Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Systematic Financial Management LP

Systematic Financial Management LP lifted its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 900.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,300 shares of the semiconductor company's stock after buying an additional 8,370 shares during the quarter. Systematic Financial Management LP's holdings in Lam Research were worth $672,000 as of its most recent SEC filing.

A number of 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 acquiring an additional 108,619,564 shares during the period. FMR LLC raised its stake 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 valued at $2,891,453,000 after purchasing an additional 36,496,689 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Lam Research by 950.5% during the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock valued at $2,495,128,000 after buying an additional 31,255,726 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Lam Research by 907.1% during 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 purchasing an additional 28,307,499 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Lam Research in the fourth quarter valued at $1,661,672,000. Institutional investors own 84.61% of the company's stock.

Insider Activity at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the company's stock in a transaction on 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 in the company, valued at approximately $16,117,560. This represents a 38.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is currently owned by insiders.

Lam Research Price Performance

Shares of NASDAQ:LRCX traded down $1.50 on Wednesday, hitting $82.79. The company had a trading volume of 8,079,082 shares, compared to its average volume of 12,260,483. The business has a 50 day moving average of $72.68 and a 200 day moving average of $75.59. 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 $105.90 billion, a PE ratio of 25.15, a PEG ratio of 1.47 and a beta of 1.64. 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 (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The business's revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $7.79 EPS. As a group, equities analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company 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 dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.11%. Lam Research's dividend payout ratio is presently 25.63%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LRCX shares. Evercore ISI lifted their price target on shares of Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $90.00 price target on shares of Lam Research in a report on Thursday, April 24th. TD Cowen lowered their target price on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Morgan Stanley increased their price objective on Lam Research from $81.00 to $82.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. Finally, Stifel Nicolaus dropped their target price on Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Seven research 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 data from MarketBeat, Lam Research 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.