Novem Group Invests $1.17 Million in Lam Research Co. (NASDAQ:LRCX)

Novem Group acquired a new stake in Lam Research Co. (NASDAQ:LRCX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 16,209 shares of the semiconductor company's stock, valued at approximately $1,171,000.

Other hedge funds also recently bought and sold shares of the company. 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 purchasing an additional 108,619,564 shares in the last quarter. FMR LLC grew its position 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 in 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 acquiring an additional 31,255,726 shares during the last quarter. Geode Capital Management LLC raised 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 in the last quarter. Finally, Norges Bank bought a new stake in shares of Lam Research during the 4th quarter valued at about $1,661,672,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction dated 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 of the company's stock, valued at $16,117,560. This represents a 38.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.29% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Argus upgraded shares of Lam Research to a "strong-buy" rating in a research report on Friday, April 25th. Bank of America decreased their price target on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. UBS Group cut their target price on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Monday, April 14th. TD Securities lowered their price target on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, Jefferies Financial Group upped their price objective on Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $91.56.

Lam Research Price Performance

LRCX stock opened at $84.29 on Wednesday. The stock has a market capitalization of $107.82 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 1.47 and a beta of 1.64. The firm's 50-day moving average price is $72.68 and its two-hundred day moving average price is $75.59. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. 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 posted its earnings results 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. The company had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Lam Research's quarterly revenue was up 24.4% on a year-over-year basis. During the same period last year, the firm earned $7.79 earnings per share. As a group, equities analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.

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.

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