Twinbeech Capital LP Purchases 695,098 Shares of Lam Research Co. (NASDAQ:LRCX)

Twinbeech Capital LP boosted its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 62,565.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 696,209 shares of the semiconductor company's stock after purchasing an additional 695,098 shares during the period. Twinbeech Capital LP owned approximately 0.05% of Lam Research worth $50,287,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake 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 last quarter. FMR LLC grew its position 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 worth $2,891,453,000 after acquiring an additional 36,496,689 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Lam Research by 950.5% in the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock worth $2,495,128,000 after purchasing an additional 31,255,726 shares during the period. Geode Capital Management LLC increased its stake in shares of 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 worth $2,265,610,000 after buying an additional 28,307,499 shares during the period. Finally, Norges Bank purchased a new position in shares of Lam Research in the fourth quarter worth $1,661,672,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Down 0.3%

Shares of NASDAQ LRCX traded down $0.23 during mid-day trading on Thursday, hitting $82.56. 6,239,953 shares of the stock traded hands, compared to its average volume of 12,249,699. 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 Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The company has a market cap of $105.60 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 1.47 and a beta of 1.64. The stock has a fifty day moving average price of $72.76 and a 200-day moving average price of $75.64.

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 period in the previous year, the company posted $7.79 earnings per share. The firm's revenue was up 24.4% on a year-over-year basis. Research analysts anticipate that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is 25.63%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $90.00 target price on shares of Lam Research in a research note on Thursday, April 24th. Susquehanna raised shares of Lam Research from a "neutral" rating to a "positive" rating and lifted their target price for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. UBS Group decreased their target price on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Oppenheimer cut their price objective on Lam Research from $95.00 to $80.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Finally, Barclays cut 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. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price 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.