Ensign Peak Advisors Inc Acquires 582,800 Shares of Lam Research Co. (NASDAQ:LRCX)

Ensign Peak Advisors Inc raised its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 893.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 648,058 shares of the semiconductor company's stock after purchasing an additional 582,800 shares during the quarter. Ensign Peak Advisors Inc owned 0.05% of Lam Research worth $46,809,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. West Oak Capital LLC grew its stake in shares of Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 135 shares during the period. Diversified Trust Co grew its stake in shares of Lam Research by 8.3% during the 4th quarter. Diversified Trust Co now owns 3,741 shares of the semiconductor company's stock valued at $270,000 after purchasing an additional 286 shares during the period. McLean Asset Management Corp grew its stake in shares of Lam Research by 6.3% during the 4th quarter. McLean Asset Management Corp now owns 5,122 shares of the semiconductor company's stock valued at $370,000 after purchasing an additional 302 shares during the period. Fairway Wealth LLC grew its stake in shares of Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 306 shares during the period. Finally, Householder Group Estate & Retirement Specialist LLC grew its stake in shares of Lam Research by 159.1% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company's stock valued at $36,000 after acquiring an additional 307 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Evercore ISI boosted their price objective on Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Barclays cut their price objective on Lam Research from $75.00 to $70.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. B. Riley reiterated a "buy" rating on shares of Lam Research in a research note on Thursday, April 24th. Morgan Stanley boosted their price objective on Lam Research from $81.00 to $82.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. Finally, TD Securities cut their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Seven equities 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 company's stock. According to MarketBeat.com, Lam Research currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.56.

Lam Research Price Performance

Shares of LRCX traded up $6.89 during mid-day trading on Monday, hitting $82.25. 17,453,569 shares of the stock were exchanged, compared to its average volume of 12,238,269. The company has a market cap of $105.21 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64. Lam Research Co. has a 52-week low of $56.32 and a 52-week high of $113.00. The firm has a 50-day moving average of $71.62 and a two-hundred day moving average of $75.23. 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 - Get Free Report) last released 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 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 in the prior year, the firm posted $7.79 EPS. Lam Research's quarterly revenue was up 24.4% compared to the same quarter last year. On average, equities analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.

Insider Activity at Lam Research

In related 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 transaction of $9,907,200.00. Following the sale, 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 filing with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by insiders.

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.