Bridgefront Capital LLC Purchases Shares of 4,034 Lam Research Co. (NASDAQ:LRCX)

Bridgefront Capital LLC purchased a new stake in Lam Research Co. (NASDAQ:LRCX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,034 shares of the semiconductor company's stock, valued at approximately $291,000.

Several other hedge funds and other institutional investors have also bought and sold shares of LRCX. Vanguard Group Inc. grew its position 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 acquiring an additional 108,619,564 shares during the period. FMR LLC boosted its stake in Lam Research by 1,032.6% during the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock worth $2,891,453,000 after buying an additional 36,496,689 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Lam Research by 950.5% during the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock worth $2,495,128,000 after buying an additional 31,255,726 shares during the last quarter. Geode Capital Management LLC lifted its position 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 valued at $2,265,610,000 after buying an additional 28,307,499 shares during the last quarter. Finally, Norges Bank acquired a new position in Lam Research during the fourth quarter worth $1,661,672,000. Institutional investors own 84.61% of the company's stock.

Lam Research Stock Up 0.7 %

NASDAQ:LRCX traded up $0.53 on Friday, reaching $75.43. The stock had a trading volume of 7,033,780 shares, compared to its average volume of 12,217,311. The company has a 50-day moving average of $71.56 and a 200 day moving average of $75.19. 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 stock has a market cap of $96.48 billion, a P/E ratio of 22.91, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64. Lam Research Co. has a 12-month low of $56.32 and a 12-month high of $113.00.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Needham & Company LLC cut their price target on Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Morgan Stanley boosted their target price on Lam Research from $81.00 to $82.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. TD Securities dropped their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Mizuho raised their price objective on shares of Lam Research from $87.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group dropped their target price on Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $91.56.

Insider Buying and Selling at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.