Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lifted its stake in Lam Research Co. (NASDAQ:LRCX) by 893.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 648,058 shares of the semiconductor company’s stock after purchasing an additional 582,800 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Lam Research were worth $46,809,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Ethic Inc. lifted its position in shares of Lam Research by 1,190.3% during the fourth quarter. Ethic Inc. now owns 188,206 shares of the semiconductor company’s stock worth $13,594,000 after purchasing an additional 173,620 shares in the last quarter. First Manhattan CO. LLC. increased its position in shares of Lam Research by 875.2% during the fourth quarter. First Manhattan CO. LLC. now owns 7,841 shares of the semiconductor company’s stock worth $568,000 after acquiring an additional 7,037 shares during the period. Fiduciary Trust Co raised its stake in shares of Lam Research by 919.3% in the fourth quarter. Fiduciary Trust Co now owns 99,745 shares of the semiconductor company’s stock valued at $7,205,000 after acquiring an additional 89,959 shares in the last quarter. Fred Alger Management LLC increased its holdings in Lam Research by 854.4% during the 4th quarter. Fred Alger Management LLC now owns 75,350 shares of the semiconductor company’s stock worth $5,460,000 after purchasing an additional 67,455 shares during the period. Finally, Circle Wealth Management LLC boosted its stake in shares of Lam Research by 784.0% in the 4th quarter. Circle Wealth Management LLC now owns 17,787 shares of the semiconductor company’s stock valued at $1,285,000 after buying an additional 15,775 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

NASDAQ:LRCX opened at $75.43 on Friday. The firm has a market cap of $96.48 billion, a price-to-earnings ratio of 22.91, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64. Lam Research Co. has a 12-month low of $56.32 and a 12-month high of $113.00. 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 is $71.56 and its two-hundred day moving average is $75.19.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping the consensus estimate 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. During the same period in the previous year, the company earned $7.79 EPS. Lam Research’s revenue for the quarter was up 24.4% on a year-over-year basis. Research analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

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 dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction 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 approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

LRCX has been the topic of several recent analyst reports. Stifel Nicolaus dropped their target price on Lam Research from $100.00 to $92.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Morgan Stanley raised their price objective on shares of Lam Research from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft set a $70.00 price target on Lam Research and gave the stock a “hold” rating in a report on Thursday, April 24th. TD Cowen decreased their price objective on Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Finally, Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus price target 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.