Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Blue Whale Capital LLP

Blue Whale Capital LLP increased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 1,991.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,060,945 shares of the semiconductor company’s stock after purchasing an additional 1,962,386 shares during the quarter. Lam Research comprises about 11.1% of Blue Whale Capital LLP’s holdings, making the stock its 2nd largest position. Blue Whale Capital LLP’s holdings in Lam Research were worth $148,862,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in LRCX. Zacks Investment Management boosted its position in shares of Lam Research by 150.7% during the 3rd quarter. Zacks Investment Management now owns 1,336 shares of the semiconductor company’s stock worth $1,091,000 after purchasing an additional 803 shares during the period. XTX Topco Ltd grew its stake in shares of Lam Research by 111.9% in the third quarter. XTX Topco Ltd now owns 1,388 shares of the semiconductor company’s stock valued at $1,133,000 after buying an additional 733 shares in the last quarter. Main Management ETF Advisors LLC purchased a new stake in shares of Lam Research in the 3rd quarter valued at $633,000. Nomura Asset Management Co. Ltd. lifted its stake in Lam Research by 67.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 189,728 shares of the semiconductor company’s stock worth $154,833,000 after acquiring an additional 76,752 shares in the last quarter. Finally, Groupama Asset Managment grew its position in Lam Research by 7.8% in the 3rd quarter. Groupama Asset Managment now owns 24,921 shares of the semiconductor company’s stock valued at $203,000 after acquiring an additional 1,810 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Oppenheimer assumed coverage on shares of Lam Research in a research report on Thursday, March 20th. They set an “outperform” rating and a $95.00 price target on the stock. Jefferies Financial Group upped their price objective on Lam Research from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, March 28th. Mizuho lifted their price objective on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of Lam Research in a report on Thursday, January 30th. Finally, KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research note on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.59.

Lam Research Stock Down 9.4 %

Shares of Lam Research stock opened at $59.09 on Monday. The company has a market cap of $75.85 billion, a P/E ratio of 17.95, a PEG ratio of 1.47 and a beta of 1.52. Lam Research Co. has a one year low of $56.89 and a one year high of $113.00. The firm has a fifty day moving average of $78.26 and a two-hundred day moving average of $77.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

Lam Research (NASDAQ:LRCX) last issued 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 return on equity of 51.86% and a net margin of 26.49%. On average, analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

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

Insiders Place Their Bets

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. 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.