Lam Research Co. (NASDAQ:LRCX) Shares Bought by AQR Capital Management LLC

AQR Capital Management LLC lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 370.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 555,062 shares of the semiconductor company's stock after purchasing an additional 436,998 shares during the quarter. AQR Capital Management LLC's holdings in Lam Research were worth $40,092,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. West Oak Capital LLC grew its position in shares of Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 135 shares during the last quarter. Diversified Trust Co increased its position in Lam Research by 8.3% during the fourth quarter. Diversified Trust Co now owns 3,741 shares of the semiconductor company's stock worth $270,000 after buying an additional 286 shares in the last quarter. McLean Asset Management Corp lifted its position in shares of Lam Research by 6.3% in the fourth quarter. McLean Asset Management Corp now owns 5,122 shares of the semiconductor company's stock valued at $370,000 after acquiring an additional 302 shares in the last quarter. Fairway Wealth LLC boosted its stake in shares of Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 306 shares during the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC increased its position in Lam Research by 159.1% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company's stock worth $36,000 after purchasing an additional 307 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $74.52 on Friday. The company has a market capitalization of $95.32 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 1.47 and a beta of 1.52. 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 1-year low of $56.32 and a 1-year high of $113.00. The business has a 50-day moving average of $71.83 and a 200-day moving average of $75.14.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the company posted $7.79 EPS. On average, equities analysts anticipate that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Wednesday, March 5th. Lam Research's dividend payout ratio (DPR) is currently 25.63%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Mizuho upped their target price on shares of Lam Research from $87.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Bank of America lowered their target price on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. The Goldman Sachs Group reduced their price target on Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. TD Cowen lowered their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, B. Riley reissued a "buy" rating on shares of Lam Research in a research note on Thursday, April 24th. 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 MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $91.56.

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the sale, the senior vice president now directly owns 179,084 shares of the company's stock, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.29% of the company's stock.

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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