwood & Palmer Inc. purchased a new stake in shares of Lam Research in the fourth quarter worth approximately $27,000. Midwest Capital Advisors LLC purchased a new position in Lam Research during the 4th quarter worth $27,000. Finally, Bell Investment Advisors Inc increased its stake in Lam Research by 836.6% in the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 343 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Trading Down 9.4 %

Shares of LRCX stock opened at $59.09 on Friday. The stock has a market cap of $75.85 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 1.47 and a beta of 1.52. 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 company’s 50-day moving average price is $78.26 and its 200-day moving average price is $77.07. Lam Research Co. has a twelve month low of $57.97 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX) last released its 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 net margin of 26.49% and a return on equity of 51.86%. As a group, equities analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.96%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LRCX shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $100.00 target price on shares of Lam Research in a research note on Tuesday, February 18th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Jefferies Financial Group lifted their price objective on shares of Lam Research from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, March 28th. Finally, Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and lifted their price target for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.59.

Insider Buying and Selling

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.29% of the company’s stock.

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.