Ensign Peak Advisors Inc Increases Stake in Lam Research Co. (NASDAQ:LRCX)

Ensign Peak Advisors Inc increased its holdings in Lam Research Co. (NASDAQ:LRCX) by 893.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 648,058 shares of the semiconductor company’s stock after acquiring an additional 582,800 shares during the quarter. Ensign Peak Advisors Inc owned approximately 0.05% of Lam Research worth $46,809,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings 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 buying an additional 108,619,564 shares during the period. FMR LLC lifted its position 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 buying an additional 36,496,689 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Lam Research by 950.5% in 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 during the last quarter. Geode Capital Management LLC raised its stake in shares of 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 acquiring an additional 28,307,499 shares in the last quarter. Finally, Norges Bank purchased a new stake in Lam Research during the fourth quarter valued at approximately $1,661,672,000. 84.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on LRCX. UBS Group lowered their price objective on Lam Research from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, April 14th. B. Riley reiterated a “buy” rating on shares of Lam Research in a research note on Thursday, April 24th. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Stifel Nicolaus cut their target price on Lam Research from $100.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Finally, Needham & Company LLC dropped their price target on Lam Research from $96.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Lam Research has an average rating of “Moderate Buy” and a consensus target price of $91.56.

Insider Activity at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the 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 owns 179,084 shares of the company’s stock, valued at $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.29% of the stock is currently owned by insiders.

Lam Research Stock Performance

NASDAQ:LRCX opened at $75.43 on Friday. Lam Research Co. has a twelve month low of $56.32 and a twelve month high of $113.00. The company has a market cap of $96.48 billion, a P/E ratio of 22.91, a P/E/G ratio of 1.47 and a beta of 1.64. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $71.56 and its 200-day moving average price is $75.19.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. The firm had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The business’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter last year, the firm earned $7.79 earnings per share. On average, sell-side analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

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.