Bamco Inc. NY Acquires 8,188 Shares of Lam Research Co. (NASDAQ:LRCX)

Bamco Inc. NY increased its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 985.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,019 shares of the semiconductor company's stock after buying an additional 8,188 shares during the quarter. Bamco Inc. NY's holdings in Lam Research were worth $651,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Lam Research by 892.7% during the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock valued at $8,724,498,000 after purchasing an additional 108,619,564 shares in the last quarter. FMR LLC increased its stake in Lam Research by 1,032.6% during the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock valued at $2,891,453,000 after buying an additional 36,496,689 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Lam Research by 950.5% in the 4th 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 during the period. Geode Capital Management LLC boosted its holdings in shares of 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 valued at $2,265,610,000 after acquiring an additional 28,307,499 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Lam Research during the fourth quarter valued at approximately $1,661,672,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business's stock in a transaction 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 owns 179,084 shares of the company's stock, valued at $16,117,560. The trade was a 38.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.29% of the company's stock.

Lam Research Stock Up 0.7 %

Shares of Lam Research stock traded up $0.53 during midday trading on Friday, reaching $75.43. 7,033,780 shares of the company's stock traded hands, compared to its average volume of 12,188,843. The company has a market cap of $96.48 billion, a price-to-earnings ratio of 22.91, a price-to-earnings-growth 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's 50 day simple moving average is $71.56 and its 200 day simple moving average is $75.19. 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 results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The company's quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter last year, the firm posted $7.79 earnings per share. Equities analysts expect that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LRCX has been the subject of a number of research reports. TD Cowen decreased their price target on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Evercore ISI raised their target price on Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Deutsche Bank Aktiengesellschaft set a $70.00 target price on Lam Research and gave the stock a "hold" rating in a report on Thursday, April 24th. Argus raised shares of Lam Research to a "strong-buy" rating in a report on Friday, April 25th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $90.00 price objective on shares of Lam Research in a research note on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Lam Research has a consensus rating of "Moderate Buy" and an average price target 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.