Lam Research Co. (NASDAQ:LRCX) Shares Bought by Castleark Management LLC

Castleark Management LLC raised its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 116.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 121,280 shares of the semiconductor company's stock after buying an additional 65,301 shares during the period. Castleark Management LLC's holdings in Lam Research were worth $8,760,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LRCX. Vanguard Group Inc. lifted 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 worth $8,724,498,000 after buying an additional 108,619,564 shares in the last quarter. FMR LLC lifted its stake in shares of 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 in the last quarter. Ameriprise Financial Inc. lifted its position in Lam Research by 950.5% during the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock valued at $2,495,128,000 after purchasing an additional 31,255,726 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 worth $2,265,610,000 after acquiring an additional 28,307,499 shares during the period. Finally, Norges Bank purchased a new stake in Lam Research in the fourth quarter worth $1,661,672,000. Institutional investors own 84.61% of the company's stock.

Lam Research Trading Down 1.8%

NASDAQ:LRCX traded down $1.50 on Friday, hitting $81.06. The stock had a trading volume of 8,275,227 shares, compared to its average volume of 12,240,496. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The stock has a market cap of $103.69 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 1.47 and a beta of 1.64. The company has a fifty day moving average price of $72.92 and a two-hundred day moving average price of $75.73. Lam Research Co. has a 1-year low of $56.32 and a 1-year high of $113.00.

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

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's dividend payout ratio is presently 25.63%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Evercore ISI increased their price objective on Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Mizuho boosted their price target on Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Barclays dropped 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. Susquehanna upgraded Lam Research from a "neutral" rating to a "positive" rating and lifted their price objective for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Finally, Stifel Nicolaus lowered their target price on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $91.56.

About Lam Research

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.