Man Group plc Increases Position in Lam Research Co. (NASDAQ:LRCX)

Man Group plc grew its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 735.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,656,854 shares of the semiconductor company's stock after buying an additional 1,458,480 shares during the quarter. Man Group plc owned 0.13% of Lam Research worth $119,675,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings 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 buying an additional 108,619,564 shares during the last quarter. FMR LLC lifted its position in Lam Research by 1,032.6% during the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock valued at $2,891,453,000 after purchasing an additional 36,496,689 shares during the period. Ameriprise Financial Inc. lifted its position in Lam Research by 950.5% during the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock valued at $2,495,128,000 after purchasing an additional 31,255,726 shares during the period. Geode Capital Management LLC lifted its position in Lam Research by 907.1% during 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 purchasing an additional 28,307,499 shares during the period. Finally, Norges Bank bought a new position in Lam Research during the fourth quarter valued at approximately $1,661,672,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research Price Performance

LRCX stock opened at $85.25 on Wednesday. Lam Research Co. has a 12 month low of $56.32 and a 12 month high of $113.00. 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 company has a 50-day moving average price of $71.79 and a 200 day moving average price of $75.29. The stock has a market cap of $109.04 billion, a PE ratio of 25.90, a P/E/G ratio of 1.47 and a beta of 1.64.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (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 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 quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the company earned $7.79 EPS. Equities research analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current year.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the transaction, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. The trade was a 38.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. B. Riley restated a "buy" rating on shares of Lam Research in a research report on Thursday, April 24th. Argus upgraded shares of Lam Research to a "strong-buy" rating in a research report on Friday, April 25th. Barclays decreased their price target on shares of Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. UBS Group decreased their price target on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Wells Fargo & Company decreased their price target on shares of Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Lam Research presently has an average rating of "Moderate Buy" and an average price target 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.

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