Transce3nd LLC Takes Position in Lam Research Co. (NASDAQ:LRCX)

Transce3nd LLC acquired a new stake in shares of Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,000 shares of the semiconductor company’s stock, valued at approximately $511,000.

Other hedge funds and other institutional investors 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 valued at $8,724,498,000 after purchasing an additional 108,619,564 shares in the last quarter. FMR LLC raised its position 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 valued at $2,891,453,000 after buying an additional 36,496,689 shares in the last quarter. Geode Capital Management LLC grew its position in Lam Research by 907.1% in the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock worth $2,265,610,000 after acquiring an additional 28,307,499 shares in the last quarter. Norges Bank bought a new position in Lam Research in the fourth quarter valued at $1,661,672,000. Finally, Fisher Asset Management LLC raised 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 valued at $1,341,902,000 after purchasing an additional 16,706,708 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LRCX has been the subject of a number of research reports. Barclays cut their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Bank of America reduced their price target on shares of Lam Research from $110.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday. Jefferies Financial Group boosted their price objective on shares of Lam Research from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, March 28th. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Finally, 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. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $93.87.

Lam Research Stock Performance

Shares of LRCX stock opened at $63.76 on Friday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The stock has a fifty day moving average of $74.79 and a 200 day moving average of $75.93. The firm has a market capitalization of $81.85 billion, a price-to-earnings ratio of 19.37, a PEG 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.

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 Dividend Announcement

The company also recently announced 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 1.44%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.96%.

Insider Activity

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 company insiders.

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.