NorthRock Partners LLC Takes Position in Lam Research Co. (NASDAQ:LRCX)

NorthRock Partners LLC purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,621 shares of the semiconductor company's stock, valued at approximately $984,000.

A number of other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position 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 worth $8,724,498,000 after acquiring an additional 108,619,564 shares during the period. FMR LLC increased its position in shares of Lam Research by 1,032.6% during the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock worth $2,891,453,000 after acquiring an additional 36,496,689 shares during the period. Ameriprise Financial Inc. increased its position in shares of Lam Research by 950.5% during the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock worth $2,495,128,000 after acquiring an additional 31,255,726 shares during the period. Geode Capital Management LLC increased its position in shares of 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 worth $2,265,610,000 after acquiring an additional 28,307,499 shares during the period. Finally, Norges Bank purchased a new stake in shares of Lam Research during the fourth quarter worth $1,661,672,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Stock Performance

Shares of LRCX traded down $0.36 during mid-day trading on Friday, hitting $84.43. 10,088,878 shares of the company's stock were exchanged, compared to its average volume of 12,296,335. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The firm has a market capitalization of $108.00 billion, a P/E ratio of 25.65, a P/E/G ratio of 1.47 and a beta of 1.64. The business's 50 day moving average is $72.35 and its two-hundred day moving average is $75.46. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the firm earned $7.79 earnings per share. The business's quarterly revenue was up 24.4% compared to the same quarter last year. On average, equities analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

LRCX has been the topic of a number of recent research reports. Sanford C. Bernstein raised Lam Research from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Jefferies Financial Group increased their target price on Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a report on Friday, March 28th. Wells Fargo & Company dropped their target price on Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Needham & Company LLC dropped their target price on Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, B. Riley reissued a "buy" rating on shares of Lam Research in a 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $91.56.

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's 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 trade represents a 38.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.29% of the company's stock.

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.