Woodline Partners LP Buys 2,096,966 Shares of Lam Research Co. (NASDAQ:LRCX)

Woodline Partners LP raised its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 3,779.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,152,450 shares of the semiconductor company's stock after buying an additional 2,096,966 shares during the quarter. Lam Research accounts for about 1.1% of Woodline Partners LP's holdings, making the stock its 7th biggest position. Woodline Partners LP owned approximately 0.17% of Lam Research worth $155,471,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Lam Research by 892.7% in the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock worth $8,724,498,000 after acquiring an additional 108,619,564 shares in the last quarter. FMR LLC grew its position in Lam Research by 1,032.6% in the fourth 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 in the last quarter. Ameriprise Financial Inc. grew its position in Lam Research by 950.5% in the fourth 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 grew its position 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 in the last quarter. Finally, Norges Bank bought a new stake in Lam Research in the fourth quarter worth approximately $1,661,672,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. B. Riley reissued a "buy" rating on shares of Lam Research in a research report on Thursday, April 24th. Sanford C. Bernstein raised shares of Lam Research from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. TD Securities decreased their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on shares of Lam Research and gave the stock a "hold" rating in a report on Thursday, April 24th. Finally, TD Cowen decreased their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Lam Research has an average rating of "Moderate Buy" and an average price target of $91.56.

Lam Research Price Performance

NASDAQ:LRCX opened at $83.82 on Tuesday. The company has a 50-day moving average of $72.50 and a 200-day moving average of $75.53. The company has a market capitalization of $107.22 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 1.47 and a beta of 1.64. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. 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 (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The firm's revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period last year, the firm earned $7.79 EPS. As a group, equities research analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Insider Transactions at Lam Research

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 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 $16,117,560. This trade represents a 38.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.29% of the stock is owned by insiders.

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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