Geode Capital Management LLC Boosts Stake in Lam Research Co. (NASDAQ:LRCX)

Geode Capital Management LLC raised its holdings in Lam Research Co. (NASDAQ:LRCX) by 907.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,428,010 shares of the semiconductor company’s stock after acquiring an additional 28,307,499 shares during the period. Geode Capital Management LLC owned approximately 2.45% of Lam Research worth $2,265,610,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. StoneX Group Inc. purchased a new position in Lam Research in the 4th quarter worth approximately $1,471,000. National Bank of Canada FI lifted its holdings in shares of Lam Research by 1,102.6% during the 4th quarter. National Bank of Canada FI now owns 2,156,852 shares of the semiconductor company’s stock worth $155,790,000 after acquiring an additional 1,977,509 shares during the last quarter. HighPoint Advisor Group LLC lifted its holdings in shares of Lam Research by 9.4% during the 4th quarter. HighPoint Advisor Group LLC now owns 20,944 shares of the semiconductor company’s stock worth $1,513,000 after acquiring an additional 1,802 shares during the last quarter. Meridian Investment Counsel Inc. grew its position in Lam Research by 900.0% in the fourth quarter. Meridian Investment Counsel Inc. now owns 6,720 shares of the semiconductor company’s stock worth $485,000 after acquiring an additional 6,048 shares in the last quarter. Finally, Franklin Resources Inc. bought a new position in Lam Research in the fourth quarter valued at $452,827,000. Institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

LRCX has been the subject of several research analyst reports. Oppenheimer assumed coverage on Lam Research in a research note on Thursday, March 20th. They set an “outperform” rating and a $95.00 price target for the company. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research report on Friday, January 17th. The Goldman Sachs Group reduced their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Wells Fargo & Company boosted their price objective on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Finally, Morgan Stanley increased their target price on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $97.59.

Lam Research Stock Performance

Shares of LRCX stock opened at $72.70 on Tuesday. The firm has a market capitalization of $93.32 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 1.47 and a beta of 1.53. The stock has a fifty day moving average of $79.35 and a 200 day moving average of $77.31. Lam Research Co. has a 52 week low of $68.87 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) last posted its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, research analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.96%.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the 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 transaction, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

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.