MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Stake in Lam Research Co. (NASDAQ:LRCX)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 918.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,085,791 shares of the semiconductor company's stock after purchasing an additional 979,142 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.08% of Lam Research worth $78,415,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LRCX. Vanguard Group Inc. boosted its stake in Lam Research by 892.7% in the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock worth $8,724,498,000 after purchasing an additional 108,619,564 shares during the period. FMR LLC boosted its stake in Lam Research by 1,032.6% in the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock worth $2,891,453,000 after purchasing an additional 36,496,689 shares during the period. Ameriprise Financial Inc. boosted its stake 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 worth $2,495,128,000 after buying an additional 31,255,726 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 worth $2,265,610,000 after buying an additional 28,307,499 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Lam Research during the 4th quarter worth about $1,661,672,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. This represents a 38.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.29% of the company's stock.

Lam Research Stock Performance

Shares of Lam Research stock traded down $0.36 on Friday, reaching $84.43. 10,088,878 shares of the company traded hands, compared to its average volume of 12,283,580. The company has a 50 day moving average of $72.13 and a 200 day moving average of $75.43. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The firm has a market capitalization of $108.00 billion, a PE ratio of 25.65, a PEG ratio of 1.47 and a beta of 1.64.

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 the consensus estimate of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The business had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period in the prior year, the company earned $7.79 earnings per share. Lam Research's revenue was up 24.4% compared to the same quarter last year. Equities analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LRCX. UBS Group reduced their price objective on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Oppenheimer dropped their target price on shares of Lam Research from $95.00 to $80.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Evercore ISI upped their target price on shares of Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. KeyCorp raised shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 target price on the stock in a report on Friday, January 17th. Finally, Wells Fargo & Company lowered their price target on shares of Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Lam Research currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.56.

Lam Research Company 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.