Fortitude Family Office LLC Buys Shares of 60 Lam Research Co. (NASDAQ:LRCX)

Fortitude Family Office LLC purchased a new position in Lam Research Co. (NASDAQ:LRCXFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 60 shares of the semiconductor company’s stock, valued at approximately $47,000.

A number of other hedge funds also recently made changes to their positions in LRCX. Moneta Group Investment Advisors LLC boosted its stake in Lam Research by 117,180.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 32,822,222 shares of the semiconductor company’s stock worth $13,795,180,000 after buying an additional 32,794,236 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Lam Research by 3.6% in the 2nd quarter. BlackRock Inc. now owns 11,179,474 shares of the semiconductor company’s stock valued at $7,186,837,000 after purchasing an additional 389,374 shares in the last quarter. State Street Corp grew its holdings in shares of Lam Research by 1.7% during the 1st quarter. State Street Corp now owns 5,697,200 shares of the semiconductor company’s stock valued at $3,029,550,000 after purchasing an additional 92,606 shares during the last quarter. Geode Capital Management LLC raised its position in Lam Research by 0.8% in the 1st quarter. Geode Capital Management LLC now owns 2,542,805 shares of the semiconductor company’s stock worth $1,345,403,000 after purchasing an additional 19,280 shares during the period. Finally, Morgan Stanley boosted its position in Lam Research by 3.2% during the third quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock valued at $1,164,490,000 after buying an additional 56,824 shares during the period. 84.08% of the stock is owned by institutional investors.

Insider Activity at Lam Research

In other news, SVP Ava Hahn sold 2,342 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $732.00, for a total value of $1,714,344.00. Following the sale, the senior vice president now directly owns 3,433 shares of the company’s stock, valued at $2,512,956. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Ava Hahn sold 2,342 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $732.00, for a total value of $1,714,344.00. Following the transaction, the senior vice president now owns 3,433 shares in the company, valued at $2,512,956. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the sale, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Insiders sold a total of 19,895 shares of company stock valued at $15,666,586 in the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Lam Research Stock Performance

Shares of Lam Research stock opened at $977.90 on Friday. Lam Research Co. has a 12 month low of $478.77 and a 12 month high of $1,007.39. The firm has a market capitalization of $128.20 billion, a P/E ratio of 37.82, a P/E/G ratio of 3.50 and a beta of 1.51. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. The business has a fifty day simple moving average of $890.51 and a two-hundred day simple moving average of $754.26.

Lam Research (NASDAQ:LRCXGet Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.06 by $0.46. The company had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. Lam Research’s revenue was down 28.8% on a year-over-year basis. During the same period last year, the company posted $10.71 EPS. On average, equities analysts forecast that Lam Research Co. will post 28.88 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Tuesday, March 12th. Lam Research’s dividend payout ratio (DPR) is presently 30.94%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LRCX. Stifel Nicolaus lifted their price objective on Lam Research from $850.00 to $950.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Needham & Company LLC boosted their price objective on Lam Research from $800.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Citigroup increased their price objective on Lam Research from $800.00 to $975.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Deutsche Bank Aktiengesellschaft downgraded shares of Lam Research from a “buy” rating to a “hold” rating and lifted their target price for the stock from $680.00 to $725.00 in a research note on Tuesday, December 12th. Finally, Susquehanna increased their price target on shares of Lam Research from $655.00 to $880.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Lam Research has an average rating of “Moderate Buy” and a consensus target price of $811.68.

Check Out Our Latest Report on Lam Research

Lam Research Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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