Lord Abbett & CO. LLC Acquires 571,284 Shares of Lam Research Co. (NASDAQ:LRCX)

Lord Abbett & CO. LLC grew its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 900.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 634,745 shares of the semiconductor company's stock after buying an additional 571,284 shares during the quarter. Lord Abbett & CO. LLC's holdings in Lam Research were worth $45,848,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of LRCX. Vanguard Group Inc. boosted its stake in Lam Research by 892.7% in the fourth 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 in the last quarter. FMR LLC lifted its position 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 worth $2,891,453,000 after buying an additional 36,496,689 shares in the last quarter. Geode Capital Management LLC grew its holdings in 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 acquiring an additional 28,307,499 shares during the last quarter. Norges Bank acquired a new stake in Lam Research in the 4th quarter valued at about $1,661,672,000. Finally, Fisher Asset Management LLC raised its stake in shares of Lam Research by 892.7% in the fourth quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company's stock worth $1,341,902,000 after acquiring an additional 16,706,708 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Insider Transactions at Lam Research

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

Lam Research Trading Up 2.0 %

Shares of Lam Research stock traded up $1.44 on Thursday, reaching $73.11. 5,575,687 shares of the company's stock were exchanged, compared to its average volume of 12,102,565. The company has a market capitalization of $93.51 billion, a P/E ratio of 22.22, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The firm's 50-day moving average is $72.18 and its two-hundred day moving average is $75.25.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued 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. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The firm's revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period last year, the business posted $7.79 EPS. Sell-side analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research's dividend payout ratio is currently 25.63%.

Analyst Ratings Changes

Several research firms have issued reports on LRCX. TD Cowen reduced their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on Lam Research and gave the stock a "hold" rating in a report on Thursday, April 24th. Susquehanna raised shares of Lam Research from a "neutral" rating to a "positive" rating and raised their target price for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Mizuho lifted their price target on shares of Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Finally, Argus raised shares of Lam Research to a "strong-buy" rating in a research note on Friday, April 25th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $91.56.

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.