Northern Trust Corp Increases Stake in Lam Research Co. (NASDAQ:LRCX)

Northern Trust Corp lifted its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 1,067.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,869,244 shares of the semiconductor company's stock after purchasing an additional 14,509,407 shares during the quarter. Northern Trust Corp owned about 1.24% of Lam Research worth $1,146,235,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of LRCX. Vanguard Group Inc. raised its position in shares of Lam Research by 892.7% in the 4th 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 during the last quarter. FMR LLC increased its holdings in Lam Research by 1,032.6% in 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 during the period. Geode Capital Management LLC increased its holdings in Lam Research by 907.1% in 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 buying an additional 28,307,499 shares during the period. Norges Bank acquired a new position in Lam Research in the 4th quarter worth approximately $1,661,672,000. Finally, Fisher Asset Management LLC increased its holdings in Lam Research by 892.7% in the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company's stock worth $1,341,902,000 after buying an additional 16,706,708 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the company'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 sale, the senior vice president now directly owns 179,084 shares of the company's stock, valued at $16,117,560. This represents a 38.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Oppenheimer cut their price target on shares of Lam Research from $95.00 to $80.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. TD Cowen dropped their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday. UBS Group dropped 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. Evercore ISI raised their price target on shares of Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, Needham & Company LLC dropped their price target on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday. Six research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $92.70.

Lam Research Price Performance

Lam Research stock opened at $71.42 on Monday. The company's 50 day simple moving average is $73.15 and its 200-day simple moving average is $75.38. The company has a market capitalization of $91.68 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52. Lam Research Co. has a 1 year low of $56.32 and a 1 year 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.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The business had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, equities research analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.29%. The ex-dividend date was Wednesday, March 5th. Lam Research's payout ratio is currently 25.63%.

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.

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