PDT Partners LLC Purchases 47,419 Shares of Lam Research Co. (NASDAQ:LRCX)

PDT Partners LLC raised its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 894.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,720 shares of the semiconductor company's stock after purchasing an additional 47,419 shares during the quarter. PDT Partners LLC's holdings in Lam Research were worth $3,808,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake 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 worth $8,724,498,000 after buying an additional 108,619,564 shares in the last quarter. FMR LLC raised its position in shares of 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 acquiring an additional 36,496,689 shares in the last quarter. Geode Capital Management LLC boosted 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 valued at $2,265,610,000 after purchasing an additional 28,307,499 shares in the last quarter. Norges Bank purchased a new stake in Lam Research in the fourth quarter worth $1,661,672,000. Finally, Fisher Asset Management LLC lifted its position in 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 valued at $1,341,902,000 after acquiring an additional 16,706,708 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LRCX. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $90.00 price objective on shares of Lam Research in a research report on Thursday, April 24th. Bank of America reduced their price target on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Wells Fargo & Company dropped their price target on shares of Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Stifel Nicolaus reduced their price objective on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Finally, Argus upgraded shares of Lam Research to a "strong-buy" rating in a research note on Friday, April 25th. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Lam Research presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.56.

Lam Research Price Performance

Shares of LRCX stock traded up $0.06 during mid-day trading on Thursday, hitting $71.73. The company had a trading volume of 14,138,417 shares, compared to its average volume of 12,136,502. The company has a market capitalization of $91.75 billion, a P/E ratio of 21.79, a P/E/G ratio of 1.47 and a beta of 1.52. The stock's 50 day moving average price is $71.95 and its 200-day moving average price is $75.15. Lam Research Co. has a 52-week low of $56.32 and a 52-week high of $113.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating 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 EPS. The business's revenue was up 24.4% on a year-over-year basis. Equities research analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date was Wednesday, March 5th. Lam Research's payout ratio is 25.63%.

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the transaction, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company's stock.

About Lam Research

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.