Lam Research Co. (NASDAQ:LRCX) Shares Bought by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. raised its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 1,370.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 147,280 shares of the semiconductor company's stock after purchasing an additional 137,262 shares during the quarter. T. Rowe Price Investment Management Inc.'s holdings in Lam Research were worth $10,639,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Parisi Gray Wealth Management raised its stake in shares of Lam Research by 652.9% in the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company's stock valued at $603,000 after acquiring an additional 7,241 shares during the period. Burns J W & Co. Inc. NY purchased a new position in shares of Lam Research in the 4th quarter valued at $815,000. Centerpoint Advisors LLC lifted its holdings in Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock worth $72,000 after buying an additional 900 shares in the last quarter. Transform Wealth LLC purchased a new position in Lam Research in the 4th quarter valued at about $17,269,000. Finally, E. Ohman J or Asset Management AB purchased a new position in Lam Research in the 4th quarter valued at about $4,258,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research 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 transaction, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. 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 owned by insiders.

Analyst Upgrades and Downgrades

LRCX has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price target on Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a report on Thursday. Jefferies Financial Group increased their price target on Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a report on Friday, March 28th. Wolfe Research downgraded Lam Research from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 15th. B. Riley reissued a "buy" rating on shares of Lam Research in a report on Thursday. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $90.00 price target on shares of Lam Research in a report on Thursday. Six research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, Lam Research presently has a consensus rating of "Moderate Buy" and an average price target of $92.70.

Lam Research Stock Up 0.7 %

Shares of Lam Research stock opened at $71.42 on Monday. 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 business's 50 day simple moving average is $73.15 and its 200-day simple moving average is $75.38. The stock has a market capitalization of $91.68 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 1.47 and a beta of 1.52. 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 posted its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS 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 firm had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. Equities research analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Wednesday, March 5th. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

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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