DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Boosts Stock Position in Lam Research Co. (NASDAQ:LRCX)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 741.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 671,873 shares of the semiconductor company's stock after purchasing an additional 592,066 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned 0.05% of Lam Research worth $48,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Lam Research by 892.7% in 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 position in Lam Research by 1,032.6% in the fourth 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. Ameriprise Financial Inc. raised its position in 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 boosted its holdings in shares of Lam Research by 907.1% in 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 acquiring an additional 28,307,499 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Lam Research in the fourth quarter worth $1,661,672,000. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Jefferies Financial Group upped their price target on shares of Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a report on Friday, March 28th. Barclays lowered their price objective on Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company decreased their target price on shares of Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. TD Cowen cut their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, B. Riley reissued a "buy" rating on shares of Lam Research in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $91.56.

Lam Research Stock Up 9.1%

NASDAQ:LRCX traded up $6.89 during midday trading on Monday, reaching $82.25. The company had a trading volume of 17,453,569 shares, compared to its average volume of 12,238,263. Lam Research Co. has a 12-month low of $56.32 and a 12-month high of $113.00. The stock's fifty day simple moving average is $71.56 and its 200-day simple moving average is $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 firm has a market capitalization of $105.21 billion, a price-to-earnings ratio of 24.98, a PEG ratio of 1.47 and a beta of 1.64.

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

Insider Activity

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.