Alkeon Capital Management LLC Boosts Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Alkeon Capital Management LLC lifted its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 1,358.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,458,720 shares of the semiconductor company's stock after buying an additional 6,015,753 shares during the period. Lam Research makes up approximately 0.9% of Alkeon Capital Management LLC's holdings, making the stock its 14th largest holding. Alkeon Capital Management LLC owned about 0.50% of Lam Research worth $466,513,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Lam Research by 892.7% during the fourth 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 period. FMR LLC raised its holdings in Lam Research by 1,032.6% during the 4th 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 position in 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 valued at $2,265,610,000 after buying an additional 28,307,499 shares during the period. Norges Bank bought a new stake in Lam Research in the 4th quarter worth $1,661,672,000. Finally, Fisher Asset Management LLC increased its position in shares of Lam Research by 892.7% in 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 acquiring an additional 16,706,708 shares during the period. Institutional investors own 84.61% of the company's stock.

Lam Research Stock Up 3.9 %

NASDAQ:LRCX opened at $74.52 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The firm has a market cap of $95.32 billion, a P/E ratio of 22.64, a P/E/G ratio of 1.47 and a beta of 1.52. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The firm has a 50-day simple moving average of $71.83 and a two-hundred day simple moving average of $75.14.

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

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.23%. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

Insider Buying and Selling

In other Lam Research 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 transaction, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on LRCX shares. Susquehanna raised Lam Research from a "neutral" rating to a "positive" rating and raised their target price for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. KeyCorp raised Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 target price on the stock in a research note on Friday, January 17th. Bank of America dropped their price target on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Barclays decreased their price objective on shares of Lam Research from $75.00 to $70.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Finally, Oppenheimer reduced their price target on shares of Lam Research from $95.00 to $80.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $91.56.

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.

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