Aquatic Capital Management LLC Buys 86,233 Shares of Lam Research Co. (NASDAQ:LRCX)

Aquatic Capital Management LLC boosted its stake in Lam Research Co. (NASDAQ:LRCX) by 406.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 107,473 shares of the semiconductor company’s stock after acquiring an additional 86,233 shares during the quarter. Aquatic Capital Management LLC’s holdings in Lam Research were worth $7,763,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in LRCX. Vanguard Group Inc. boosted its holdings in shares of Lam Research by 892.7% during the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock valued at $8,724,498,000 after acquiring an additional 108,619,564 shares in the last quarter. FMR LLC boosted its stake in shares of Lam Research by 1,032.6% during the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock valued at $2,891,453,000 after purchasing an additional 36,496,689 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Lam Research by 907.1% during 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 purchasing an additional 28,307,499 shares during the last quarter. Norges Bank acquired a new position in shares of Lam Research in the fourth quarter valued at approximately $1,661,672,000. Finally, Fisher Asset Management LLC raised its holdings in Lam Research by 892.7% in the 4th quarter. Fisher Asset Management LLC now owns 18,578,181 shares of the semiconductor company’s stock valued at $1,341,902,000 after buying an additional 16,706,708 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Buying and Selling

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s 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 sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LRCX. Bank of America decreased their price target on shares of Lam Research from $110.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Morgan Stanley increased their price target on Lam Research from $81.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday. Mizuho upped their target price on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price target on shares of Lam Research in a report on Thursday. Six investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $92.70.

Lam Research Stock Performance

NASDAQ LRCX opened at $71.42 on Friday. The company has a market cap of $91.68 billion, a P/E ratio of 21.70, a PEG ratio of 1.47 and a beta of 1.52. The company has a fifty day simple moving average of $73.15 and a 200 day simple moving average of $75.43. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 12-month low of $56.32 and a 12-month high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.64 billion. Sell-side analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were issued a $0.23 dividend. 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 1.29%. Lam Research’s dividend payout ratio 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.