Morse Asset Management Inc Purchases 18,988 Shares of Lam Research Co. (NASDAQ:LRCX)

Morse Asset Management Inc lifted its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 832.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,270 shares of the semiconductor company's stock after buying an additional 18,988 shares during the period. Morse Asset Management Inc's holdings in Lam Research were worth $1,536,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of LRCX. Vanguard Group Inc. boosted its position in shares of 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 buying an additional 108,619,564 shares during the period. FMR LLC boosted its holdings in Lam Research by 1,032.6% in 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 last quarter. Ameriprise Financial Inc. boosted its holdings in Lam Research by 950.5% in 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 last quarter. Geode Capital Management LLC boosted its holdings in 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 purchasing an additional 28,307,499 shares during the last quarter. Finally, Norges Bank purchased a new position in Lam Research in the fourth quarter valued at about $1,661,672,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the business's stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 179,084 shares of the company's stock, valued at approximately $16,117,560. The trade was a 38.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Lam Research Price Performance

Shares of LRCX stock traded down $0.36 during mid-day trading on Friday, hitting $84.43. 10,088,878 shares of the stock traded hands, compared to its average volume of 12,283,580. Lam Research Co. has a twelve month low of $56.32 and a twelve month high of $113.00. The firm has a market cap of $108.00 billion, a price-to-earnings ratio of 25.65, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64. The company's 50-day simple moving average is $72.13 and its 200-day simple moving average is $75.43. 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 issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The business 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 quarterly revenue was up 24.4% on a year-over-year basis. As a group, equities research analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LRCX. Cantor Fitzgerald reissued an "overweight" rating and issued a $90.00 price target on shares of Lam Research in a report on Thursday, April 24th. Bank of America cut their price objective on Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. B. Riley restated a "buy" rating on shares of Lam Research in a research note on Thursday, April 24th. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on Lam Research and gave the company a "hold" rating in a research note on Thursday, April 24th. Finally, Oppenheimer dropped their price target on Lam Research from $95.00 to $80.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently 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.