Taylor Hoffman Capital Management LLC Purchases New Shares in Lam Research Co. (NASDAQ:LRCX)

Taylor Hoffman Capital Management LLC acquired a new position in Lam Research Co. (NASDAQ:LRCX - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 91,800 shares of the semiconductor company's stock, valued at approximately $6,631,000. Lam Research makes up 2.4% of Taylor Hoffman Capital Management LLC's holdings, making the stock its 10th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised 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 purchasing an additional 108,619,564 shares in the last quarter. FMR LLC lifted its holdings 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 buying an additional 36,496,689 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of 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 in the last quarter. Geode Capital Management LLC increased 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 during the last quarter. Finally, Norges Bank bought a new stake in shares of Lam Research in the 4th quarter valued at approximately $1,661,672,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LRCX. Susquehanna upgraded Lam Research from a "neutral" rating to a "positive" rating and raised their price objective for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Barclays dropped their target price on shares of Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Stifel Nicolaus decreased their price target on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Morgan Stanley boosted their price objective on shares of Lam Research from $81.00 to $82.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. Finally, Sanford C. Bernstein raised shares of Lam Research from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Lam Research has an average rating of "Moderate Buy" and a consensus price target of $91.56.

Lam Research Trading Up 0.6%

Shares of NASDAQ:LRCX opened at $84.29 on Wednesday. The company has a 50 day moving average of $72.68 and a 200-day moving average of $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. The firm has a market cap of $107.82 billion, a P/E ratio of 25.60, a P/E/G ratio of 1.47 and a beta of 1.64. Lam Research Co. has a twelve month low of $56.32 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its 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. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The firm had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the prior year, the firm posted $7.79 earnings per share. The firm's revenue for the quarter was up 24.4% compared to the same quarter last year. As a group, analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 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 completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is owned by corporate insiders.

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.

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