Jacobs Levy Equity Management Inc. Buys 4,594,317 Shares of Lam Research Co. (NASDAQ:LRCX)

Jacobs Levy Equity Management Inc. increased its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 4,771.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,690,605 shares of the semiconductor company's stock after purchasing an additional 4,594,317 shares during the period. Lam Research accounts for 1.2% of Jacobs Levy Equity Management Inc.'s portfolio, making the stock its 13th largest holding. Jacobs Levy Equity Management Inc. owned about 0.37% of Lam Research worth $338,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of LRCX. Diversified Trust Co grew its holdings in Lam Research by 8.3% during the 4th quarter. Diversified Trust Co now owns 3,741 shares of the semiconductor company's stock worth $270,000 after acquiring an additional 286 shares during the period. Fortitude Family Office LLC grew its holdings in Lam Research by 896.7% during the 4th quarter. Fortitude Family Office LLC now owns 598 shares of the semiconductor company's stock worth $43,000 after acquiring an additional 538 shares during the period. ORG Partners LLC grew its holdings in Lam Research by 900.0% during the 4th quarter. ORG Partners LLC now owns 1,310 shares of the semiconductor company's stock worth $95,000 after acquiring an additional 1,179 shares during the period. Harbor Capital Advisors Inc. grew its holdings in Lam Research by 334.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 20,401 shares of the semiconductor company's stock worth $1,474,000 after acquiring an additional 15,700 shares during the period. Finally, Graypoint LLC grew its holdings in Lam Research by 969.5% during the 4th quarter. Graypoint LLC now owns 9,829 shares of the semiconductor company's stock worth $710,000 after acquiring an additional 8,910 shares during the period. Institutional investors own 84.61% of the company's stock.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the company's stock in a transaction dated 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 transaction, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. Barclays lowered their target price on shares of Lam Research from $75.00 to $70.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Sanford C. Bernstein raised shares of Lam Research from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Susquehanna raised shares of Lam Research from a "neutral" rating to a "positive" rating and boosted their price target for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Argus raised shares of Lam Research to a "strong-buy" rating in a report on Friday, April 25th. Finally, Morgan Stanley boosted their price target on shares of Lam Research from $81.00 to $82.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $91.56.

Lam Research Stock Down 0.3%

NASDAQ:LRCX traded down $0.28 on Wednesday, hitting $84.97. 8,652,236 shares of the company's stock were exchanged, compared to its average volume of 12,267,990. The firm has a 50-day moving average price of $71.91 and a 200-day moving average price of $75.36. 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 company has a market cap of $108.69 billion, a P/E ratio of 25.81, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The firm had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. During the same period in the previous year, the firm posted $7.79 EPS. The company's revenue for the quarter was up 24.4% on a year-over-year basis. As a group, analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

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.