Oxford Asset Management LLP Purchases Shares of 6,263 Lam Research Co. (NASDAQ:LRCX)

Oxford Asset Management LLP bought a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 6,263 shares of the semiconductor company's stock, valued at approximately $452,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Lam Research by 892.7% in 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 acquiring an additional 108,619,564 shares during the period. FMR LLC lifted 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 valued at $2,891,453,000 after purchasing an additional 36,496,689 shares in the last quarter. Geode Capital Management LLC lifted 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 valued at $2,265,610,000 after purchasing an additional 28,307,499 shares in the last quarter. Norges Bank purchased a new position in shares of Lam Research during the 4th quarter worth $1,661,672,000. Finally, Fisher Asset Management LLC raised its holdings in shares of Lam Research by 892.7% during 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 acquiring an additional 16,706,708 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Performance

Shares of Lam Research stock traded up $0.77 on Wednesday, reaching $71.67. 11,210,488 shares of the stock were exchanged, compared to its average volume of 12,127,411. Lam Research Co. has a 1-year low of $56.32 and a 1-year 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 business has a fifty day moving average price of $72.46 and a two-hundred day moving average price of $75.27. The firm has a market capitalization of $92.00 billion, a PE ratio of 21.77, a PEG ratio of 1.47 and a beta of 1.52.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly 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 net margin of 26.49% and a return on equity of 51.86%. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period in the previous year, the business posted $7.79 earnings per share. The business's revenue was up 24.4% compared to the same quarter last year. As a group, research analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.28%. Lam Research's payout ratio is currently 25.63%.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company's stock in a transaction dated 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 transaction, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.29% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LRCX. Oppenheimer cut their price objective on Lam Research from $95.00 to $80.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Bank of America reduced their price objective on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. KeyCorp upgraded shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price objective on the stock in a report on Friday, January 17th. Barclays cut 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 note on Tuesday, April 22nd. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $90.00 price target on shares of Lam Research in a research note on Thursday, April 24th. Seven equities 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $91.56.

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.