Systematic Financial Management LP Increases Position in Lam Research Co. (NASDAQ:LRCX)

Systematic Financial Management LP lifted its holdings in Lam Research Co. (NASDAQ:LRCX) by 900.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,300 shares of the semiconductor company’s stock after purchasing an additional 8,370 shares during the period. Systematic Financial Management LP’s holdings in Lam Research were worth $672,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Lam Research by 892.7% in 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 purchasing an additional 108,619,564 shares in the last quarter. FMR LLC increased its stake in shares of Lam Research by 1,032.6% in the 4th 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. Ameriprise Financial Inc. increased its stake in Lam Research by 950.5% during the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock worth $2,495,128,000 after buying an additional 31,255,726 shares in the last quarter. Geode Capital Management LLC increased its stake in Lam Research by 907.1% during the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock worth $2,265,610,000 after buying an additional 28,307,499 shares in the last quarter. Finally, Norges Bank purchased a new stake in Lam Research during the 4th quarter worth approximately $1,661,672,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. The trade was 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 available through this link. 0.29% of the stock is owned by corporate insiders.

Lam Research Trading Down 0.4%

LRCX opened at $84.43 on Friday. Lam Research Co. has a one year low of $56.32 and a one year high of $113.00. The stock has a market capitalization of $108.00 billion, a PE ratio of 25.65, a P/E/G ratio of 1.47 and a beta of 1.64. The business’s 50 day moving average price is $72.35 and its 200 day moving average price is $75.46. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

Lam Research (NASDAQ:LRCX) last announced its earnings results 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. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The firm’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $7.79 earnings per share. As a group, equities research analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on LRCX. Oppenheimer cut their price objective on Lam Research from $95.00 to $80.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Needham & Company LLC cut their price objective on Lam Research from $96.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Bank of America cut their price objective on Lam Research from $110.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Finally, Jefferies Financial Group boosted their price objective on Lam Research from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, March 28th. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.56.

Lam Research Company 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.