Schonfeld Strategic Advisors LLC Increases Holdings in Lam Research Co. (NASDAQ:LRCX)

Schonfeld Strategic Advisors LLC raised its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 1,801.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 423,974 shares of the semiconductor company's stock after acquiring an additional 401,675 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Lam Research were worth $30,624,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wolfe Research lowered shares of Lam Research from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft set a $70.00 target price on Lam Research and gave the stock a "hold" rating in a research report on Thursday, April 24th. Jefferies Financial Group lifted their price target on Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, March 28th. KeyCorp raised 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. Finally, Oppenheimer reduced their target price on Lam Research from $95.00 to $80.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $91.56.

Lam Research Price Performance

Shares of NASDAQ LRCX traded up $0.06 during trading hours on Thursday, reaching $71.73. 14,138,417 shares of the stock traded hands, compared to its average volume of 12,136,498. The company's 50-day simple moving average is $71.95 and its two-hundred day simple moving average is $75.15. The company has a market capitalization of $91.75 billion, a P/E ratio of 21.79, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52. Lam Research Co. has a 52-week low of $56.32 and a 52-week high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS 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 firm had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the firm posted $7.79 earnings per share. The business's revenue was up 24.4% compared to the same quarter last year. Equities research analysts forecast that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

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

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm'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 value of $9,907,200.00. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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.