Townsquare Capital LLC Has $5.76 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

Townsquare Capital LLC increased its position in Lam Research Co. (NASDAQ:LRCX) by 951.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 79,787 shares of the semiconductor company’s stock after purchasing an additional 72,196 shares during the quarter. Townsquare Capital LLC’s holdings in Lam Research were worth $5,763,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Lam Research by 892.7% during the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock worth $8,724,498,000 after acquiring an additional 108,619,564 shares during the period. FMR LLC increased its stake in 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 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 acquiring an additional 28,307,499 shares in the last quarter. Norges Bank acquired a new position in Lam Research in the fourth quarter valued at about $1,661,672,000. Finally, Fisher Asset Management LLC lifted 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 institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on LRCX shares. Barclays reduced their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Mizuho increased their price target on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Oppenheimer cut their price target on Lam Research from $95.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 target price on shares of Lam Research in a research note on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average target price of $96.87.

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research 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 completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.29% of the company’s stock.

Lam Research Stock Up 1.6 %

Shares of LRCX opened at $67.48 on Monday. Lam Research Co. has a 1 year low of $56.32 and a 1 year 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. The business’s 50 day simple moving average is $76.49 and its 200-day simple moving average is $76.46. The stock has a market capitalization of $86.62 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating 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, equities analysts expect that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

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.