358,765 Shares in Lam Research Co. (NASDAQ:LRCX) Acquired by Freestone Grove Partners LP

Freestone Grove Partners LP purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 358,765 shares of the semiconductor company's stock, valued at approximately $25,914,000.

A number of other large investors also recently bought and sold shares of LRCX. Rehmann Capital Advisory Group boosted its holdings in Lam Research by 893.9% in the fourth quarter. Rehmann Capital Advisory Group now owns 8,428 shares of the semiconductor company's stock valued at $609,000 after acquiring an additional 7,580 shares during the last quarter. Becker Capital Management Inc. lifted its stake in shares of Lam Research by 904.9% in the 4th quarter. Becker Capital Management Inc. now owns 8,280 shares of the semiconductor company's stock valued at $600,000 after purchasing an additional 7,456 shares in the last quarter. Voleon Capital Management LP purchased a new stake in shares of Lam Research during the 4th quarter worth about $8,995,000. Utah Retirement Systems increased its position in Lam Research by 887.5% during the 4th quarter. Utah Retirement Systems now owns 213,170 shares of the semiconductor company's stock worth $15,397,000 after purchasing an additional 191,583 shares in the last quarter. Finally, PDT Partners LLC increased its position in Lam Research by 894.5% during the 4th quarter. PDT Partners LLC now owns 52,720 shares of the semiconductor company's stock worth $3,808,000 after purchasing an additional 47,419 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LRCX shares. B. Riley reiterated a "buy" rating on shares of Lam Research in a research note on Thursday, April 24th. UBS Group decreased their price target on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Mizuho raised their price objective on Lam Research from $87.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Argus raised Lam Research to a "strong-buy" rating in a research report on Friday, April 25th. Finally, TD Securities dropped their target price on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Lam Research presently has a consensus rating of "Moderate Buy" and an average target price of $91.56.

Insiders Place Their Bets

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 value of $9,907,200.00. Following the transaction, the senior vice president now owns 179,084 shares of the company's stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by corporate insiders.

Lam Research Price Performance

Shares of LRCX stock opened at $71.73 on Friday. The firm has a fifty day moving average of $71.95 and a two-hundred day moving average of $75.15. The firm has a market cap of $91.75 billion, a P/E ratio of 21.79, a P/E/G ratio of 1.47 and a beta of 1.52. Lam Research Co. has a 1-year low of $56.32 and a 1-year high of $113.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the firm earned $7.79 earnings per share. The company's revenue for the quarter was up 24.4% compared to the same quarter last year. As a group, research analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.28%. The ex-dividend date was Wednesday, March 5th. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

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.

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