Empire Life Investments Inc. Purchases 1,803 Shares of Lam Research Co. (NASDAQ:LRCX)

Empire Life Investments Inc. increased its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 9.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,974 shares of the semiconductor company's stock after acquiring an additional 1,803 shares during the quarter. Empire Life Investments Inc.'s holdings in Lam Research were worth $15,645,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Arlington Trust Co LLC boosted its stake in Lam Research by 7.7% during the 4th quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company's stock worth $143,000 after acquiring an additional 13 shares during the last quarter. Capital Performance Advisors LLP lifted its stake in Lam Research by 2.2% in the fourth quarter. Capital Performance Advisors LLP now owns 613 shares of the semiconductor company's stock valued at $480,000 after buying an additional 13 shares in the last quarter. Van Leeuwen & Company LLC lifted its stake in Lam Research by 0.5% in the fourth quarter. Van Leeuwen & Company LLC now owns 2,583 shares of the semiconductor company's stock valued at $2,023,000 after buying an additional 13 shares in the last quarter. CNB Bank lifted its stake in Lam Research by 1.4% in the fourth quarter. CNB Bank now owns 1,032 shares of the semiconductor company's stock valued at $808,000 after buying an additional 14 shares in the last quarter. Finally, TRUE Private Wealth Advisors lifted its stake in Lam Research by 4.1% in the fourth quarter. TRUE Private Wealth Advisors now owns 378 shares of the semiconductor company's stock valued at $296,000 after buying an additional 15 shares in the last quarter. Institutional investors own 84.61% of the company's stock.

Insiders Place Their Bets

In other Lam Research news, EVP Patrick J. Lord sold 60 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $921.54, for a total transaction of $55,292.40. Following the sale, the executive vice president now directly owns 4,454 shares in the company, valued at $4,104,539.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Patrick J. Lord sold 60 shares of the firm's stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $921.54, for a total value of $55,292.40. Following the sale, the executive vice president now directly owns 4,454 shares in the company, valued at approximately $4,104,539.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider George M. Schisler sold 400 shares of the firm's stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $908.21, for a total transaction of $363,284.00. Following the completion of the sale, the insider now owns 5,661 shares in the company, valued at $5,141,376.81. The disclosure for this sale can be found here. Insiders have sold 7,489 shares of company stock worth $6,978,065 over the last ninety days. Corporate insiders own 0.32% of the company's stock.

Lam Research Stock Performance

Shares of LRCX stock traded up $8.75 on Tuesday, hitting $912.54. The company's stock had a trading volume of 574,716 shares, compared to its average volume of 1,034,081. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.84 and a current ratio of 2.82. The stock's 50 day moving average is $937.11 and its 200-day moving average is $833.67. Lam Research Co. has a fifty-two week low of $529.95 and a fifty-two week high of $1,007.39. The company has a market capitalization of $119.31 billion, a PE ratio of 33.52, a PEG ratio of 2.84 and a beta of 1.51.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, beating the consensus estimate of $7.26 by $0.53. The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. Lam Research's revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company posted $6.99 earnings per share. Equities research analysts expect that Lam Research Co. will post 29.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. StockNews.com lowered shares of Lam Research from a "buy" rating to a "hold" rating in a research note on Saturday, May 4th. B. Riley upgraded shares of Lam Research from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $870.00 to $1,100.00 in a report on Friday, April 19th. Cantor Fitzgerald restated a "neutral" rating and set a $1,100.00 target price on shares of Lam Research in a report on Thursday, April 25th. Needham & Company LLC restated a "buy" rating and set a $1,030.00 target price on shares of Lam Research in a report on Thursday, April 25th. Finally, The Goldman Sachs Group boosted their target price on shares of Lam Research from $700.00 to $912.00 and gave the stock a "buy" rating in a report on Thursday, January 25th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $957.95.

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.

Want to see what other hedge funds are holding LRCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lam Research Co. (NASDAQ:LRCX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.