Price T Rowe Associates Inc. MD Acquires 2,165,218 Shares of Lam Research Co. (NASDAQ:LRCX)

Price T Rowe Associates Inc. MD raised its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 305.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,874,358 shares of the semiconductor company's stock after purchasing an additional 2,165,218 shares during the period. Price T Rowe Associates Inc. MD owned 0.22% of Lam Research worth $207,615,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Fairway Wealth LLC grew its position in shares of Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after buying an additional 306 shares during the last quarter. Financial Perspectives Inc boosted its stake in Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 309 shares during the period. Atwood & Palmer Inc. acquired a new position in Lam Research during the 4th quarter valued at about $27,000. Midwest Capital Advisors LLC acquired a new position in Lam Research during the 4th quarter valued at about $27,000. Finally, Bell Investment Advisors Inc boosted its stake in Lam Research by 836.6% during the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 343 shares during the period. Institutional investors own 84.61% of the company's stock.

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the business's 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 sale, the senior vice president now directly owns 179,084 shares of the company's stock, valued at $16,117,560. The trade was a 38.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.29% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. KeyCorp raised shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price target for the company in a research note on Friday, January 17th. Needham & Company LLC decreased 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. Barclays decreased their target price on Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Bank of America decreased their target price on Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Finally, Morgan Stanley lifted their target price on Lam Research from $81.00 to $82.00 and gave the stock an "equal weight" rating in a report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $91.56.

Lam Research Stock Performance

Lam Research stock traded up $0.03 during trading hours on Thursday, hitting $71.70. The company had a trading volume of 9,704,976 shares, compared to its average volume of 12,135,198. The firm has a market cap of $91.71 billion, a PE ratio of 21.78, a PEG ratio of 1.47 and a beta of 1.52. 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 Co. has a one year low of $56.32 and a one year high of $113.00. The firm has a 50-day moving average of $72.18 and a 200 day moving average of $75.25.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The firm's revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter last year, the business posted $7.79 EPS. On average, sell-side 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 disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Wednesday, March 5th. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

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.